Coimbatore: Ahead of this digital GST council meeting on Friday, associates of Coimbatore Tirupur Districts Micro and Cottage Teachers Association (Cotma)) composed to say finance minister T R Palanivel Thiagarajan on Wednesday asking him to decrease GST slab from 12 percent to 5 percent for people that are conducting project functions. “Currently, if a vendor fails to file GST returns on or before 11th of each month for those goods offered with 18 percent GST in that month, then buyers cannot claim the input tax credit for this month. How do buyers be accountable for the vendors’ actions? We’ve been asking the central authorities to reverse the criteria, however they haven’t pay heed to our petition,” explained Cotma president C Sivakumar. “We’ve also been asking the authorities to waive heavy and interest punishment slapped on people who had neglected to cover the tax in time. Rather than concealing their account, the authorities must waive the interest and penalty, and take action to collect the entire tax sum,” he explained. “We’ve also been asking the authorities to decrease GST taxation from 12 percent to 5 percent for individuals doing project functions. Since GST of raw materials is significantly greater compared to GST on processed things, it’s been causing a great deal of difficulty for industrialists.” “The lockdowns have pushed the development of businesses by a couple of decades and it’s tough to recover with no state government’s help,” Sivakumar added.
Industrial body Expects Fund Minute’s Aid to Decrease GST slab
