Entrepreneurs in Noida demand lowering of GST on home appliances
With consumer durables attracting a GST of 28%, a group of entrepreneurs from Noida have approached UP Finance Minister Santosh Kumar Gangwar and demanded the lowering of tax levied on home appliances. Noida Entrepreneurs Association's (NEA) president Vipin Malhan urged Gangwar to decrease the GST citing the reason that people belonging to the economically weaker section also used the basic household appliances.
28% GST on consumer durables to affect poor: Entrepreneurs
Noida Entrepreneurs Association (NEA) president, Vipin Malhan urged Gangwar to reduce GST on household appliances as the gadgets were used by poor consumers too. Explaining further, he said that consumers will have to bear an additional burden of 23% under GST. He added that 28% GST on electric cable should be brought down to 18% citing the same reason.
Post GST, consumer durables turn dear
Consumer durables like television, air-conditioner, refrigerators and washing machines now attract cumulative tax (excise and value-added tax). According to businessmen, following the 28% GST tax rate, prices have gone up by 2-3%, depending on the state. Meanwhile, prices in cities like Mumbai will come down as there is an additional octroi of 5% on consumer goods as reported by durable goods manufacturers executives.
GST on lease rent: NEA demands lowering of tax rate
The Noida Entrepreneurs Association members also demanded that the GST on lease rent payable to the Noida authority be brought down from 18% to 5%. NEA president Malhan said that allottees have to pay lease rent at the rate of 2.5% of the allotment cost of the plot to the Noida authority annually, post GST, which is a burden on the common people.
