Reduce GST Rate on Services to 12%

Reduce GST Rate on Services to 12%

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Atul CA Singhal started this petition to Ministry of Finance and

GST Collection has touched all time high of Rs. 1.15 Crores in the month of Dec 2020. It is right time to reduce GST Rate on Services. 

In past government reduces rates on hundreds of goods but GST on Service Sector is still the same. 

Currently Government is charging 18% GST on Taxable Receipt by Service Providers. The Rate is too high. In most cases, GST Rate is more than their profit margin. 
Moreover GST is indirectly borne by Consumers. So as a overtaxed Consumers, we should demand reduction in GST Rate on Services. 

Service sector includes services by chartered accountants, services by bank, telephone and mobile bills, TV and internet bills, medical testing even all type of insurance premiums etc. which are now a necessary part and parcel of common human life.

Most of the services are direct consumer oriented hence are not subject to input credit barring some rare cases.

The rates of service sector can be rationalized by introducing different rate of GST keeping importance of services in mind.

In addition to reduction of normal rate of GST from 18% to 12%, We also demand to give a composition scheme to all service providers to pay GST @5% only without taking input credit and without passing input credit to another business. 

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