Traders petition PM for new GST regime

Tribune News Service

New Delhi, February 22

After a pro-government traders’ body, the Confederation of All India Traders (CAIT), threatened a nation-wide strike on February 26, another such organisation – the Federation of All India Vyapar Mandal (FAIVM) – has expressed disappointment with the current GST regime and urged the government to bring a new GST law.

The FAIVM submitted a memorandum to PM Narendra Modi through hundreds of district magistrates demanding a new version of the GST as the existing one with about 1,000 changes in the last 42 months has become too complicated, said an association statement.

The FAIVM said it had enthusiastically welcomed the new tax system and expected it to be simplistic and liberal which will also check tax evasion. But the current GST system has become a “major problem for small traders” because compliance becomes complicated, leading to unintentional mistakes.

The new version of GST should be written in such a way that it can prevent tax evasion, the government gets more revenue and the trader segment should be encouraged to discharge their tax liability with minimal compliance, said FAIVM national president Jayendra Tanna and national general secretary VK Bansal.