CAIT releases White Paper on GST, asks FM to lower rates
Traders body CAIT on Thursday urged the government to lower GST rates on various products, including auto parts and aluminium utensils.
 
It also suggested a review of items placed under different tax slabs under Goods and Services Tax (GST) as many of them are overlapping.
 
"Various items like auto parts, aluminium utensils etc. are not of luxurious nature (and) should be taken out from 28 per cent tax slab...," CAIT said in a statement.
 
The trade body submitted a White Paper on GST to Finance Minister Nirmala Sitharaman, in which it emphasized the need to streamline the GST slabs and ensure that as a matter of policy, the tax rate on a raw material is not more than the tax rate for the finished goods. 
 
Presenting the paper, CAIT Secretary General Praveen Khandelwal urged the Minister to simplify Form GSTR 9 and 9C as it demands various information which were not prescribed earlier and hence traders are unable to comply with the same.
 
He also said that as per original announcement, the non-banking finance companies and micro finance institutions should be roped into the Mudra scheme to lend to the ultimate beneficiary and banks should be asked to lend finance to NBFCs and MFIs.
 
While welcoming waiving-off of bank charges, Khandelwal suggested that in order to encourage adoption and acceptance of digital payments, the bank charges levied on card payments should be subsidised by the government directly to banks and neither the traders and nor the consumers should be charged any bank charges on card transactions.
 
The traders' body has also urged the Finance Minister to form GST Lokpal in each state and at the Centre so that a forum is provided to all traders to redress their concerns.
 
Welcoming the suggestion, Sitharaman assured the delegation that she will look into the issues raised by CAIT. The intention of the Government is certainly to simplify the tax procedure so that more and more people can easily comply with it, she said while urging traders to streamline their existing business format and comply with the law.
 
In its White Paper on GST, the CAIT has raised many issues including advance ruling, reverse charge mechanism, rectification of GST returns, that the liability of paying GST should be devolved on the seller only and no action should be taken against the buyer, clarification of jurisdiction of CGST & SGST, HSN code issues, abolition of Form ITC-04, and so on.
 
The CAIT has also urged a reduction in the tax rate from the current slab to the appropriate lower slab for items like hardware, mobile covers, food items, dry fruit, ice cream, food grains, malt/cereal-based health food drinks, paints, marble, used vehicles, two-wheelers, agricultural equipment, roasted chana, etc.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 
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    SC: High Courts should know arrest possible for GST evasion
    The Supreme Court on Wednesday said that High Courts across the country should keep in mind that a person can be arrested for evasion of the Goods and Services Tax (GST) by the competent authority.
     
    The apex court had earlier upheld a Telangana High Court verdict which declined to entertain a plea against the provision of arrest.
     
    A vacation bench headed by Chief Justice Ranjan Gogoi observed that High Courts have not taken a consistent view on granting anticipatory bail to individuals accused for GST evasion.
     
    The court also said that the matter be placed before a three-judge bench to decide on the scope of law regarding the power of arrest. 
     
    The court issued notice on a petition by the Centre seeking clarification on the powers of concerned officials under the GST Act to arrest an individual without registering an FIR.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    SC dismisses relief on arrest in cases on GST evasion
    In a big relief for the Government, the Supreme Court on Monday dismissed a bunch of petitions, challenging power to arrest in cases under GST evasion.
     
    Matters involved allegations of evading GST by circular trading and claiming input tax credit (ITC) through fake invoices.
     
    The petitioners had moved the apex court challenging the Telangana High Court verdict that a person can be arrested by the concerned authority in cases of Goods and Service Tax (GST) evasion.
     
    The petitions were listed for hearing before a vacation bench comprising the Chief Justice Ranjan Gogoi and Justice Aniruddha Bose. The court after hearing the initial arguments said it is not willing to interfere with the April 18 judgement of the high court. 
     
    "Upon perusing the relevant material, we are not inclined to interfere. The special leave petition is accordingly dismissed. Pending interlocutory applications, if any, shall stand disposed of," the court said in its order.
     
    The Telangana High Court in its order on April 18, said that it is not willing to grant any relief against arrest to the petitioners in light of summons issued by Superintendent (anti-evasion) of the Hyderabad GST Commissionerate under the Central Goods and Services Tax Act, 2017. 
     
    The court did not entertain their plea challenging the summons. 
     
    The government informed the court that petitioners have allegedly incorporated various firms in partnership, and then on the basis of certain invoices, claimed input tax credit allegedly in the absence of any actual physical receipt depicting the nature of goods. 
     
    It was alleged that Rs 224.05 crore fraudulent input tax credit has been claimed by these companies. The batch of petitions was filed by some private companies, their top officials and others.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    COMMENTS

    JAYENDRA PANDYA

    3 months ago

    First, let there be special courts to deal with high value frauds. Second, such cases should be disposed off within shortest possible time; not more than two years. Third, it should be ensured that they do not escape. Fourth, if crime is proved, the penalty should be imprisonment till the value is recovered with interest and penalty.

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