Tamil Nadu Foodgrains Merchants Association, Madurai, has demanded a rollback of the 18% Goods and Services Tax (GST) under the Reverse Charge Mechanism for rent paid to buildings and commercial establishments meant for business purposes.

The association along with the All Merchants Association Federation, Madurai, condemned the 18% GST. Traders in Madurai district downed shutters in protest on Friday.

Tamil Nadu Foodgrains Merchants Association President S.V.S.S. Velshankar said that the 18% GST for tenants of commercial rented buildings under the Reverse Charge Mechanism implemented from October 10 would be a burden on the small scale traders. Large scale traders and manufacturers would be having their own spaces and they would not be affected, he said.

The stakeholders were ready to protest against the defects and shortcomings of GST and this was the first phase of the protest. If all the protests were done unitedly, then genuine demands and suggestions of stakeholders would be fulfilled. More than 100 trade associations have supported the protest, he said and thanked the office-bearers and members of the associations that participated in the one day protest.

Source : The Hindu