Not ruling out rationalisation of GST rates: Revenue Secretary

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"The GST will certainly be implemented from July 1 and will help in creating lot of jobs for young generation", said Adhia at a Town Hall meeting with stakeholders, including tax assesses, traders and representatives of trade unions here.

Dilip Ghosh, state BJP president said "If a majority of the states have accepted the proposals of the GST Council, West Bengal should follow suit otherwise there will be a constitutional crisis".

Dr Adhia explained the basic philosophy behind fixation of rates and explained that to arrive at the GST rate, the weighted average of Value-Added Tax in all States has been taken. "For at present only 19 items are under 28 per cent bracket and about 44 items under 18 per cent bracket". "I also spoke to the (Union) finance minister", he said. He explained the details of provisions related to transition credit.

Adhia said that the GST is a major customer-friendly indirect tax reform.

He did not attend the last GST council meeting. The deliberations in GST Council have been of top quality and extremely objective. And I have written to the Prime Minister urging him that there is no hurry in this matter and moreover the GST is an anti-national institution set up as a cyber brain of the GST by Mr. Chidambaram and I don't see why we are continuing it because it is owned by foreigners and the foreigners will get access to all our data and this is absolutely against national interest. Items of mass consumption-toothpaste, soaps, hair oil, etc. -have been put under the 18% tax slab, significantly lower than the 22-24% tax rate they have been paying.

He said that Karnataka is at the top of the ladder in preparedness for GST.

Speaking on the occasion, Dr. Adhia further said "Karnataka Government has made maximum contribution for GST and the Central Government is moving ahead as the GST would prove to be a game changer". He stated that the entire process of finalising the laws relating to GST has been a path breaking process.

Nagpur/Mumbai: The new Goods and Services Tax (GST) regime will bring several benefits for the economy, and could particularly vitalise the fast-moving consumer goods (FMCG) industry.

He said training academies like Nacin have a very vital role to play to forge a proper coordination between taxation authorities of the Centre and the states, to implement GST, which is a product of Federal India. The portal will be accessible to the Central government, which will track down every transaction on its end, while the taxpayers will be having a vast service to file their taxes and maintain the details.