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Defer GST rate hike on textiles, footwear: traders to FM
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SME Times News Bureau | 27 Dec, 2021
The Confederation of All India Traders (CAIT) has urged Finance Minister
Nirmala Sitharaman to defer the implementation of GST rate hike on
textiles and footwear.
The proposal is to increase the rate of tax from 5 per cent to 12 per cent on textiles and footwear.
In
a letter to the minister, CAIT termed the move as 'illogical' and
'beyond the canon of GST tax structure', particularly at a time when the
domestic trade in the country is on the verge of recovery from the
colossal damage caused due to the last two spells of Covid-19.
"It
is noteworthy to mention that the GST collection across the country is
increasing every month and as such any increase in tax rates without
consulting the stakeholders will run contrary to the 'ease of doing
business' call of Prime Minister Narendra Modi," the letter read.
"Therefore,
we shall request you to defer the implementation of tax rate hike for
certain period and meanwhile constitute a task force under the
chairmanship of the Chairman, Central Board of Indirect Taxes,
comprising representatives of trade and senior officials of the
government to discuss the issue at length and arrive at a consensus," it
added.
According to CAIT, there was no tax on textile or fabrics for a number of years.
"This
increase in tax rate will not only hamper the domestic trade, but will
also affect the exports adversely. Already the textile industry is not
at a competent status with countries like Vietnam, Indonesia, Bangladesh
and China. On the one hand the government talks about 'Make in India'
and 'Aatmanirbhar Bharat', while on the other hand levy such high taxes
creating an atmosphere of uncertainty and gloom."
The letter also asked for an extension of income tax return filing date.
"The
new portal of income tax is suffering from various glitches and filing
of one return is taking more than a couple of hours. Further, the staff
of the tax practitioners are to be trained to understand the new portal
and its utilities.
"Not many professionals are well versed with
the frequent changes being made on the portal, very less time has been
provided after the introduction of the new portal, frequent changes in
various 'Forms' and their utility is resulting in duplication of work,
due to which a lot of time gets wasted. Many technical glitches are
being faced on the portal due to which a lot of time gets wasted.
Overlapping of dates for various compliances like due date of filing of
income tax returns, GSTR 9, GSTR-9C are another complex issue," CAIT
said.
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