New Delhi : More than 150 prominent trade leaders of 24 States of the Country at a Traders Conference held on 13th & 14th August at Jagannathpuri in Odisha in a unanimous voice has urged the political parties not to play political innings on Goods & Services Tax and ensure smooth passage of such big reform in Parliament to pave way for its timely implementation in the Country.
The Conference held by the Confederation of All India Traders (CAIT) has also urged the Prime Minister to convene a special session of Parliament soon to pass the GST Bill.
The Conference in a resolution adopted unanimously said that GST has much value to the trading community since trading community is deeply webbed into plethora of tax laws and regulations of multiple Tax Authorities.
GST is integration of various Central and State level taxes, the trading community hopes to get a simplified cohesive business environment which may lead to ease in doing business in the Country and hopes to abolish colonial working of tax administration system.
Further, it is also hoped that with implementation of GST, the trading community will also get rid from multiple taxes and multiple Authorities thereby reducing the load of much paper compliance.
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.
B C Bhartia, National President & Praveen Khandelwal, Secretary General of CAIT said that traders have their our own concerns about proposed GST but stalling of passage of GST Bill in Parliament, is depriving us from the opportunity of being heard.
After passing of the Bill in Parliament, the process of separate legislation for Central GST(CGST), Integrated GST (IGST) and State GST (SGST) will began which is major concern for the trade & industry and which will give an opportunity to the stakeholders to submit their concerns.
The passing of GST Bill in Parliament will pave the way for discussion on procedural modalities of GST and that is why the CAIT is appealing the political parties to pass the Bill.