With less than a week to go for the new indirect tax regime to kick in, small businesses are trying to understand the modalities of the goods and services tax (GST) as the compliance burden for them is set to significantly rise. Making a relaxation for small businesses, rules allow those with an …
Tag: Confederation of All India Traders (CAIT)
Readying for GST: A peek inside frantic preparations for the massive revamp
India will adopt its most comprehensive indirect tax reform—the goods and services tax (GST)—on July 1. As the deadline draws closer, there is a mad rush to get ready for a revamp which most find too complex and tedious. From the government to small businesses, all stakeholders are anxious for a …
Small traders want penal norms delayed
With 60 per cent of the country’s small traders yet to be computerised, wholesalers and traders are demanding amnesty from penal provisions of GST for atleast nine months. A large number of small traders are still not educated about GST and there are expected to be teething problem for them in th…
Traders demand a trial period of nine months under GST
Traders body CAIT has demanded that the first nine months of GST implementation in the current fiscal should be treated as a trial period and no penal action should be levied against traders except for habitual offenders. The Confederation of All India Traders (CAIT) has asked Finance Minister Ar…
GST: SMEs ने वित्त मंत्री से जीएसटी के लागू होने की समय-सीमा बढ़ाने की मांग की
रिटेल एसएमई व्यवसायों ने नए बिल जीएसटी के लागू होने के सेट अप के अनुपालन में शामिल जटिलताओं के कारण 1 जुलाई से लागू होने वाले वस्तु एवं सेवा कर (जीएसटी) को 2 महीने तक के लिए स्थगित करने का एक मामला बनाया है। मैक्स स्टैंडर्ड रिटेल प्राइवेट, एसआरएस ग्रुप और वी-मार्ट सहित कई खुदरा […]
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SMEs approach Finance Minister for extension of GST launch
New Delhi: Retail SME businesses have built a case for deferment of implementation of GST by two months to September 1 on account of complexities involved to comply with the new set-up. A group of retail businesses, including Max Standard Retail Pvt, SRS Group and Vmart, has written a letter to F…
With India Inc unclear about certain key aspects of GST, postponing it makes more sense
The goods and services tax (GST) has received unprecedented support from all quarters. Government believes it will lead to revenue buoyancy, industry expects a simpler and more competitive tax regime, and the common man expects reduction in prices, once GST is implemented. The speed at which GoI …
‘Alliance for Digital Bharat’ formed to help SMEs digitize
In a bid to develop conducive atmosphere for digitalisation in non-corporate sector, prominent stakeholders of economy have come forward to form the ‘Alliance for Digital Bharat”. The Alliance includes national organisations of traders, transporters, consumers, farmers, hawkers, SMEs, self-…
Mastercard to tap MSME, small traders on digital payments
Global time payment processing firm MasterCard today said micro, small and medium enterprises need to go for online payments which currently account for just four per cent of total transactions in the country. “Of the total transactions made in the country, 96 per cent are done through cash trans…