West Bengal would try to prevail upon the GST Council for giving exemption to businesses having an annual turnover of up to Rs 50 lakh, the state’s Finance Minister Amit Mitra said today.
At present, the exemption limit for GST is for businesses having an annual turnover of Rs 20 lakh or less. “Let the GST stabilise first. It has not yet stabilised as matching of invoices with vouchers was being done manually,” Mitra said at a meeting of garment manufacturers and traders here. He said the implementation of the new tax regime was done in a hurry, and the GST network had not been able to upload the GSTR2 form online yet for matching vouchers with invoices done through the GSTR1 (already uploaded online).
He stressed upon the need for upgradation of the quality of garments and refrain from using ‘azo-dyes’, which bar the manufacturers from exporting to European countries.