GST effect: Government urges industry to pass on price cuts

GST effect: Government urges industry to pass on price cuts

GST effect: Government urges industry to pass on price cuts

"It is not only businesses and companies that have queries but many individuals have also been posting comments as they are anxious about higher prices", said an official. "Keeping these under control has been key to ensure the smooth roll out of the tax", said a senior government official. Further myths such as new GST rates are higher compared to earlier value added tax was also busted.

"Prices have not gone up", Revenue Secretary Hasmukh Adhia told reporters following the first meeting of the CMC here headed by the Cabinet Secretary.

State level check posts used to collect taxes on movement of goods which will not be required under the GST regime that took effect from July 1.

Till now, CBEC has also conducted over 4,800 awareness programmes on GST across the country. Association president Moideenkutty Haji and general secretary G. Jayapal said the Minister's statement that GST would lead to reduction in prices of several commodities and therefore hotels and restaurants need not levy GST, was misleading.

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The cabinet secretary also urged officials to ensure that retailers, dealers and shopkeepers display the post-GST prices of different items being sold by them. "In order to do so, officers of every ministry should equip themselves and have full knowledge of the details... concerning their respective ministry", he said.

The Finance Ministry statement, noting that "questions are raised about GST rates fixed for specific devices for physically challenged persons", said that most of the inputs and raw materials for manufacture of these assistive devices/equipments attract 18 per cent GST.

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