Mumbai: State Finance Minister Sudhir Mungantiwar on Thursday assured the business community that the government was positive in its talks with traders’ bodies for resolving concerns about the Goods and Services Tax (GST), set to come into effect from July 1.
Traders’ concerns over computerisation, technical issues and difficulties arising because of tax system change will be addressed by the GST Council, he said, speaking to reporters here. The government agrees with the demand of owners of drama theatres that the tax for them shouldn’t increase under the new regime, Mr. Mungantiwar said. “The government has assured theatre owners that it will pursue the matter so that earlier tax slab is retained.”
The intention behind switching to a single taxation system was to end tax terrorism and rid the traders and industry of unnecessary hassles, the minister added. As to the bank service charges rising to 18%, Mr. Mungantiwar said the basic principle of GST is to ensure a revenue-neutral regime. Matters such as these will be addressed by the GST Council from time to time, he said. The Council, at a recent meeting, restored earlier tax slabs for 66 items, he pointed out.
