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Plastindia Wants GST Anomalies on Plastics Removed
June 14, 2017
Although Plastindia Foundation, the apex body in the plastics industry, said that it welcomes the GST regime, it wants the anomalies in the new taxation system on assorted plastic products that are used on a day-to-day basis to be removed.
K K Seksaria, Plastindia Foundation President, said that the plastics industry has greatly contributed to the country’s GDP, as it continues to grow at 10% on annual basis. According to him, SMEs will be affected by GST the most as they form 95% of the entire industry. GST council was supposed to set 5% rate to the day-to-day plastic items, however, the majority of these items are put under the 18% tax slab.
