FAIITA puts forward its GST concerns to the GST Council

With the implementation date of GST (Goods and Services Tax) nearing gradually, the confusion of varying tax slabs on different products are growing among the traders. The variable tax slabs on IT products has created a cause of concern among the IT Channel Partner community of India.

To uphold the concern of Partners, Federation of All India Information Technology Associations, better known as FAIITA has written a letter to the GST Council of India. FAIITA is a registered national body of all state IT federations/ associations. It represents direct business interests of its, 30,000 pan India member-business organizations, pursuing business nearing Rs. 20,000Crores.

In the letter to the GST Council few apprehensions and concerns are brought into the limelight. As per the document the cause of concerns are:

* Submissions on input tax credit of declared inventories of opening stock

* Submission of impracticality of e-way Bill under GST regime

* Submission on requirement for multiple registrations

* Submissions on rationalization of GST Slab for all IT products

* Submissions on reversal of Input Credit availed

Keeping all the aspects in mind, the IT fraternity is appealing for one Tax of 18% without exception on all IT products, one time full rate of input tax credit equal to GGST on the declared inventories carried from the current tax regime to the GST with no limitation of period of purchase, system of e-way bill, penal provisions on purchaser if seller fails to upload the Sale Invoices on GSTN and requirement to register in multiple states in case of source of services existing in multiple state locations.

Tags: FAIITA, GST concerns, GST Council, Goods and Services Tax, GST, GSTN