GST Bill: Traders to suggest amendments

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Raipur: Traders bodies in the state have suggested amendments to the model draft of Goods and Services Tax (GST) 2016 taking into consideration suggestions of various associations. Chhattisgarh Chamber of Commerce and Industry invited delegates of Confederation of All India Traders (CAIT) from New Delhi for discussions on the issue. Talking to TOI, CCI president Arun Parwani said, “Traders of Chhattisgarh welcomes the GST Bill but to make it more simplified and convenient for small traders, CCI representatives have deliberated upon certain proposals that if incorporated in the GST Bill would help the small traders in particular. The proposals would be conveyed by the CAIT representatives, to the GST Council meeting, which is to be chaired by Union finance minister Arun Jaitley in New Delhi on August 30.”

 Trader’s representative said firstly, under new GST regime there is no clarity on stock management for the remaining goods and rates. Will traders get ‘input credit’ on that remaining stock and if not, then remaining stock will get costlier and would turn out to be a monetary loss for traders.

Secondly, traders said, provision of paying tax each time a manufacturer transfers the goods to the buyer in another state is inconvenient. CAIT’s general secretary Praveen Khandelwal said, “Under GST provision a trader must easily get Input Credit, as under GST provision in the chain of trading if one trader fails to file incorrect returns in GST then the entire chain of traders will fail to receive the benefit of input credit.” Traders were not convinced to get or reissue of another GST numbers for extending their trade in other states as they believe that GST should maintain the spirit of ‘one tax one country.’ As the government should allow to operate the business under one GST code in entire country.

 GST is fully online tax filing system, but only about 30% businessmen use online trading and filing tax returns. For a layman trader, who is not net savvy he could initially face difficulty in filing the tax returns online or might commit mistake for which the new rule of punishment of imprisonment and penalty is harsh. As under GST the columns of sales and purchase have been replaced by new terminology-supply, this has confused traders on how to determine the entry of ‘origin of sale’ under GST. The composition tax exemption scheme should be imposed on inter-state trading instead within the state.
Source: http://timesofindia.indiatimes.com/city/raipur/GST-Bill-Traders-to-suggest-amendments/articleshow/53924986.cms

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