Coal Consumers Being Taxed Much Less Under GST: Piyush Goyal

Coal Consumers Being Taxed Much Less Under GST: Piyush Goyal

IT Minister K Taraka Rama Rao on Saturday said that five important aspects he had deliberated on five issues related to Telangana at the GST General Council meeting.

The Minister said that the earlier Clean Environment Cess on coal at Rs 400 per tonne was replaced by the GST Compensation Cess also at the rate of Rs 400 per tonne.

"The GST Council made a decision to implement the e-way bill law. It's against the fundamental concept of GST", he tweeted.

"Our Chief Minister has also written to Prime Minister (Narendra Modi) and Finance Minister (Arun Jaitley) in this regard", he said.

Under GST, goods and services providers will get the benefit of input tax credit for the goods used, effectively making the real incidence of taxation lower than the headline taxation rate. "We have to come out of "Inspector Raj" mindset".

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He appealed to businesses to pass on the benefit of the reduced tax under GST to consumers, failing which the anti- profiteering mechanism will be triggered.

The Council also gave in-principle approval to anti-profiteering measures and proposal to set up a Screening Committee in 15 days to see if tax reductions after implementation of GST have been passed on to consumers. Despite protest from the textile sector over 5% GST on fabrics, the council is unlikely to make any changes, officials indicated.

While at that time the Council had also reviewed the roll out of GST and registration, sources said this would be a more detailed review as there are concerns over online uploading of invoices and filing of returns by over 80 lakh GST assessees.

As per the GST rates, unbranded food items are exempted, whereas branded and packed food items attract 5 per cent rate.

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