Punjab Finance Minister thanks GST council for reducing tax on pencil sharpeners

CHANDIGARH: Punjab Finance Minister Harpal Singh Cheema on Saturday commended the GST Council for accepting the state's demand of lowering the goods and services tax on pencil sharpeners from 18 per cent to 12 per cent.

Participating in the 49th GST Council meeting held under the chairpersonship of Union Minister for Finance Nirmala Sitharaman in New Delhi, Cheema said that this decision would provide some relief to students and their parents, according to a state government release.

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Cheema had opposed the proposal of considering the GST on pencil sharpeners at 18 per cent instead of the existing slab of 12 per cent, while participating in the 48th meeting of the GST Council through video conferencing on December 17. The Punjab FM also thanked the GST Council for deciding to clear the entire pending balance GST compensation for June 2022.

This has become possible due to concrete and persistent efforts made by the Chief Minister Bhagwant Mann-led Punjab government, he claimed. Cheema this decision would help the state in getting Rs 995 crore as balance GST compensation pending for June 2022.

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On the issue of the GST Tribunal, Cheema said this power should be given to the states to strengthen the federal structure of the nation rather than establishing the appellate tribunal at the national level. India is a big country and every state has its own challenges, he said.

“Instead of forming a tribunal at the national level, each state should have its own tribunal so that issues related to GST can be resolved better and faster”, he added. He further added that the selection of the state member for the tribunal should also be decided by the states. He said that the state government would study the final draft amendments to the GST laws for its comments.