PRESIDENTS DESK

From the President’s Desk                               

 

Dear Members,

 

In my earlier message, I had conveyed that Organization of Plastics Processors of India has made detailed Representations to Shri Arun Jaitley, Hon. Finance Minister - Government of India; the Revenue Secretary, GoI; to various GST Council Members; to FICCI; to CII and to several other state agencies regarding eliminating the anomalies in the 28% GST rate levied on following plastics products:-

 

  • CHAIRS  (HSN Code No. 9401)
  • Plastic Molded Furniture  (HSN 94018000)
  • Interlocking Mat – (HSN 39269099)
  • Flasks  (under sub-heading 9617)
  • PVC Floor Covering (HSN 391810)
  • YOGA MAT  (HSN 95069190)

 

The GST Council in its 23rd Meeting held in at Guwahati, Assam on 10.11.2017 has finally reduced the GST Rates on the above-mentioned items from 28% to 18%. Now GST on all Plastics Materials & Products is at a flat rate of 18%. The credit for this achievement goes to OPPI members and our Secretary General, who have worked tirelessly towards this goal.

 

Furthermore, the GST Council has also simplified compliance requirements for small & medium businesses. The reduction in GST rates and simplification of procedures are both welcome and should have a positive impact on our economic pace.

 

One takeaway from these developments pertaining to tax rates is that the GST Council and the union & state Finance Ministers have become more confident about the efficacy of GST. Moving items to lower tax slabs may, at first glance, appear as revenue loss. However, world-over it is proven that a well-designed & well-balanced tax system actually boosts economic growth which eventually translates into higher revenue for the government.

 

As you are aware, PLASTINDIA 2018 is completely booked with two months until the start of the exhibition on 7th February 2018. The Organization of Plastics Processors of India is continuing to make intensive efforts for Business Visitors Promotion. Details of these were given in our September 2017 issue of Plastiscope. Mr. Deepak Lawale is also undertaking a visit to Nigeria for Business Visitors Promotion. Thus, it is expected that PLASTINDIA 2018 will see a large number of Business Visitors from many countries. We urge all our members and readers to participate, visit, engage and avail maximum benefits from PLASTINDIA 2018

 

With Best Wishes,

 

 

Achal Thakkar

President