Consult States before fixing GST Council agenda: FM Yanamala Ramakrishnudu

Yanamala said the States have issues particularly related to exemptions and reductions in rates of taxes, some of which are not all discussed, even though several letters are sent to the council.

Published: 11th January 2019 09:46 AM  |   Last Updated: 11th January 2019 09:46 AM   |  A+A-

Finance Minister Yanamala Ramakrishnudu

AP Finance Minister Yanamala Ramakrishnudu (File Photo | EPS)

By Express News Service

VIJAYAWADA: Finance Minister Yanamala Ramakrishnudu took serious objection over the preparing the agenda of GST Council without consulting the States. Participating in the 32nd meeting of GST Council in New Delhi on Thursday, Yanamala said the States have issues particularly related to exemptions and reductions in rates of taxes, some of which are not all discussed, even though several letters are sent to the council.

He demanded that henceforth agenda items be fixed taking into consideration the requests of the states also. The finance ministers representing Karnataka, Kerala and Delhi supported the same.Stating that still there is an unsettled IGST amount to a tune of Rs 7,000 crore, he said the ad hoc settlement should also be done and released to the states without delay. Andhra Pradesh is likely to get about Rs 100 crore in such cases.

The minister said he had supported the proposal to increase in the turnover limit for composition levy from Rs 1 crore to Rs 1.50 crore and also the proposal of filing of annual return with quarterly payment in lieu of quarterly returns, as these proposals benefit small taxpayers by reducing the compliance burden.

On the issue of raising threshold of registration from Rs 20 lakh to Rs 40 lakh for taxpayers dealing in goods, the minister said he also supported the proposal as it will benefit the MSMEs, even though there will be a revenue loss to the State. Yanamala appealed the Centre to compensate the revenue loss of the states. On the proposal of extending composition facility to the service providers of turnover from Rs 20 lakh to Rs 50 lakh, he supported it as it benefits many small service providers from burden.

Stay up to date on all the latest Andhra Pradesh news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp