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Roll back 18% GST on development works
IT Minister K Taraka Rama Rao on Saturday said that five important aspects he had deliberated on five issues related to Telangana at the GST General Council meeting.
Delhi: IT Minister K Taraka Rama Rao on Saturday said that five important aspects he had deliberated on five issues related to Telangana at the GST General Council meeting.
Taraka Rama Rao, who participated in the meeting in lieu of Finance Minister Etala Rajender, said that development works worth Rs 2,00,030 crore are under progress in the State. These include irrigation development works (Rs 1,00,000 crore), the Mission Kakatiya (Rs 20,000 crore), the Mission Bhagiradha (Rs 40,000 crore), the double bed-room houses for the poor (Rs 30,000 crore).
The council meeting vehemently opposed imposition of 18 per cent tax on development works. The meeting urged for a status quo on the issue. The development works were initiated considering the VAT tax on them to be 5 per cent.
The 18 per cent tax on the development projects would force a burden of Rs 19,200 crore on the State. A firm stand has been taken on the issue and the state would not hesitate to go to court, it was informed at the meeting.
As a result, the Union Minister agreed to slash it to 12 per cent, KTR said.The states were firm on imposing a VAT of 5 per cent on works for which tenders have been cleared. The Union Minister said that he would think over it.
The Telangana stand was supported by Jarkhand, Rajasthan, Punjab, West Bengal and Gujarat. In view of mega textile park coming up in Warangal and apparel park at Sirsilla, the meeting was urged to slash the GST on textile sector. The Union Minister agreed to hold the GST council’s 21st meeting in Hyderabad on September 9.
