GST issues for tea auction sorted out

The billing impasse in tea auction following rollout of the Goods and Services Tax (GST) from July 1 has been sorted out, an industry player said on Thursday.

"Issues in relation to raising invoices after applying GST for tea auctions have been sorted out," Calcutta Tea Traders Association (CTTA)'s Chairman Anshuman Kanoria said.

Kanoria said sale number 27 in the city's auction centre started on Thursday afternoon and would continue till Saturday. Auctions in Siliguri and Guwahati centres also started from Thursday morning.

These three centres adopted a uniform model to comply with the GST, he said.

According to him, the auction at the Kolkata centre was supposed to be conducted on July 4 but was deferred for one-and-half days for better understanding of both Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) rules for raising invoices.

The tax invoice would comprise 2.5 per cent SGST and 2.5 per cent CGST.

--IANS

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