Industrial body seeks finance min’s Help to reduce gst slab








COIMBATORE: Ahead of the virtual GST council meeting on Friday, members of Coimbatore Tirupur Districts Micro and Cottage Entrepreneurs Association (Cotma)) wrote to state finance minister P T R Palanivel Thiagarajan on Wednesday requesting him to reduce GST slab from 12% to 5% for those who are conducting job works.
“At present, if a seller fails to file GST returns on or before 11th of every month for the products sold with 18% GST in that month, buyers cannot claim the input tax credit for that month. How can buyers be responsible for the sellers’ activities? We have been requesting the central government to undo the norms, but they have not paid heed to our request,” said Cotma president C Sivakumar.
“We have also been requesting the government to waive interest and heavy penalty slapped on those who had failed to pay the tax on time. Instead of freezing their accounts, the government should waive the penalty and interest, and take steps to collect the whole tax amount,” he said. “We have also been requesting the government to reduce GST tax from 12% to 5% for those doing job works. As GST of raw materials is higher than the GST on processed items, it has been causing a lot of trouble for industrialists.”
“The lockdowns have pushed back the growth of industries by a few decades and it is difficult to recover without the state government’s assistance,” Sivakumar added.




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