Relief for State: petro products not yet under GST

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The 25th GST Council meeting chaired by Union Finance Minister Arun Jaitley at Delhi on Thursday did not take up the proposal of bringing petroleum products, alcohol and real estate sector under the GST regime.

Telangana State which saw its revenue growth rate impacted post GST went prepared to represent that the proposal to bring petroleum products under the new tax regime be deferred. It had earlier conveyed its view that the new tax regime be allowed to stabilise first before making any more changes.

Finance Minister Eatela Rajender once again represented to the Council to bring down the GST on Napa stone and Beedis to 5%. But the Council announced revised rates on some items which were not significant, sources said.

The State also suggested that measures to prevent tax evasion be intensified and divisions to check irregularities in GST and e-way bills should be continued.

It was decided to take stakeholders view after 15 days on the filing of returns under GST after a presentation on simplifying the process of GST filing was made in the meeting. But it was agreed that the invoice uploading could be introduced.

Finance Minister Eatela Rajender has requested the Union Finance Minister to make budgetary allocation for the Mission Bhagiratha, Mission Kakatiya and Rs. 10,000 crore financial assistance to the Kaleshwaram Irrigation project.

The Minister, who attended the pre-budget meeting of State Finance Ministers convened by Mr. Arun Jaitley, said that NITI Ayog also recommended that Rs. 19,205 crore for Mission Bhagiratha and Rs. 5,000 crore for Mission Kakatiya be sanctioned to Telangana.

The State also requested the Centre to allocate funds in the Budget for the railway coach, steel plant, tribal university and horticulture universities promised to Telangana in the AP State Reorganisation Act.

The Centre was requested to keep adequate currency in banks as State decided to give input assistance of Rs. 4,000 per acre to farmers.

Read more at: http://www.thehindu.com/todays-paper/tp-national/tp-telangana/relief-for-state-petro-products-not-yet-under-gst/article22468300.ece