Traders body CAIT calls for nationwide strike on February 26 on GST issues

The Confederation of All India Traders (CAIT) on Thursday said that Goods and Services Return (GST) has become the most complicated legislation in India and so they have decided to call for a nationwide strike on GST issues on February 26.


All India Transport welfare association, the premier transport body of the country, has also called for a 'Chakka Jam' on February 26.


According to CAIT, it is impossible to fill GST return form without the services of a tax consultant.


In a release earlier, CAIT had said that the GST lacks product innovations owing to the complicated tax structure. There is no consultative mechanism with the traders pertaining to GST law and rules both at centre and the state governments level, it added.


In another development, CAIT has demanded a ban on Amazon after Reuters reported the e-tailer's selective and preferential treatment to select sellers on its platform for years. According to the report, Amazon used these select sellers to circumvent India’s foreign direct investment regulations.


According to the report, Amazon has played a “cat-and-mouse” game with India’s government. It continuously adjusted its corporate structure to adapt to India’s restrictions aimed at protecting small traders.


Source : https://www.cnbctv18.com/india/traders-body-cait-calls-for-nationwide-strike-on-february-26-on-gst-issues-8348901.htm

Comments

Post a Comment

Popular posts from this blog

Centre appeals against ruling on levy of GST on maintenance charges to resident welfare associations

Image
  The Centre has preferred a writ appeal before the Madras High Court against a single judge's order that flat or villa owners paying more than ₹7,500 a month towards maintenance charges to their residents’ welfare associations must pay Goods and Services Tax (GST) at the rate of 18% only for the amount exceeding ₹7,500 and not for the entire monthly contribution. Justices T.S. Sivagnanam and Sathi Kumar Sukumara Kurup on Wednesday allowed an application filed by the Centre to dispense with production of a certified copy of the judgment passed by Justice Anita Sumanth recently and directed the Registry to list the appeal for admission in the usual course. Justice Sumanth had in July this year quashed an order passed by the Authority for Advance Ruling (AAR) on June 21, 2019 as well as a consequent circular issued by the Department of Revenue under the Union Finance Ministry on July 22, 2019 since both of them had insisted upon collecting GST for entire monthly contribution. The jud
Read more

Seven key things to know before filing income tax return (ITR) for FY21

Image
  The last date to file income tax return for the financial year 2020-21 has been extended to September 30, 2021. Although there is more than two months left for the deadline to end, it is always recommended to complete the task as soon as possible and not to wait for the last minute. Worth mentioning here is that the income tax department last month launched a new e-filing portal (www.incometax.gov.in) to speed up the processing of tax returns. The I-T department will soon launch a mobile application, having all the features of the new portal. This year taxpayers have to take care of the following changes in the ITR filing process. 1) A new utility named JSON has been launched for filing tax return forms for FY21. At present, only three forms, ITR 1, 2 and 4 have been released. These new forms will import pre-fill data such as personal details, salary income, dividend income, interest income, capital gains and all the information available in Form 26AS. 2) Taxpayers will have the opti
Read more

Income Tax Return or ITR for FY20 Can Be Filed Till May 31

Image
  n the wake of severe Covid-19 pandemic, the Central Board of Direct Taxes (CBDT) has decided to extend timelines of various tax compliance dates on Saturday. “In view of the adverse circumstances arising due to the severe Covid-19 pandemic and also in view of the several requests received from taxpayers, tax consultants & other stakeholders from across the country, requesting that various compliance dates may be relaxed, the Government has extended certain timelines today," the ministry of finance said in a statement. The move is aimed at mitigating “the difficulties being faced by various stakeholders," it further added. The “relaxations are the latest among the recent initiatives taken by the government to ease compliances to be made by the taxpayers with the aim to grant respite during these difficult times," it mentioned in a notification. “It’s a welcome move to extend the timeline of various tax compliances as the country is struggling with severe second wave
Read more