Search
+

    CAIT for lowering GST rates on auto parts, aluminium utensils

    Synopsis

    Confederation of All India Traders (CAIT) also suggested to review items placed under different tax slabs under GST as many of the products are overlapping.

    ThinkStock Photos
    CAIT also suggested to reduce the tax rate for items like hardware, mobile covers, ice cream, health drinks, paints, marble, used vehicles, and two wheelers.
    NEW DELHI: Traders body CAIT Thursday urged the government to lower GST rates on various products, including auto parts and aluminium utensils.

    Confederation of All India Traders (CAIT) also suggested to review items placed under different tax slabs under GST as many of the products are overlapping.

    "Various items like auto parts and aluminium utensils are not of luxurious nature should be taken out from 28 per cent tax slab and may be put under lower tax slab," it said in a statement.

    Submitting a white paper on GST (Goods and Services Tax) to Finance Minister Nirmala Sitharaman, it also suggested to reduce the tax rate for items like hardware, mobile covers, ice cream, health drinks, paints, marble, used vehicles, and two wheelers.

    "The minister assured the CAIT delegation that she will look in to the issues," it said.

    They also urged the minister to form GST Lokpal in each state and the Centre.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Also Read

    1 Comment on this Story

    Niveza Equity Research427 days ago
    Maruti Suzuki Stock seems potential in medium and long term backed by its launches of BS-VI compliant models. The stock is fundamentally very healthy with an extraordinarily high TTM based EPS of Rs. 253.21. The P/E for the same time period may seem overvalued at 26.77x but justifiable at the company’s turnover. Its 5 Yearly ROE, ROCE and ROA are also healthy. The company is also planning to launch electric cars by 2020E which makes stock more lucrative for medium and long term. Search Google for NIVEZA FREE Share Market Tips today.
    The Economic Times