GST will certainly boost state’s GDP growth, asserts Yanamala

GST will certainly boost state’s GDP growth, asserts Yanamala
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Highlights

Allaying the apprehensions expressed by some sections of the society on increase of tax burden after the implementation of GST, finance minister Yanamala Ramakrishnudu said that there is no need of any confusion over the GST as it is being implemented after prolonged discussions which lasted for 15 years.

Amaravati: Allaying the apprehensions expressed by some sections of the society on increase of tax burden after the implementation of GST, finance minister Yanamala Ramakrishnudu said that there is no need of any confusion over the GST as it is being implemented after prolonged discussions which lasted for 15 years.

Speaking to the media persons at the Secretariat on Wednesday, he said that a few States have asked to defer the implementation of GST from July 1 as they were not prepared. He said the GST came into existence after all the 29 States and 7 Union Territories have unanimously passed the bill.

Highlights:

  • Points out that it has been implemented following prolonged discussions
  • Says the traders will be relieved from the harassment of officials under the new regime
  • GST Council to meet once in every month
  • Next meeting scheduled to be held on Aug 1
  • Problems to be brought to the notice of the Council at the next meeting

He said that there will be some teething problems in the initial stage of implementation and they will be redressed by the GST Council which will meet once in every month. The next meeting of the Council is scheduled to be held on August 1, where the problems being faced will be discussed.

He said the AP government has raised several issues asking for concessions on fertilisers etc, which are being considered by the GST Council, still several representations are coming from granite, textiles, fishermen community and other sections seeking tax concessions. They will be referred to the Council, he added.

Detailing about the advantages of GST, Ramakrishnudu said that the traders will be relieved from the harassment of officials and the common man will get commodities at cheaper prices compared to the earlier regime. GDP of the country as well as of the State will grow and industries will derive benefit, he said.

Though there will be short-term pains in the implementation of GST there will long-term gains, which will boost the economy of the country, he opined. Following GST implementation, all the commercial tax check-posts across the country were closed, he said. Responding to a query, he said the Centre has exempted coal, petrol, liquor and high-end cars from the purview of GST keeping in view the interests of the States revenue.

Referring to the representation of film industry on reducing the tax burden over ticket prices, he said there will not be any tax on tickets below Rs 100. Similarly, there is tax exemption on Tirumala temple Prasadams and on cottages whose rent per day is below Rs 500. He said the rise in prices of vegetables is in no way connected with the GST.

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