Indore (Madhya Pradesh)
Trade and industry bodies have strongly objected to being kept away from the process of rationalisation of GST rates. They have suggested that apart from the Group of Ministers (GoMs), they too must be included in recommending GST rates before the GST Council.
Ahilya Chamber of Commerce and Industry has sent a memorandum to Union finance minister Nirmala Sitaraman, who is also GST Council chairman, in which they have placed this demand.
GST Council during its 47th meeting in the last week of June, constituted a GoMs to suggest GST rates rationalisation, wherein currently 5% or 12% GST rates are expected to be revised upward.
Sushil Sureka, general secretary, Ahilya Chamber of Commerce & Industry, informed here on Tuesday that they have come to know that the GoM, constituted for giving suggestions on rate rationalisation to the Council, has submitted only a partial report, which has been accepted by the council. However, since this is a very sensitive issue and directly affects not only trade and industry but the entire population of our country, an extension for three months has been understandably granted to the GoM for submitting its final report.
In this connection, the Chamber request the Council to take into account their views and also those of chartered accountants, tax practitioners and trade bodies as they too may give valuable suggestions.
Sureka, an expert in tax affairs, said traders’ organisations represent small and medium traders whose voice does not reach the high echelons of the GST Council.