In Tamil Nadu, individuals from the business community engaged with the Finance Minister, Nirmala Sitharaman, regarding the Goods and Services Tax (GST). Questions were raised about creating an auto-refund system for accumulated GST, simplifying compliance for small traders, bringing petrol and diesel under the GST regime, and restoring input tax credit for the real estate sector. On the subject of fuel, the minister stated, “as and when the states find it appropriate…we will be able to implement on the petrol and diesel. But that is something which the GST council has to take a call on and our proposal does not include it at all.” In response to other queries, it was mentioned that the input tax credit for real estate was denied at the sector’s own request and that the CBIC would issue a clarification on a transitory arrangement for FMCG products that have seen tax reductions. #gst #gstreforms #nirmalasitharaman #financeminister #itwebvideos #tamilnadu #indianeconomy #taxation #petroldieselprice #realestate #fmcg #smallbusiness #gstcouncil #indiatoday
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