HIGHEST GST SLAB MIGHT SEE SHARP TRIM ON FRIDAY

Many commonly used items seem set to become cheaper with the goods and services tax (GST) Council expected to trim the number of items in the top slab of 28 per cent at a meeting to be held in Guwahati on Friday. Furniture, electric switches, shampoos, sanitaryware and handicrafts might be brought to 18 per cent, from 28 per cent now, sources said.

The six-member advisory panel formed by the government for simplifying and rationalising the goods and services tax (GST) has received more than 700 representations on problems faced by industry over return filing, the e-way bill, input tax credit, and exports.

The committee will now meet for the first time on Wednesday to take up these issues, ahead of the crucial GST Council meeting on Thursday in Guwahati. Some of its recommendations may be taken up by the Council.

The panel includes representations from trade and industry. “The government is open to taking feedback from industry and rectifying the anomalies in the law. We are putting in efforts to make the GST industry-friendly and will be open to incorporating suggestions by the advisory panel,” said a government official.

The final report of the group will be submitted on November 30 and discussed in the subsequent meeting of the Council. “If the panel comes to a conclusion on certain issues, we may like to meet the finance minister and give interim suggestions that may be taken up in the Council meeting on Friday,” said Praveen Khandelwal, secretary general of the Confederation of All India Traders and a member of the advisory committee.