BHOPAL : The union government’s decision to roll out GST has left created flutter in the business community. There is a section of society which is quite opposed to the new tax system as they find its structure complex and a confusing.
City’s traders find the system not conducive to their nature of doing business. They are apprehensive about the ways to pay taxes once the new system comes into being.
Suneel Jain, vice president of the chamber of commerce Bhopal, says “At present we file single return quarterly in every three months. But under GST, we will have to file three returns in every month and an annual return. So we will have to file total thirty seven returns in a year which is quite inconvenient for us. Above all, there was no issue even if our return was filed late but under new system there will be provision for rating system in which we will be rated based on the delays. There are other issues as well in the new tax system which is causing apprehensions among us.”
Sandeep Godha, executive director of the chamber of commerce echoes similar views saying that the traders have always been the biggest tax payers in any state. Why the government is not paying attention to the problems they will have to face in GST. Citing the provision of E-way bill which is a mandatory provision in the new structure he said, “Now we will have to put the details of out transactions online. How come an illiterate entrepreneur put everything on the web. This is like imposing inspector raj on us.” Even slightest mistake in this complex system can land us in legal trouble, he added.
Another trader Krishna Kumar Bangard said, “The traders’ community does not have any issues with paying taxes which we are paying happily. We only want simplification of the process as the complex structure of the system will land us in trouble owing to our less acquaintance wit it.
However the chartered accountants who are practicing in city see it in a different way.
CA S Krishnan says that the announcement of GST has only left rumor mills churning but there is no such issue. He said that the new system is being targeted only because people are less informed about it as it is new. “We should not fall prey to rumors as there will not be any problem with it,” said Krishnan.
Malaiya discusses traders’ problem with Jaitley
BHOPAL : Finance and commercial tax minister Jayant Malaiya met Union finance minister and GST Council chairman Arun Jaitley at New Delhi. Malaiya discussed the difficulties being faced by traders related to implementation of GST system with Jaitley.
Malaiya gave information mainly about legal problems. He said that there should more discount on the central excise duty on the closing stock of traders. Malaiya stressed on the need to simplify the description forms.
The minister said that the tax rate of various commodities should be reduced. He urged to reduce the tax rate on desi ghee, butter, dry fruits, tiles, branded grains and pulses, cloth, detergent powder, cake, dona-pattal, toffee, agricultural pipes manufactured from reprocessed and waste plastic, biscuits etc. Malaiya urged to fix uniform tax rate on mobiles and computers. He stressed on the need to reduce the rate of 28 per cent tax on room rent of Rs 5,000 in hotels in the interest of travel and tourism.