Traders body CAIT today urged Congress President Sonia Gandhi and other Opposition leaders to cooperate in the smooth passage of constitution amendment bill on Goods and Services Tax (GST) in Parliament to pave way for its timely implementation.
Expressing concern over the stalemate on the GST Bill in Rajya Sabha, the Confederation of All India Traders (CAIT) has “sent a communication to leaders of major opposition parties including Sonia Gandhi”.
CAIT has urged “them to cooperate and ensure smooth passage of GST in Parliament to pave way for its timely implementation in the country”.
The roadblocks for GST are giving dismal picture of one of the most important tax reforms in the country, it said in a statement.
GST has much value to the trading community since it is deeply webbed into plethora of tax laws and regulations of multiple tax authorities, it said.
As GST is integration of various central and state-level taxes, the trading community hopes to get a simplified business environment, it added.
The implementation would help in improving ease of doing business and abolish colonial working of tax administration system.
Besides, the trading community will get rid from multiple taxes and multiple authorities thereby reducing the load of much paper compliance, the statement said.
“However, the political scoring has vitiated the reform to a great extent. It is the high time when a consensus must be evolved among the political parties to ensure safe and smooth passage of this economic reform,” CAIT said.
The GST Bill is stuck due to political logjam in the Rajya Sabha where the ruling NDA does not have the majority.
Billed as the biggest indirect tax reform since 1947 which is expected to boost manufacturing, GST will replace central taxes like excise duty and service tax and state levies such as sales, value-added, entertainment and purchase taxes. All entry taxes like octroi will also be subsumed under GST.