New Delhi, July 23 (KNN) The Goods and Services Tax (GST) Council in its 28th meeting has trimmed the rate of around 88 consumer-centric items with a view to benefit consumers and MSMEs. The new rates will come into effect from July 27, 2018.

In this regard, KNN India spoke to industry associations from across the country to get their views on this move.

Dinesh Chandra Tripathi, President, Federation of Indian Small and Micro Enterprises (FISME) President: 

It’s a good move. It will boost the demand and spending of respective sectors. It was being demanded by FISME at various forums and government was convinced also.

Badish Jindal, President, Federation of Punjab Small Industries Association (FOPSIA):

The GST system still requires to be streamlined. The government has only reduced the duty where the misuse of taxes was there as large number of paints and varnish bills were consumed in industry by paying just 4% against the 28% GST on invoices.

Similarly on the same lines people started misuse of electrical devices by showing them consumed in industries.

The e-way bill is creating a lot of hurdles and need immediate attention of government.

Also, the items coming under inverted duty structure such as bicycle are facing big difficulty in getting the GST refunds.

C.K. Mohan, General Secretary, Tamil Nadu Small and Tiny Industries Association (TANSTIA):

It’s a welcome move as GST rate for most of the consumer goods has been reduced but still with respect to engineering job work where 18% is being charged has not been addressed despite continuous representation.

Also, automobile component are still at 28% which needs to be reduced to 12% as number of industries are more in Tamil Nadu dealing with these.

These are the two main issues which have not been addressed by the GST Council.