GST allowance for Salaried class people
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Hon'ble PM / FM,
We have supported you for “One Nation One tax”.
I would like to bring your notice that Salary employee is paying 30.9% Tax. Further, depositing 24% of his salary (employer and employee salary) with the Government from their annual CTC .
Hence, Salary employee have no option but left with cash in hand of 45.10%.
With increasing in scope of supply of goods and services under CGST Act, almost all services are liable for GST at the rate of 18% that is additional burden for salaried employee.
Business / corporate / private / public companies are getting input credit tax against output tax liability of GST. Similarly, on behalf of Salary class person who are most honest in paying tax, would request you to introduce GST allowance of 20% deduction from Gross salary.
As most of us are aware, the annual increment in the salary (which in most cases is not very significant) would not be sufficient as compared with the corresponding increase in indirect taxes, which have been steadily increasing each year.
The Hon’ble Finance Minister Mr. Arun Jaitley had mentioned in his Budget speech in 2015 that corporate tax rate will be reduced to 25% in a phased manner in the next 4 years. Among others, Yoga income, dividend income, etc are exempt from tax. However salaried class continue to be burdened with a high tax rate of 30% and additional tax of GST.
Hence, request everyone to sign my petition and request the Prime Minister / Finance minister for giving the GST allowance of 20% on salary income and lower the tax rate applicable to salaried individuals and being it on par with the corporate tax rate which is likely to be 25%. The revenue deficit can be recouped through the increase in the GST revenue for the Central Government.
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