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June 14, 2016

There is universal support for GST: Amit Mitra

There is universal support for GST: Amit Mitra

Dr Amit Mitra, the Finance, Commerce and Industries Minister of West Bengal, who is also the Chairman of the Empowered Committee of Finance Ministers on GST, today said that there was universal support for GST.

“The enthusiasm and participation today was very high. 23 Finance Ministers attended the meeting today in Kolkata,” Dr Mitra said. He added that every State presented their perspective and there were only two issues regarding which there are concerns.

“The first issue is that of dual control – between Centre and State. The panel today took a decision that only above a limit of Rs 1.5 crore will the dual control come into play. Small entrepreneurs will remain out of GST ambit,” Dr Mitra said.

The issue of Revenue Neutral Rate (RNR) will be taken up during a meeting in July, the Minister added. “There are two suggestions, one putting the RNR at 17% and the other at 26%,” the WB Finance Minister said while adding that officials have been asked to submit presentations based on which the committee will decide the optimal RNR.

Dr Mitra asserted that GST was a win-win for all and will benefit industry as well as the consumers. He also reiterated Mamata Banerjee’s support for GST.