The apex authorities are making every move towards a better implementation of GST and in this direction, the government has initiated a new Twitter handle for the common public to resolve any queries and doubts regarding the Goods and services tax.
A statement from the finance ministry came that, “The Department of Revenue has opened a new Twitter Handle @askGST_GoI to invite queries from all taxpayers on GST, All taxpayers and other stakeholders are welcome to direct their queries related to GST on the said Twitter handle for early resolution and clarification.”
The GST Council in its earlier meeting made decisions over 1211 different goods & commodities for the final tax rates held in Srinagar in this month. The council also decided tax rates for approximately 500 services which were fitted into four tax rate slabs of 5,12,18 and 28 percent. The decision still hangs in the fewer commodities like gold and precious metals textiles, bidis, and various other branded products and will be decided in its next meeting along with union finance minister Arun Jaitley and state finance ministers.
The Confederation of All India Traders (CAIT) meanwhile said in a statement regarding the duality and diversions of tax slab that it has created a difficult situation within the industries across the nation along with communities who are still figuring out the cause and impact of the new taxation scheme.
CAIT in a statement mentioned that, “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, As per an analysis, 1,211 goods and 36 services have been so far classified under GST out of which nearly 50 percent goods have been placed under 18 percent rate, 14 percent under 5 percent rate, 17 percent under 12 percent rate and 19 percent under 28 percent rate.”
“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.” it added.