BRING OUT GST RULES & REGULATIONS ON PUBLIC DOMAIN, KEEP FARM PRODUCE OUTSIDE GST PURVIEW: PHD CHAMBER

BRING OUT GST RULES & REGULATIONS ON PUBLIC DOMAIN, KEEP FARM PRODUCE OUTSIDE GST PURVIEW: PHD CHAMBER

BRING OUT GST RULES & REGULATIONS ON PUBLIC DOMAIN, KEEP FARM PRODUCE OUTSIDE GST PURVIEW: PHD CHAMBER

 

No.PR-72
August 7, 2015
New Delhi

 

BRING OUT GST RULES & REGULATIONS ON PUBLIC DOMAIN, KEEP FARM PRODUCE OUTSIDE GST PURVIEW: PHD CHAMBER 
 

PHD Chamber of Commerce and Industry on Friday urged the government to unveil draft rules and regulations relating to Goods and Services Tax (GST) on public domain to enable industry to promptly react and share its comments on them even before the 122nd constitutional amendments about the GST enactment is passed by the Rajya Sabha.
 

The Chamber at its Seminar on Goods & Services Tax implications on Agriculture Food Processing and Allied industry held here today also demanded that agriculture and agricultural produce including food processing industry be kept out of GST.
 

“Food is a large portion of spending of lower income households and any tax on food and farm produce would be regressive since production and distribution of food as well as agricultural produce is largely unorganized in India.  As a result it is difficult to extend GST on this sector”, was the unanimous recommendations of the panelists that participated in the Seminar organized by PHD Chamber.
 

The Chamber is of the view that since most food items have been either exempted from tax or taxed at a lower rate, it should be the attempt of the government to let the agriculture sector escape taxation in a just manner after the GST legislation is enacted.
 

The Chairman, Indirect Tax Committee of PHD Chamber Mr. Bimal Jain said that even though the 122nd constitutional amendments for GST legislation has been awaiting the approval of the upper house of the Parliament, the industry is unaware of the contents of the draft rules and regulations of such an important legislation and thus either unable to react or submit its reactions and views to the government on such critical draft note.
 

He demanded that until the Rajya Sabha endorses the constitutional amendment already passed by the Lok Sabha, the government should put the detailed draft in the public domain to elicit the views of all stakeholders including industry on GST so that a foolproof legislation is evolved to the best satisfaction of one and all.
 

Among others who participated in the Seminar comprised prominent representatives from Godfrey Philips India, Lakshmikumaran & Sridharan, Crystal Crop Protection Pvt. Ltd., Origo Commodities Pvt. Ltd. and Ernst & Young.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)