: CAIT to release white paper on GST regime #FinanceIndia #StockMarketNEWS CAIT to release white paper on GST regime New Delhi, Feb 15 (KNN) The Confederation of All India Traders (CAIT) has said that

@StockMarketNEWS Mon 15 Feb, 2021

Posted in: #FinanceIndia #StockMarketNEWS

CAIT to release white paper on GST regime #FinanceIndia #StockMarketNEWS
CAIT to release white paper on GST regime New Delhi, Feb 15 (KNN) The Confederation of All India Traders (CAIT) has said that it will soon release a white paper on the state of Goods and Services Tax (GST) regime in the country.

The traders body said that the call of “Bharat Vyapar Bandh” (nationwide traders strike) on against “draconian and arbitrary provisions” of GST has received tremendous response across the country not only from the trade associations but the bodies of tax practitioners, chartered accountants, MSME and other verticals of domestic trade have also come out in support of the call for a nationwide strike.

“It shows the high level of gross resentment in people of the country against the current state of GST which is called as ‘good and simple tax’, much away from the ground reality,” it said.

The statement said that traders across the country are deeply agitated over recent amendments made in the GST rules which give arbitrary and unfettered powers to the GST officials.

“Even after four years of implementation, the GST portal has suffered with various glitches and is an unstable tax portal but instead of penalising the operators of GST portal, the traders are penalised even for a mistake which has not been committed by them,” CAIT said.

Further, since the introduction of GST, more than 900 changes have been introduced from time to time due to which the GST taxation system has become extremely complicated and has lost its sanctity, it added.

Stock Market News & Best Intraday tips & Stocks near support

Report