Reduce GST slab to 12 and 5 per cent

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With the Centre’s proposal to introduce lottery system for Goods and Service Tax (GST) where the winning amount may range from Rs 10 lakh to Rs 1 crore, industrialists have said such initiatives won’t solve the actual problem. Ravinder Dhir, the convener of Khel Udyog Sangh, said draw of lots would be held if the lottery system gets implemented. “But every exercise is futile if the basic problem would not be looked after,” he said.

There has been a long-pending demand among businessmen as they say that apart from luxury items, 18 per cent slab on every other item was not in favour of either the manufacturer or trader and consumer. “Unorganised sectors such as cottage industry and small-scale industry is already dying. Hence, if the slab is reduced to 12 and 5 per cent, the revenue would be increased and the work would be done more efficiently and it would be good for the consumers too,” Dhir said, adding that then practices such as introducing lottery system would not be needed.

Other members of the sangh said such promises look good at first but don’t have anything substantial. The businessmen said the government must lower the GST slab from 18 per cent to 12 and 5 per cent, then only the primary issue would get resolved. Notably, since the implementation of the GST, manufacturers and traders have been protesting against it. They have been meeting leaders, MLAs and MP, demanding to bring down the slab from 18 per cent to 12 and 5 per cent.

Read More at: https://www.tribuneindia.com/news/%E2%80%98reduce-gst-slab-to-12-and-5-per-cent%E2%80%99-38652

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