Council to examine concerns of traders on rates: Meghwal

11 Jun 2017

The GST Council will examine the concerns of trade and industry regarding the rates and the rollout of Goods and Services Tax (GST) will be implemented from July 1, Union Minister Arjun Ram Meghwal said on Sunday.
"If any trade or business organization feels there's any anomaly in the calculation of rate of tax or fitment formula under GST, they can send their representations. The government is open (to look at it) if the amendments is in the interest of country, trade and traders. But it is the GST council which is to make a final decision on it," Meghwal told reporters here.
He said he will collect the feedback of the trade and industry on GST by June 14 and then submit a report to the BJP national president Amit Shah.
To a query on suggestions/feedback received from trade and industry, Meghwal said the common concern among representations was related to SSI sector coming under GST net.
"There was one thing common among representations given by the trade and industry. For example, marble industry in Rajasthan stated that only 5-10 per cent units were paying excise duty at present while 90 per cent units were out of excise net because of SSI exemption available up to the turnover of Rs 1.50 crore. There is an exemption on the payment of excise duty to the SSI sector. It is the biggest issue. The government will certainly examine it," he asserted.
The minister said the trade and business with turnover of up to Rs 20 lakh will be exempted from GST.
Apart from this, there will be a composition scheme for businesses with turnover of up to Rs 50 lakh. "Under this scheme, one per cent from traders, two per cent from manufacturers and 5 per cent from restaurants will be charged," he said.