Traders to discuss GST implications in Pathankot

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AmritsarPosted at: Jun 8, 2017, 1:28 AM; last updated: Jun 8, 2017, 1:28 AM (IST)


Members of the Punjab Pradesh Beopar Mandal at an interactive session with excise officials in Amritsar on Wednesday. Photo: Sunil kumar

Tribune News Service

Amritsar, June 7

The Punjab Pradesh Beopar Mandal (PPBM) will hold a state level meeting to chalk out the next course of action to countenance the scenario emerging out of the proposed implementation of the GST in Pathankot on June 11. Mandal’s executive members announced this at an interactive session with excise officials of the Centre as well as the state here today.
They said businessmen had not yet come out of the recessionary effects of the demonetisation, and the government was thrusting another change in the entire economy.
PPBM president PL Seth said interests of businessmen in general and Micro Small Medium Enterprises (MSME) in particular were ignored in the GST framework. He said on the directions of the big corporate houses, small and medium businessmen were being targeted. “Shawl, suit and kasida would be charged 18 per cent service charge under the new tax framework. Shawl, like in the past, must be kept out of the GST. Amritsar and Ludhiana are the two major manufacturing hubs of shawl in the country,” he said.
PPBM general secretary Sunil Mehra said e-way bill would hinder the growth of trade. e-trip has already failed in the state, he said. “Three-tier GST would be a tremendous burden on the industrialists as they will have to bear the cost of CAs, accountants and accounting software update,” he said.
According to PPBM secretary Sameer Jain, the textile sector look at a spate of taxes under the proposed GST. He elaborated that cotton and natural yarn, which were not covered under the excise tax, would be charged GST five per cent and man-made yarn 18 per cent. Similarly, cloth will also be taxed five per cent GST. Five per cent GST will be charged on the apparel and readymade garments, having value less than Rs 1,000, and 12 per cent on if the value exceeds Rs 1,000.

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