Finance Minister Yanamala Ramakrishnudu has written a letter to the GST Council Chairman seeking steps to make available on real time basis the revenue figures of State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), Integrated Goods and Services Tax (IGST) and cess paid to all the States on the GSTN portal.
In the letter, the Minister pointed out that the compliance burden on small traders and businessmen under the GST was very high compared to the pre-GST regime.
The small traders and businessmen had to file GSTR1, GSTR2, and GSTR3 returns every month. This should be reduced.
Further, the liability to pay tax under reverse charge mechanism was also a burden on them. Hence, it may be kept on hold for a period of one year, the Minister said.
Mr. Ramakrishnudu said there was a reduction in effective rates on several goods under the GST, but there was no corresponding fall in the prices of goods. It was denting the image of the government in the eyes of the people, he said. The Minister said a robust price control mechanism should be evolved at the Central government level.
It was necessary to exempt/reduce the rates of tax on certain goods used by the common people or low income people.
Exemption of GST on tamarind, dry fish, and cotton yarn in hanks, and reduction of tax on bio-diesel, Natu and cheroot tobacco, tractors, and Napa tiles were necessary, he added.
