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Call this a Diwali gift to thousands of hapless consumers who face the brunt of the high Goods and Services Tax (GST) burden on quick-service restaurants and various daily-use household items.
The Centre has hinted that the next GST Council Meeting at Guwahati on November 9-10 may initiate steps to soften the blow of the 28 per cent tax slab.
“The higher GST tax slab of 28 per cent is bound to be gradually reduced as the GST Council will evolve alternative mechanism and the next GST Council meeting at Guwahati (on November 9-10) will see results on this front,” Shiv Pratap Shukla, Minister of State for Finance, said here on Saturday. He was inaugurating a National Conclave on GST, organised by the PHD Chamber of Commerce and Industry (PHDCCI).
Sorting out issues In his inaugural address, Shukla promised that all glitches in GST implementation will get sorted out over the next nine months and a win-win situation would emerge for all stakeholders.
India Inc should not measure the execution of GST in its first phase of three months as it is a big tax reform and needs “minimum one year” for perfect implementation, Shukla said.
Shukla’s remarks come at a time when the GST implementation — which started on July 1— is bogged down by challenges such as technology snags and frequent rate changes by the GST Council.
Shukla also highlighted that the GST Council was sensitive to the demands of stakeholders and had in recent months reduced GST rates on over 100 items.
“The GST Council has already taken pro-active measures in rationalising GST rates in the recent past and the trend will continue in future wherever the tax rate is deemed to be slightly on the higher side. The 28 per cent GST tax slab will fall as per genuine and legitimate aspiration of the people in general and industry in particular,” Shukla said.
PHDCCI President Gopal Jiwarajka said the 28 per cent GST rate slab should be “eliminated” for general goods at the earliest.
He also called for a “surgical strike” on the anomalies that prevailed in the tax regime.
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