TN seeks GST Council to revise tax rates based on market conditions

Chennai, Sept: Tamilnadu has informed the Goods and Service Tax Council that a decision on restructuring GST rates should be taken based on the revenue generated and conducive economic conditions.

State Fisheries Minister D Jayakumar made the submission at the 15th GST Council which met in Goa today.

“Based on increase in GST revenue to sufficient levels and conducive economic conditions, a decision on restructuring of GST rates can be taken”, an official release quoted the Minister as saying at the meeting.

Referring to the Council’s proposal that there should be gradual removal of GST exemption on some products, he said it was not acceptable to Tamilnadu as it would affect small traders, farmers and others.

Jayakumar also urged the Council not to bring petroleum and electricity under GST, considering the state’s autonomy.

Noting that GST compensation was being distributed to states in a uniform way only upto 2022, he urged that it be continued even after the end of the five year tenure.

Goods and Service Tax was implemented on 1 July, 2017. The Minister requested the Council to set up Appellate Tribunals.

To benefit the fishermen community, there should be total GST exemption on “fish meal” with effect from 1 January, 2019,  he added.