GST rates on cement, steel, others building materials to change? PM Modi reveals what the government wants
Prime Minister Narendra Modi in an interview with ANI on Tuesday evening said that the NDA government is in favour of bringing construction related material in the 5 per cent slab of GST.
Prime Minister Narendra Modi in an interview with ANI on Tuesday evening said that the NDA government is in favour of bringing construction related material in the 5 per cent slab of GST. The prime minister added that changes in the tax structure will continue as there is scope for improvement. However, he refused to link the issue with Congress president Rahul Gandhi who has described the tax reform as 'Gabbar Singh Tax' and 'Grand Stupid Thought' by saying, "jiski jaisi soch, waise uske shabd (the way someone thinks, the same are his words)."
Questioning any criticism by Congress on GST, PM Modi said that any decision related to the regime is taken through consensus in the GST Council, which has representation from state governments, including Congress. "Are they abusing their own party leaders and party governments? ...Just creating a political hue and cry is not good," he said, attacking Gandhi for slamming the GST.
He said that GST is a new system that is bringing about a "big transformation" and this could be the reason why some small traders have faced inconvenience. PM Modi added that the government acknowledges and it is its responsibility is to be sensitive to their concerns. "So, whatever comes to our notice, are referred to the GST Council," he added.
Talking about providing relief to traders, Modi said the central government wanted the tax liability slab to be raised from Rs 20 lakh to Rs 75 lakh but could not do this in the last Council meeting as some states had reservations. The issue has been sent to a Committee for now.
"Once the Committee reaches a decision, it will benefit a number of people," he said.
PM Modi added that the government also wants to bring material used for under construction and fully constructed houses in catch all 5 per cent slab, like has been done in for restaurants. However, he revealed that some people have reservations over this and that is why GST Council couldn't do it.
It has now gone to the Committee. We will try to ensure that the committee report is expedited," he added.
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