Bharatiya Janata Party (BJP) has stated that the GST council has made the food grains tax-free by keeping it out from GST. This decision would control the rising prices of the food grains.
BJP’s State President and Parliamentarian Nandkumar Singh Chouhan has stated that Union Finance Minister Arun Jaitley has announced that there would be four slabs of GST, in which the Panel has approved GST rates at 5 percent, 12 per cent, 18 per cent and 28 per cent. The items which were imposed with the production and VAT tax of 30 to 31 per cent would come under the 28 percent slab of the GST. luxury cars, pan masalas, tobacco and cold drinks would fall under this slab.
Chouhan further stated that a Secretary level committee would present these rates in the parliament the Goods and Services Tax (GST) would be implemented from April 1, 2017, after presenting it in the parliament. The whole country would be an integrated market after the implementations of the GST on April 1, 2017. The central government would adjust the damages on the revenue of the state government within five years. Central government would recollect this amount by imposing cess and green energy cess. GST council has reduced the proposed tax from 6 percent to 5 percent after the suggestion of Madhya Pradesh, he added.
Chouhan further added that Minister of State for Finance Jayant Malaiya has represented the state in the GST council meeting. Madhya Pradesh would be benefitted with this taxation. Most of the materials would be covered in the 12 percent slab or in 18 percent slab. People of the middle class would be benefitted as most of the items would fall in the 18 percent slab of the GST. GST would lure the foreign investor and businessmen as well as it would also control the inflation.