VIJAYAWADA: Finance Minister Yanamala Ramakrishnudu has urged the GST Council to reduce tax on 29 items and exempt the TTD from GST. Participating in the 29th GST Council Meeting held in New Delhi on Saturday, Yanamala welcomed the proposal to extend concessions/incentives to Micro Small and Medium Enterprises (MSMEs). After underscoring the need for studying both financial and legal issues involved in various industries of MSME sector, he suggested to set up Legal and Fitment Committees to study the issues and submit note to the Group of Ministers, which will be taken up for further discussion in the GST Council.
However, he said the financial burden of the concessions/incentives that are intended to extend to the MSMEs, should be borne by the Centre in the form of reimbursement of CGST/IGST. Apart from the TTD, he also sought GST exemption for Girijan Co-operative Corporation (GCC), which sells forest produce. Seeking reduction of GST on cement from 28 to 18 per cent and on movie tickets from 18 to 12 per cent, he also sought exemption of GST on aqua, other feed and feed supplements, plastic waste, jute twine and jute bags, fishnets, fishnet fabrics and fishing boats.
Dry tamarind, fried gram, rice brawn, cotton hank yarn, silk yarn and handloom products, UHT milk, traditional handicraft works of AP like Kondapalli, Kalamkari, Etikoppaka, and vehicles for the physically challenged should also be exempted from GST, he said. Welcoming the move to provide incentives on digital payments, he, however, said it should be implemented in a transparent manner.