Bizmen to approach GST council, resent non-payment of refunds
The members had recently approached the Finance Minister and the Industries Minister and had also raised their concern that they were not getting their refunds. They had also shared issues the industry was facing due to the implementation of the GST.
RK Gandhi, adviser, Jalandhar Rubber Goods Manufacturer Association, said the difference of rates in the GST on raw material and finished goods was accumulating trouble for the manufacturers.
“When the GST on the raw materials such as natural rubber is 5 per cent, packing material, it is 12 per cent, and on chemicals 18 per cent, but on finished goods i.e. rubber footwears, it is only 5 per cent,” he said.
The manufacturers rued the fact that this difference was drying up their capital, thus making almost impossible for them to continue manufacturing for some more time.
Explaining about the issue, the manufacturers said they were supposed to pay Rs 113 on purchase of raw material and get only Rs 105 on sale of their product. Thus, the difference of around 8 per cent of GST is to be refunded to them by the government, which they are not getting.
Notably, since the implementation of the GST (July 1, 2017), the manufacturers of various industries, be it pipe fitting, rubber, or others, are in a bad state.
Source- Tribune India.
The post Bizmen to approach GST council, resent non-payment of refunds appeared first on GST Station.
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