Traders’ body CAIT on Monday made a case for lowering the GST rate on beverages from 28 per cent, which comes to 40 per cent after inclusion of cess, arguing that it blocks the working capital of small retailers.
The Confederation of All India Traders (CAIT) urged the union finance minister to consider reducing GST rate on beverages and suggested that India should move to a Sugar Based Tax (SBT) system keeping the tax slabs proportional to the sugar in products, which means, higher the sugar in products, higher the tax.
Source: a2ztaxcorp.com
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