CAIT suggests measures to broaden GST

NEW DELHI: Traders’ body CAIT on Wednesday suggested a host of measures, like technical audits and waiver of late fees, to broaden the GST base and make the taxation system simple. The Confederation of All India Traders (CAIT) has made the suggestions to Finance Minister Nirmala Sitharaman as the Goods and Services Tax (GST) regime completes three years of implementation.

“The debut of GST in 2017 was a big reform. It was introduced/ implemented with an aim of one nation one tax and with a view of removing the cascading effect of taxes and providing seamless input tax credit. Government of all states are working hand in hand with each other and with the Centre in order to make this law more assessee friendly,” said CAIT in a communication to Sitharaman. The traders’ body congratulated the government on completion of three years of GST implementation and also appreciated it for bringing gradual changes as and when suggested by the trade.

“We are of the view that the country requires two more years to make GST a stable taxation system provided the GST Council takes stakeholders into confidence and draw ways and means to simplify the system, remove technical glitches, avoid penal actions except on wilful avoidance of tax and make attempts to encourage more and more people to embrace GST taxation system,” it said.

It also stressed that “the fear of GST cobweb is needed to be removed” as it suggested measures to broaden the tax base.