New Delhi: Unhappy with either the GST rates proposed or the requirement of rigorous record-keeping, traders in a few sectors in specific states are protesting the rollout of the Goods and Services Tax (GST) from 1 July.
But the governing body for the uniform indirect tax, the GST Council, is of the view that GST rates are fixed as close as possible to the current tax burden on goods and services. Also, small traders, manufacturers and restaurants below annual sales of Rs75 lakh can sign up for a presumptive tax scheme and pay a 0.5% to 2.5% tax on sales and avoid the compliance requirement of large businesses.
A look at the sectors in specific states that are protesting the GST rollout:
*The “change in law" clause may enable developers to pass on extra tax costs.