Traders pitch for simpler GST

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Traders pitch for simpler GST

Traders across the country have urged the Centre to simplify the procedures of the Goods and Services Tax (GST) this year to bring small businesses under the indirect tax regime.

Half of the seven crore small businesses in the country can be brought under the indirect tax regime if its procedures were made simple, the Confederation of All India Traders (CAIT) stated.

“If the Goods & Services Tax (GST) procedures are made simple and traders are not unnecessarily harassed or victimised, it will inculcate a confidence among the trading community about GST and more and more people will come under formal economy,” a member of CAIT said in a statement.

He said there were about seven crore small businesses in the country and approximately half of it can be brought under GST, if it was made a trader-friendly tax regime.

According to the CAIT, traders across country faced many difficulties including glitches in the GST portal, “irrational classification of goods in different tax slabs, complicated tax procedure, non-availability of refunds from the tax authorities and complicated return forms.”

“Only 35 per cent of the trading community having computers is a major compliance issue. Very less awareness about GST Law, Rules & Regulations among trading community is a big challenge, which need to be looked into in order to generate more voluntary compliance of GST in the country,” it said.

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2019-01-04 19:14:16

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

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