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Not ruling out rationalisation of GST rates: Adhia

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Revenue Secretary Hasmukh Adhia on Tuesday did not rule out the scope for rationalisation of tax rates fixed on various goods and services under the GST regime to be implemented from July 1. “One thing we would agree is that there isascope for rationalisation of tax rates on various goods and services,” he said here in an interaction with the industry on GST. Even the Central Board of Excise and Customs Chairperson Vanaja Sarna had on Monday said the GST Council could revise rates if there is any justification for reconsideration.
Various industries and businesses, including traders, FMCG (fastmoving consumer goods) and automobiles had been petitioning the central government for revising rates.
On concerns raised by representatives of food processing sector, Adhia saidadecision on the rates of foodgrain, especially wheat and rice, would be taken at the June 3 meeting. “It was already mentioned by (Finance Minister Arun) Jaitley that this is one issue which is still pending before theGSTCouncil, anditwilltakeadecision. We understand the food processing industry needs to be encouraged,” he said.
All people in financial services will know, we are not charging service taxes in deposits as well as loans, but taxes on other services.
 
Business Standard, New Delhi, May 31, 2017

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