Tribune News Service
Ludhiana, May 31
The president of Apex Chamber of Commerce and Industry, Punjab, PD Sharma, has written a letter to Union Finance Minister Arun Jaitley regarding some aberration in the Goods and Service Tax (GST).
Sharma said the industry was watching the process of GST implementation with a baited breath. “Despite full and sincere efforts to implement GST in right spirit, some major distortions/aberration are discernible,” he said.
He said there was a provision to impose 1 per cent additional levy on goods moving across state boundaries. Unfortunately this additional levy would be applicable in every state through which the goods pass. For instance if goods move from Gujarat to Tamil Nadu they have to cross at least four states. This means the levy would be 4 per cent not 1 per cent. This may be equivalent to importing goods from say Bangkok to Tamil Nadu. “The industry is very apprehensive about the GST rate. Although you have indicated that the rate will be less than 25%, no definite level is indicative. The industry wishes that GST rate should not go beyond 20%,” Sharma said.
Source: The Tribune India