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As the stage is set for the crucial meeting of the GST Council on Sunday before the goods and services tax regime kicks off from July 1, the Confederation of All India Traders (CAIT) has pitched for an “interim period” of “no–penalty” till March 31, 2018.
CAIT, which has submitted its representation to the Prime Minister and Finance Minister in this regard, wants that no penal action should be taken against trader for any procedural lapses.
“The preparedness at the level of small businesses is at a very low stage and about 60 per cent of traders across the country have yet to adopt digital technology for GST compliance,” Praveen Khandelwal, Secretary General of CAIT, said in a statement on Saturday, adding that CAIT was “not averse for taking action against any habitual offender.’
CAIT National President B.C.Bhartia said there were strong overlaps with the needs of millions of consumers all through the country as far as fitment of GST rates are concerned.
“This has, however, perhaps inadvertently 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,’ he said.
The traders’ body said that 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.”
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