Quick Summary
Traders in Kerala have expressed concern that the recent GST exemptions may be benefiting large corporates at the expense of small and medium trading establishments. The State President of Kerala Vyapari Vyavasayi Ekopana Samithi and National Secretary of the Confederation of All India Traders (CAIT), Manoj, highlighted that within 10 days of the revised tax structure, several large companies reportedly raised prices on their products, triggering worries about profiteering. "The GST exemptions
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FAQ :
Kerala traders are concerned that recent GST exemptions are favouring large corporations, potentially at the expense of small and medium trading establishments.
Within 10 days of the revised tax structure, several large companies reportedly raised prices on their products, leading to worries about profiteering.
Traders are confused about the list of goods with reduced GST, as some products have seen tax rates fall from 18% to 5%, while others remain at 18%, and combination products attract higher rates.
Traders have to rely on new purchase bills from companies to correctly understand which products have reduced GST rates.
Supermarkets and retail chains are experiencing operational difficulties due to delays in software updates needed to categorise GST-exempt items across thousands of SKUs.
Manoj suggests that GST exemptions favouring large corporates for profit hunting need to be curbed at the production level itself.
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