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10/07/2017 12:20pm

Tamilnadu’s traditional peanut candy to be taxed at 5% instead of 18% under GST: Govt

image Tamilnadu’s traditional peanut candy to be taxed at 5% instead of 18% under GST: Govt

New Delhi, July 10 (KNN) The famous peanut candy “Kadlai Mittai” industry of Tamil Nadu raised speculation over the tax rate under the newly implemented Goods and Services Tax (GST). Clarifying doubts over the tax slab in which the item is placed, the officials at Central Excise, Service tax and customs announced 5 per cent tax rate for commodity as against to the rumour of 18 per cent.

The announcement was made during an interaction on GST between the Union Minister of Commerce and Industry Nirmala Sitharaman and other officials from the government and the representatives from various industry bodies.

The clarification comes in response to the ongoing controversy of the traditional candy being placed under 18 per cent.

Sitharaman further informed that the idly dough manufacturing industry has also approached for a revision of the tax rate under the GST. She said that her Ministry would take the matter with the GST council.

Also industry representatives from concrete hollow blocks manufacturers and gunny bag manufacturers have approached for a revision under GST; Nirmala assured that their concerns would be raised at the upcoming meeting of the GST council.

Commenting upon the importance of the new tax regime, she said till now there have not been proper monitoring of the transactions taking place in the country. With the coming of GST, it will now be possible for the government to have a proper idea of the economics taking place in the country. (KNN/ DA)

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