Indian Sellers Collective, an umbrella body of trade associations and sellers across the country, on Thursday urged the Finance Minister and the GST Council to reject the recommendations of the Group of Ministers (GoM) on GST Rate Rationalisation.
The sellers body cautioned that a new fifth GST slab of 35% and pricing-based rate structure would materially and fundamentally alter the country’s GST framework with devastating outcomes.
“All the gains of the GST regime will be wiped out, with permanent damage to the vast age-old retailer network of India, if the GoM recommendations are adopted,” alerted Abhay Raj Mishra, Member & National Coordinator, Indian Sellers Collective.
Traditional Indian retail was already being eroded by e-commerce and quick-commerce, and such a massive shift in GST would be its final death knell, he asserted.
‘’The GoM has been misguided by vested interests who want Indian retailers and intermediaries to weaken and become subservient to their agenda,’‘ he further said.
Dhairyashil Patil, National President AICPDF (All India Consumer Products Distributors Federation) said, “The Indian retail community would like to make a heartfelt appeal to the Honorable Prime Minister, Finance Minister, and the GST Council not to accept the recommendations which are against the principle of rationalisation and simplification.’‘
This move, if implemented, would exacerbate the struggles of an already beleaguered retail community, he added.
Published – December 12, 2024 08:19 pm IST
