The Union government on Sunday began another Twitter handle to answer industry inquiries identified with the Goods and Services Tax (GST) proposed to be actualized from July 1.
Prior this month, the GST Council at its meeting in Srinagar settled on the fitment of more than 1,211 commodities and 500 services in four tax chunks of 5, 12, 18 and 28 for each percent.
“The Department of Revenue has opened a new Twitter Handle @askGST_GoI to invite queries from all taxpayers on GST,” a Finance Ministry statement here said.
“All taxpayers and other stakeholders are welcome to direct their queries related to GST on the said Twitter handle for early resolution and clarification,” it added.
The Council, containing States’ Finance Ministers and headed by Union Finance Minister Arun Jaitley, will take up the fitment of the staying six goods, including gold and valuable metals, textiles, bidis and marked commodities at its next meeting here slated for June 3.
Then, the Confederation of All India Traders (CAIT) said in an announcement on Sunday that the different tax sections under the proposed pan-India circuitous tax administration of the GST has made a situation of uneasiness and worry among the exchanging group the nation over.
“Various verticals of retail trade demanding a lower tax on the items being dealt with them since they have been categorised under higher tax slab in comparison to tax slab of current VAT tax regime,” a CAIT release here said.
“As per an analysis, 1,211 goods and 36 services have been so far classified under GST out of which nearly 50 per cent goods have been placed under 18 percent rate, 14 per cent under 5 percent rate, 17 per cent under 12 percent rate and 19 per cent under 28 percent rate,” it said.
“The wider impact of the classification of items under different tax slabs needs to be gauged very cautiously since under GST not only the taxes paid on goods but even the taxes paid on the services will be eligible for input tax credit,” CAIT added.