Organised fan manufacturers seeks 12 per cent GST slab

By: |
Kolkata | Published: September 20, 2018 4:24:25 PM

Fan manufacturers in the organised sector are seeking a reduction in GST slab from 18 per per cent to 12 per cent for which representations have been already submitted to the GST Council.

fans, gst, gst slab, gst news,gst news latest, gst news trending, gst news important, gstVice-chairman of IFMA  Atul Jain told reporters here Thursday that in the organised sector, 54 million fans were manufactured annually and the growth rate of the industry was in tandem with the trend in GDP growth. (Reuters)

Fan manufacturers in the organised sector are seeking a reduction in GST slab from 18 percent to 12 per cent for which representations have been already submitted to the GST Council. Indian Fan Manufacturers Association (IFMA) said that fans were a basic necessity in a tropical climate like India and being used by all strata of the society.

Vice-chairman of IFMA Atul Jain told reporters here Thursday that in the organised sector, 54 million fans were manufactured annually and the growth rate of the industry was in tandem with the trend in GDP growth.

In the unorganised sector, 20 million fans were manufactured, he said. “We have been informed by the GST Council that our representation has been forwarded to the Fitment Committee for their views and reconsideration”, he said.

He said IFMA was working closely with the Bureau of Energy Efficiency, Energy Efficiency Services Limited and Bureau of Indian Standards to facilitate manufacturing of energy efficient fans.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1APMCs failing to implement Pledge Fin Scheme face dissolution: Maharashtra minister
215th Finance Commission Chairman NK Singh disowns his own panel’s official criticism of Maharashtra
3India Russia seek deeper cooperation in Space, Agriculture and Pharma