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Why are traders upset with the new provision of GST?

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Why are traders upset with the new provision of GST?

GST Notification

Why are traders upset with the new provision of GST?

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The government on behalf of the GST (Goods and repair Tax) released over the past week, a notification ( GST Notification ). The provisions of a businessman are angry. The Federation of All India Vyapar Mandal during a letter to Union minister of finance Nirmala Sitharaman has requested the withdrawal of those provisional governments on behalf of the GST (Goods and repair Tax) released over the past week, a notification ( GST Notification ). The provisions of a businessman are angry. The Federation of All India Vyapar Mandal during a letter to Union minister of finance Nirmala Sitharaman has requested the withdrawal of those provisions. He says that this may increase the crisis of traders already facing cash.

What is in these provisions
Under these provisions, the limit of 99% of the input decrease (ITC) available to the trader selling quite Rs 50 lakhs during a month has been fixed. Now the credit claim available in GSTR 2B has been reduced from 10% to five on non-submission of the invoice from the supplier. Alongside this, the validity period of the e-way bill has been reduced under CGST rules. Within the first day, it had been valid for 100 kilometres, which has now been increased to 200 kilometres. This has reduced the validity period of the e-bill. Earlier, if the products were to be sent 600 kilometres away, then the GST e-bill was valid for 6 days. Now it’s valid for 3 days only. In such a situation, if there’s a sit-in demonstration, the way is diverted or jammed, the e-bill of business will endways the way.

Why are traders upset with the new provision of GST?

  • Traders are upset with the provisions of a notification issued by the Central Government regarding GST last week.
  • In a letter to the Union minister of finance Nirmala Sitharaman, the Federation of All India Trade Chambers has requested to withdraw these provisions.
  • They say that this may increase further crisis for traders already facing a cash

Will open today, the difficulties will increase
General Secretary of the Federation V.K. Bansal says that these provisions will increase the difficulties of traders already facing a cash shortage. He says that during this era of a worldwide epidemic, small and medium traders are already facing big losses and it’s increasingly difficult for many businessmen to stay in business. Despite this, the GST Council is making things worse for honest traders by making the principles more stringent.

No relief was announced for traders
Bansal said that after the lockdown imposed to beat the corona, the govt had announced a relief package for several sectors. However, no steps have yet been taken by the govt to supply relief to retailers and traders. Prime Minister Narendra Modi also praised the efforts made by traders to still supply essential commodities during the lockdown, but received nothing as government incentives.

Amnesty scheme
The federation has also demanded an amnesty scheme like ‘Dispute to Faith’ from the govt to waive the penalty imposed for the delay in submission of Form 3B from April to December this year. The federation has expressed hope that the govt will soon give relief to traders by withdrawing the provisions made within the notification issued on 22 December. Failure to try to do so could create an employment crisis for traders and therefore the millions related to them. A replica of this letter has also been sent to the Prime Minister’s Office, key ministries of the Central Government, and members of the GST Council.
He says that this may increase the crisis of traders already facing cash.

What is in these provisions
Under these provisions, the limit of 99% of the input decrease (ITC) available to the trader selling quite Rs 50 lakhs during a month has been fixed. Now the credit claim available in GSTR 2B has been reduced from 10% to five on non-submission of the invoice from the supplier. alongside this, the validity period of the e-way bill has been reduced under CGST rules. Within the first day, it had been valid for 100 kilometres, which has now been increased to 200 kilometres. This has reduced the validity period of the e-bill. Earlier, if the products were to be sent 600 kilometres away, then the GST e-bill was valid for 6 days. Now it’s valid for 3 days only. In such a situation, if there’s a sit-in demonstration, the way is diverted or jammed, the e-bill of business will endways the way.

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