: Segment of Traders up in arms against GST; terms it Colonial #FinanceIndia #StockMarketNEWS Segment of Traders up in arms against GST; terms it Colonial New Delhi, Jul 1 (KNN) On completion of four

@StockMarketNEWS Thu 01 Jul, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Segment of Traders up in arms against GST; terms it Colonial #FinanceIndia #StockMarketNEWS
Segment of Traders up in arms against GST; terms it Colonial New Delhi, Jul 1 (KNN) On completion of four years of GST implementation in India, the Confederation of All India Traders (CAIT) on Thursday termed it as colonial taxation system".

Much against the declared spirit of GST as Good & Simple Tax , the GST has become a "colonial taxation system" not compatible with the ground realities of business conducted in India and available resources with the traders, the traders body said in a statement.

It also said that various amendments and introduction of Rules under GST in the recent past have made the taxation system much complicated and put much compliance burden on the traders, which is also against the vision of Prime Minister Narendra Modi for bringing ease of doing business.

The CAIT has sought an appointment with the Finance Minister Nirmala Sithraman to discuss the current situation of GST and as to how it can be made more business friendly, the statement further read.

CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that it is not alone the central government but largely the state governments are more responsible for distorting GST taxation system and bringing disparities and anomalies in GST making it a more complex system and a big headache for the traders.

The duo also said that even after 4 years of GST implementation in India, the GST portal is still struggling with many challenges. The rules are amended but the portal fails to update with said amendments timely. So far no National Appellate Tribunal has been constituted. No Central Advance Ruling Authority has been constituted giving a free hand to States to interpret the law in their own way distorting the fundamentals of "One Nation-One Tax".

The GST Authorities are more interested in GST compliance but never thought that a large chunk of traders in the country are yet to adopt computerization in their existing business format and no step has been taken to equip the traders with computers etc, they added.

The trade leaders further said that in the recent past, the GST Council has thrown all canons of natural justice by empowering the Authorities to cancel GST Registration of any trader without giving him any notice or an opportunity of hearing.

Unfettered and arbitrary powers are given to officers without realizing the misuse of such powers which may lead to corruption, they said.

The GST law has been greatly distorted by the authorities which is evident from the fact that since the date of GST implementation till May 31st, more than thousand notifications have been issued and interestingly the traders have not been allowed to rectify their returns even for once.