Plywood manufacturers want GST reduced to 18%

Plywood manufacturers want GST reduced to 18%

LUDHIANA: Plywood manufacturers protested the levying of the Goods and Service Tax (GST) here today.

The Punjab Plywood Manufacturers’ Association had given a call for the strike against the imposition 28 per cent GST on plywood.

“The tax slab is too much and we want it reduced to 18 per cent because plywood is widely used by almost everyone as a part of housing and development,” said Ashok Juneja, chairman of the association.

“Higher tax rate is unjustified since plywood is an item which is used by people belonging to all strata of the society. Housing is the basic need and plywood is used in the housing sector or in making furniture. The slab of 28 per cent is too high and we want it to be reduced to 18 per cent,” said Naresh Tiwari, chairman, All India Agro Plywood Association.

Due to the higher tax rate, higher evasion was the set precedent, said the association members.

Meanwhile, wholesale cloth merchants are not ready to open their shops till the 5 per cent GST imposed on textile job work is rolledback. The wholesale market was opened for only two days since the imposition of GST and traders are protesting the GST.

Wholesale traders are giving plea that there was no tax on cloth since independence and imposing tax on cloth has given a blow to them, especially small craftsmen who earn their living by doing embroidery and thread work.

Both wholesale cloth merchants and plywood manufacturers will submit a memorandum to Finance Minister Arun Jaitley tomorrow during the minister’s visit.

Source::: The Tribune, dated 15/07/2017