Jayakumar seeks simpler tax process
Fisheries minister D Jayakumar, who attended the GST meeting in Delhi on Saturday, urged the council to simplify taxation procedure for several items including silver jewellery, silk thread and dresses, aluminium materials, construction materials and recycled plastic.
By : migrator
Update: 2018-03-10 19:53 GMT
Chennai
He also sought amicable tax mechanism for non-branded bakery items, biscuits, pickles, pump sets, agricultural equipment, sanitary napkins, fishing equipment, butter, ghee, snacks, camphor, engineering spare parts and handloom garments.
According to a release, Jayakumar had spoken of apprehensions over a manufacturing state like TN being affected by GST and had requested the Centre to provide compensation to the State for five years at 14% per year.
Since TN has collected Rs 14,305 crore from GST, the Centre had given Rs 632 crore as compensation to the State, the minister said.
Besides, the share of TN in the inter-state commercial transactions is Rs 6,346 crore and so far, the Centre has released Rs 1,304 crore as advance payment. He also appealed to the Centre to provide the remaining amount before March 31 this year.
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