“The preparedness at the level of small businesses is at a very low stage and about 60 per cent of traders across the country are yet to adopt digital technology for GST compliance and as such interim period will give ample opportunity to the traders to understand GST Law, Rules & Regulations in its true spirit and also compliance related issues which we may occur from time to time during GST operation in the country,” CAIT secretary general Praveen Khandelwal said.
However, CAIT is not averse for taking action against any habitual offender, he added.
CAIT national president BC Bhartia said that there are strong overlaps as far as fitment of GST rates is concerned. This has resulted in bracketing items pertaining to either mass consumption or similar to raw material items, daily use products, health or food items in slabs which are higher than where they should be placed. “This may augur well for revenues but may fly contrary to the Government’s larger public policy and objective of enlarging the scope of tax net in the country. In absence of any direct interaction with the trading community, several confusions are being caused due to unauthorised or misleading propaganda about GST,” Bhartia said.
With job creation perhaps being the single most important contemporary challenge in front of the Government, it’s only prudent that the legitimate concerns of the 5.7 crore strong trading community in India be looked at and addressed. In fact, there are genuine livelihood concerns involved which should be taken care of before a tectonic policy shift such as the transition to the GST regime can be actualised, he added. (RKS)
Fibre2Fashion News Desk – India
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