Traders asked to ensure that public benefits from the GST rate rejig

With the Goods and Services Tax (GST) rate revision coming into effect from Monday (September 22), the State GST department has directed traders and service providers to ensure that the benefits of the revision are made available to the general public.

Traders and service providers have been directed to make the necessary changes in the billing softwares for issuing tax invoices in line with the revision.

The department also noted that the 40% tax on items such as cigarette, beedi, gutka and pan masala will not come into effect on September 22.

This higher tax would come into force through a separate notified date. So the existing rates will continue to apply for these items. The closing stock as on September 21 should be specially recorded for items in stock that are subject to the revision.

The 56th GST Council which met in New Delhi on September 3 had revised the rate slabs into a two-tier structure of 5% and 18%, with an additional higher slab of 40% on some items.

The notifications on the measures to be adopted by traders and service providers can be accessed on www.keralataxes.gov.in, the department said.