Assuring traders that the GST regime would not affect their business, the Yogi Government has decided to send its ministers to district headquarters to make people aware about the virtues of Goods and Service Tax and remove misconceptions if they have any. The decision was taken at a cabinet meeting held in lucknow on Tuesday.
Briefing reporters, Government spokesman and Power minister Shrikant Sharma said that the market economy will change after implementation of GST from July 1.
“There are some misconceptions but the traders should not fear. Ministers will hold meetings with traders. They will also hold seminars and redress problems of traders,” Sharma said. Speaking on t he new tax rehime, Sharma said, “This tax system is bound to transform markets where consumer will be the biggest beneficiary. Appreciation of this system has come from none other than US President Donald Trump.”
Sharma said that traders having a turnover of up to 20 lakh need not to register for GST. The registration of other traders is mandatory and the entire process will be completed within three days.
Under GST, traders with turnover of 75 lakh will be offered a compounding benefit of 1 per cent, entrepreneurs 2 per cent and for the rest, the benefit will be 5 per cent.
“Consumer states like Uttar Pradesh will be the biggest gainer as its revenue share is likely to jump up from Rs 52,000 crore to Rs 60,000 crore. The Union Government has also assured compensation to states for the next five years, if they suffer any losses,” Sharma said.
“People will stand benefited in the next tax regime and the prices of 80 per cent commodities will come down. Traders need not worry about their stock as it will be carried forward in the next tax regime provided their books were properly maintained,” he said.
The state cabinet has decided to scrap Section 6 of UP Panchayat Rajya Adhiniyam, 1947 which talks about setting up of Nyay Panchayat. These panchayats were last formed in 1972. “As this system was not in operation for the last 37 years, the cabinet has decided to scrap the clause,” he said.
In another decision, the Government has decided to appoint doctors and para-medics in ESI hospitals on ad hoc basis.
“The ESI hospitals are facing paucity of doctors and para-medics and therefore the Government has decided to appoint retired employees on an ad hoc basis,” Sharma said.
The cabinet also approved expansion of geographical area of Gangaganj Nagar Palika Parishad in Unnao.
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Uttar Pradesh Jal Nigam will sign an MoU with Israel during Prime Minister Narendra Modi’s visit to Israel slated for July 5.
Government spokesman Shrikant Sharma said that officials of UP Jal Nigam will sign the MoU with corresponding Israeli department for transfer of technology in water preservation and drip irrigation.
“This will be for first time that a UP-specific MoU will be signed during Prime Minister’s foreign tour,” Sharma said, adding that a few official from Jal Nigam will also be part of the PM’s entourage.