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  • States should de-notify GST Items from APMC ACT ( 1 )

    Jun 18th, 2017

    <p>According to the finance minister&rsquo;s statement in the parliament, India will become one economic market with the roll-out of GST.But some states still have separate marketing levies for agro commodities under the APMC Act &amp; Rules. This levy is fixed on purchase turnover. Under the GST Act, the reverse tax is to be paid on URD or direct purchases even under the composition scheme. This tax is also on purchases.</p> <p>A single economic market is not possible when there is a separate State Marketing Act.GST is on turnover. So there can not be any other levy on the turnover. If a commodity is notified under both the State Marketing of APMC and Central Marketing of GST, only the superior courts can decide the real authority.APMC Act is already established Act in many states. So if traders get a decision in favor of APMC or at least a stay on GST, commodities notified under the APMC Act will have to be kept outside the purview of GST. Then the implementation of GST will become only partial. Central Government may not reimburse this loss. States should move in a new era of GST by removing GST commodities from the APMC Act.</p>


    Source: http://worldcashew.com
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