Centre nixes speculation of delay in GST rollout

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It has requested the GST Council to reconsider and bring them under the 5 per cent slab.

Revenue secretary Hasmukh Adhia tweeted that the rumours about GST implementation being delayed are false.

With regard to some of the speciality textile fabrics, that remain under the 12 % slab, Mr. Thulasidharan said this would be unsustainable. The micro dot coating that is done only sustains about 1.3 to 1.4 per cent of input credit.

The GST is going to increase the operational cost and it is likely the airlines will increase the fares.

Meanwhile, West Bengal Finance Minister Amit Mitra continued to raise serious doubts over the feasibility of the new indirect tax regime and proposed its postponement by a month or so. Similarly, the GST for man-made fibre and yarn should be reduced to 12 %.

The retailers' body is also taking three key concerns to the government, relating to display of GST rates on goods, home delivery charges, and GST on packaged staples.

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"Regarding input tax credits (ITC), the lower rate of 5% on economy class travel comes with restrictions, whereby ITCs can be claimed on input services".

The GST Council, headed by Finance Minister Arun Jaitley and comprising of representatives of all states, had in April come out with the draft e-way bill rules that made it necessary for any movement of goods, within or outside the state, having value of more than '50,000 to be registered with the GST-Network (GSTN) website.

He explained that this would now help SMEs of powerloom, knitting and processing sectors not to face much financial burden.

Second, retailers want home delivery charges to be levied as a flat service tax, instead of basing the tax on the highest rated item in the delivery basket.

Chairman M Senthilkumar has said reduction would benefit MSME segment and ensure a level playing field with the vertically integrated manufacturing units.

"A trader with an annual turnover of Rs 20 lakh is exempt from GST".

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