PHD Chamber urges, GST Council should rationalise rates
PHD Chamber urges, GST Council should rationalise rates
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New Delhi: PHD Chamber of Commerce and Industry in New Delhi has requested the GST Council to rationalise rates at its upcoming meeting. According to the industry group, present prices are out of step with demand creation and job creation in the country.

"We advise the government to divide the GST rates into three broad slabs of 5 percent, 10 percent, and 15 percent, with a few 'Sin Goods' in the slab of 28 percent," said Pradeep Multani, President of the PHD Chamber of Commerce and Industry.  Accordingly, commodities in the 12 percent rate category should be cut to 10 percent, while items in the 18 percent rate category should be decreased to 15 percent, according to the industry association.

"The items in the 0 percent and 5 percent categories should be left alone." "There should be no more than 25 goods in the 'Sin Goods' category, which is scored at 28 percent." According to Multani, the rationalisation of tax slabs will increase demand in the economy, reduce inflationary pressures, improve producer emotions for production, and generate employment possibilities for the country's rising workforce.

"Lower taxes always help to expand the tax base and the tax-to-GDP ratio," Multani remarked. "In the future, a level playing field for industry will be critical in promoting the country's ease of doing business."

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