The Bharatiya Janata Party (BJP) has claimed that with the implementation of GST system in the country the inflation would come down by two per cent.
BJP state general secretary Vishnu Dutt Sharma in a statement here on Tuesday said, “The central government in a public interest initiative to ensure benefits of prices going down to the consumers on implementation of GST has inculcated to the commerce industry not to raise prices before implementation the new tax system.”
Sharma further said that the prices of commodities would go down and inflation would drop by two per cent from July 1 this year, the day when the GST would be implemented in the country. Prices of products and services would come down because the expenditure over goods would become less. The central Government has told the business community that the benefit of the lowering of prices should reach the consumers till the inflation is controlled, he added.
He said that a Anti-Profiteering Authority has been constituted to check the balance sheet for knowing the production cost. The centre has also such arrangements that business community could not increase prices before the implementation of the GST. During the meeting of the GST council in Srinagar last week tax slab of 1200 commodities were fixed due to that rates of many goods would come down, he added.
The BJP state general secretary said the food grains and many other food products have been kept in zero per cent tax slab while the GST council have kept 55 goods in special cess category.
These products are either harmful for the society or are luxury goods. The amount collected through this cess would be provided to the states to compensate the losses occurred to them, he added.