In a slowing economy, large businesses want further simplification, while conventional traders already facing the onslaught of e-commerce, want state subsidy for buying computers for efficiency and to comply with the technology-dependent tax system. While GST Council, the federal indirect tax body, has slashed tax rates on goods sharply several times, it has left services more or less untouched. “GST must also cover excluded products such as (fossil) fuels, real estate and electricity to ensure full input tax credit. It is important to simplify GST for multi-state operations, such as single registration and intra-company services," said Kirloskar. This is similar to a scheme available to restaurants and traders of goods with sales up to ₹1.5 crore.

Source: Mint June 30, 2019 19:41 UTC