Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Truckers to go on strike from October 9, demand diesel inclusion in GST

Author: IANS/Sunday, October 8, 2017/Categories: TRACKING THE GST

Truckers to go on strike from October 9, demand diesel inclusion in GST

Kolkata - Calling for a 36 hour nationwide strike starting from 8 a.m. of October 9, truck owners and operators on Saturday protested against the disruptive policies under Goods and Services Tax (GST) and demanded the inclusion of diesel in the new indirect tax's ambit.

Supplies of commodities including food are likely to be affected due to the proposed token strike.

"The post GST scenario has critically impaired the transport trade. The leadership of All India Motor Transport Congress (AIMTC) and other transport associations have proclaimed the two day token nationwide strike starting from 8 a.m. of October 9 (Monday) to 8 p.m. of October 10. We also support this," Calcutta Goods Transport Association (CGTA) President Prabhat Kumar Mittal said.

He said there was utter confusion, chaos and disruption due to varied policies under GST that are imposed on the road transport sector.

"The exorbitant increase in the diesel price and daily fluctuations are affecting the road transport sector. The diesel and tolls account for more than 70% of operating cost of the truck, though diesel is out of GST. Diesel must be brought under GST top bring uniformity of diesel pricing across the country," he said.

Transporters also demanded the revision of diesel prices should be done on a quarterly basis.

According to them, confusions arose with the existence of Reverse Charge Mechanism (RCM) and Forward Charge (FCM) in GST system.

"This is a token strike to highlight the legitimate concerns and gravity of the present disruptive conditions. More than 80 lakh trucks are expected to be off the road during the strike," AIMTC Executive President S.K. Mittal said.

Transporters were not able to lift goods from unregistered traders as that would require transporters to pay GST on these traders' behalf under RCM. The GST system also provides another scheme through which transporters can also avail FCM, where they need to pay 12% GST but claim full input credit.

"The contra laws in the present GST regime are leading to coercive registration and unnecessary compliances by truckers and transporters. The government has put options under GST double taxation in the RCM and FCM for 5% and 12% respectively," said Tapan Bhaduri, Organising Secretary of Truck Owners' Association of Bengal.

There should be only one scheme – 5% in RCM to avoid confusion in trade world, said CGTA Vice President Santosh Saraf.

The sale of used assets also attracts GST which leads to double taxation, Bhaduri said, adding that the proposed E-way bill is not in tune of with the working of the road transport sector.

However, Federation of West Bengal Truck Operators' Associations' Joint Secretary Sajal Ghosh said they would not support the proposed strike and their trucks would ply on roads.

"The two-day token strike was called without our consent. We convened a meeting and decided that our trucks will ply on roads. We have not found much difficulties in GST regime so far," he said.

Print Rate this article:
No rating

Number of views (298)/Comments (0)

S Vijaykrishnan
S Vijaykrishnan

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free