Coimbatore: The Association of Railway Suppliers (Taste) has urged Minister of Finance Minister Nirmala Sitharaman to postpone recent decisions to increase goods and service tax (GST) on railroad products from 12 to 18%.
The Ministry of Finance on September 30 made the announcement to increase GST for all train products covered in Chapter 86.
President Sense S Surulelve said in a letter to the Minister that small industry suppliers would be influenced by decisions with increased raw material costs, which had increased costs Manufacturing is 25-40%.
“When the manufacturer requests an order cancellation or to repair the date of delivery without a penalty, the increase in the GST will not be replaced by the train if the inventory is influenced outside the original shipping date.
The small industry now stands for further losses,” he said.
Deferredly Moving To Increase GST on Railway Products: Taste
