Treat first 9 months under new tax regime as trial period: CAIT
NEW DELHI: The Confederation of All India Traders (CAIT) on Friday suggested the first nine months of GST, from its rollout date of July 1, should be treated as a “trial period” and no punitive action taken against businesses for “procedural mistakes” to allow them to get familiarised with the new regime.
Commenting on the outcome of the GST Council meeting, CAIT secretary general Praveen Khandelwal said that classification of goods under different tax slabs of GST are “by and large” fitted in the correct basket and it is expected that goods will become cheaper under the new indirect tax regime.
“However, on the other side, several items which have been placed under higher category of tax rate will disturb the pricing structure and pinch the common man,” said B C Bhartia, president of CAIT
Commenting on the outcome of the GST Council meeting, CAIT secretary general Praveen Khandelwal said that classification of goods under different tax slabs of GST are “by and large” fitted in the correct basket and it is expected that goods will become cheaper under the new indirect tax regime.
“However, on the other side, several items which have been placed under higher category of tax rate will disturb the pricing structure and pinch the common man,” said B C Bhartia, president of CAIT