Amid clamour in industry over tax rates decided by the GST Council, Vanaja Sarna, chairperson of the Central Board of Excise and Customs, ruled out a review, barring a few rare cases.
She also said the government was set for the July 1 roll-out of the GST and industry must gear up for the new regime.
The government is flooded with representations from industries, including FMCG, automobiles, railways and solar power, to revise rates.
The GST Council in its last meeting decided rates for 1,211 items and 500 services. Around 60 per cent of the items will fall in the 12 per cent and 18 per cent tax slabs. “Industry should know that anything that was finalised in the council meeting will not be revisited now, barring six or seven remaining items. There will never be an end to demands for reviewing rates. Let the GST roll out and then these can be taken up,” Sarna told this newspaper.
She, however, added a few tax rates could be revised later. “Like all budgetary changes, a view can be taken on these later,” she pointed out.
Sarna said the council had to balance customer, trade, industry and revenue interests. She did not rule out a discussion on a revision of rates for certain items in the upcoming council meeting on June 3. “We cannot stop a council member from raising anything. If there is merit in a demand, it can be revisited,” she said.
via No review of GST rates, says CBEC chief Vanaja Sarna | Business Standard News
aniltikotekar4sme.com 