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While congratulating Mr.Sushil Kumar Modi, Deputy Chief Minister of Bihar on assuming the Chairmanship of the Empowered Council of State Finance Ministers on Goods and Services Tax (GST), the Tamil Nadu Chamber of Commerce and Industry has strongly indicated its objection to the proposed three-tier combined GST (Central GST and State GST) rates based on essential items, other than essential items and services.
In a statement here, the Chamber President, Mr N. Jegatheesan, said that the proposal to levy 12 per cent on essential items, 20 per cent on
other than essential items and 16 per cent on services is a steep fixation and the combined rates should be pegged at a lower level of not more than 10 per cent for good and services and for essential items at 6 per cent to enable smooth implementation.
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