Union Minister of Commerce and Industry Nirmala Seetharaman said that GST has been brought for national good. Speaking at a dissemination meet on GST at Madurai today, she said it will bring uniform taxation all over India.<br/><br/>AIR correspondent reports Union Minister Nirmala Seetharaman allayed the fears of small traders about Goods and Services tax at Madurai. She explained to them that only 5 per cent GST has been charged on industries with turnover above Rs 20 lakhs. The Minister pointed out that no tax is being charged on industries with turnover below Rs 20 lakhs. <br/><br/>Small traders had doubts over GST charged on packaged idli batter and the minister promised to resolve the problems. GST was finalized in a council which had finance ministers of 29 states as minister. GST is implemented not for revenue generation but to rationalise and bring uniform taxation all over India.
News On AIR | July 9, 2017 8:06 PM
GST brought for national good says Seetharaman