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11-May-2015

Karnataka Hosiery and Garment Association (KHAGA) had said proposed Goods and Service Tax (GST) is not in the 'Standard Format' of the GST and it is a dual Tax on which both state and centre will collect tax on a single transaction of sale of supply of Goods and Service. The trade and industry have been waiting for an indirect tax in which only one tax would be there but in the proposed GST is not as per the expectation of large number of trade and industry.

In a memorandum to the union finance minister, Arun Jaitely, the KHAGA said at present the central excise is being charged on the value of more than 1.50 crore but in the proposed system CGST replacing the central excise will be imposed on Rs.10 lakhs hence, large number of dealer will have to pay CGST who at present are not covered in the central excise.

KHAGA urged the finance minister to keep food grains, textile etc on zero tax rate and readymade garments being a basic necessary needs special attention too as agriculture and garment industry provide higher employment in the country.

The association said "We are the representatives of the small trade and industry covering Karnataka not against basic concept of GST but the Indian economy and trade and industry will get the proper benefit of the GST once it is introduced in its 'Standard Format' and only one indirect tax is introduced instead of this proposed dual GST".

KHAGA said 'we request your good self to start working on a 'National Goods and Service Tax' under a central collecting agency and distribute the revenue of the same between the states and the centre and if this is not possible in the present political situations than please postpone the proposed GST for the overall benefit of the trade and industry. 

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