50th GST Council meet: TN opposes inclusion of Goods & Services under PMLA
"The Tamil Nadu government is opposed to this considering that it will affect traders across the country, especially small traders," he added.
50th GST Council meeting held at Vigyan Bhawan in New Delhi (Image credits: Twitter/ @TThenarasu)
CHENNAI: The Tamil Nadu government on Tuesday registered its opposition to the inclusion of Goods and Services online under the Prevention of Money Laundering Act (PMLA) 2002 at the 50th GST Council meeting held at Vigyan Bhawan in New Delhi.
State Finance Minister Thangam Thennarasu, who represented TN in the meeting, said that the July 7 notification of the Union government to include goods and services online under PMLA, 2002 is against the interest of traders and against the basic objective of decriminalizing violations under the Goods and Services Tax Act.
"The Tamil Nadu government is opposed to this considering that it will affect traders across the country, especially small traders," he added.
புதுதில்லி விஞ்ஞான் பவனில், இன்று நடைபெற்ற 50வது சரக்கு மற்றும் சேவை வரி (GST) கவுன்சில் கூட்டத்தில் தமிழ்நாடு அரசின் சார்பில் கலந்து கொண்ட போது. pic.twitter.com/F9nkEe25iF
— Thangam Thenarasu (@TThenarasu) July 11, 2023
Expressing the State's reservations to recommendations of taxing online games under the GST Act, Thennarasu insisted that the Government of Tamil Nadu has enacted an Act to Prohibit Online Gambling and Regulate Online Games and therefore, the recommendations for taxation of online games under the Goods and Services Tax Act should be in accordance with the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act.
Regarding the local bodies and Union/State Governments currently exempt under the GST Act on receiving services related to the activities of Panchayat and Municipal bodies and joint supply services not exceeding 25 percent of goods in the 11th and 12th Schedules of the Constitution, he reiterated the State's opposition to the proposed amendment to define certain tax-exempt species as it will create an additional financial burden on the local bodies and the State government.
Seeking empowerment of the State Level Selection Committee to select the judicial and technical members to be appointed to the State Benches of the Appellate Tribunal to be constituted under the GST Act, Thennarasu expressed the State's support for the proposed tax exemption to reduce the additional cost of Integrated GST payable on import of expensive cancer drugs for personal use and for the treatment of certain rare diseases.
