Plywood industries submitted their suggestion to finance ministry for next general budget 2019-20. Industrialists demand to reduce the present GST slab from 18 to 12 percent in next budget in the memorandum given to government in this regard. Plywood players says, “They are demanding to reduce the GST up to 12 percent since long, if government fulfills this demand then wood panel industry will be benefited in many ways.”
Dr. C. N. Pandey, technical advisor for federation of Indian plywood and panel industry (FIPPI) said in conversation with The Ply Reporter that In order to encourage industry participation and bring in greater transparency, the Finance Ministry has invited suggestions from all industries for general Budget 2019-20. He said that we have submitted our proposals to finance ministry and demanded to bring down the GST slab to 12 percent. Plywood producers said that reducing the GST slab would bring lot of positive changes in the industry. It will also help to industry people to expend their plywood business and new opportunity of employment will increase, said C. N. Pandey.
It is noted that initially GST on plywood was 28 percent but with efforts of FIPPI and AIPMA, the government reduced the GST to 18 %. But the industry views that the GST is still high and need to be reduced further.