Telecom sector disappointed with 18% GST rates

Gladys Abbott
May 20, 2017

Considering the massive impact of GST the operators have already initiated the registration process involving migration to the GST regime, the COAI said.

The Goods and Services Tax, set to rollout on July 1, will pare the cost of transport and logistics, formalise the sector, and could help bring supply chain management to the forefront, according to officials working to implement the new tax regime.

He said as a member of the GST council, Odisha had been actively participating in the design of the legislation.

The 14th meeting of the GST (Goods and Services Tax) Council to be chaired by Union Finance Minister Arun Jaitley begins here on Thursday, an official statement said. "It is a major financial reform which will convert the entire country into one single market", Naveen said.

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The meeting will last for two days during which the participants will decide on tax bands for various commodities under the country's first major indirect tax reform. Expressing similar views, Emami CEO (Finance, Strategy and Business Development) said: "It appears that the rate will benefit us and industry but we need to understand GST (rates) in entirety to comment on the subject".

"As an essential service, the telecom industry needs some benefits and tax relaxation in order to provide a seamless and hassle-free service", Mathews added. Director-general of the National Academy of Customs Excise and Narcotics (NACEN), P K Dash enlightened the MLAs about the tax reforms. "Total revenue collected in 2015-16 by a state has been taken as the base year".

Almost 81 per cent of products under the GST would be charged below the 18 per cent bracket, said Revenue Secretary Hasmukh Adhia. "It is a no gain no loss situation for us although we had asked the Finance Minister to classify edible oil in zero tax category", he said.

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