MADURAI: The Tamil Nadu Foodgrains Merchants Association has submitted a memorandum to Union Finance Secretary Mr.T.V.Somanathan in New Delhi on 28th March 2023 and urged for reducing GST rates on some important items and also to rectify some shortcomings. On behalf of the association, the memorandum was submitted to him by association’s honorary advisor Mr.S.P.Jeyapragasam, association president Mr.S.V.S.S.VelShankar and honorary secretary Mr.Sai Subramaniam, along with former Madurai MP Mr.R.Gopalakrishnan and Rajya Sabha MP Mr.R.Dharmar.
IMPORTANT DEMANDS:
The Tamil Nadu Foodgrains Merchants Association had urged that Appellate Tribunal must be formed immediately for GST issues, exempt the machinery meant for foodgrains sorting and processing from GST levy, give atleast six months time to traders and manufacturers for implementing the GST rate changes and regulations, and to bring petrol and diesel under the ambit of GST.
Other demands made in the memorandum are to reduce tax rate on camphor from the present 18 per cent to 5 per cent,, on Ready to Cook products from existing 18 per cent to 5 per cent and to reduce the GST rate levied on biscuits from 18 per cent to 5 per cent. Also, the butter and ghee produced by farmers in rural areas are levied at 12 per cent and it has to be decreased to 5 per cent, the association has appealed.
“At present, the GST revenue exceeds Rs.1.5 lakh crores per month. So, we feel that the GST Council should reduce the rate of taxation of products and services to new slabs – 0 per cent, 3%, 6% and 12%. By doing so, the revenue to Union government will increase and genuine stakeholders of GST will be benefited and protected,” the TN Foodgrains Merchants Association has said in the memorandum, which was given to the media yesterday.
