Due to the excess of returns and compliance in the current tax system, traders are facing a lot of problems. In the meeting of the office-bearers of the trade organization affiliated to the chamber organised by Nag Vidarbha Chamber of Commerce, a leading and top organization of 13 lakh traders of Vidarbha, the government was given GST. It was decided to give a report to simplify. On On 16th February 2021, the Chairman of the Chamber Ashwin Mehadia, along with the Secretary Ramavatar Totla, protesting against the present tax system, submitted a report to Ravindraji Khanjachi, Deputy Collector, Nagpur.
Chairman Shri Ashwin Mehadia, while demanding simplification in the present tax system from the government through the report, said that GST due to increasing returns and compliance day by day, the basic objective of the government of ‘one country-one tax’ and good and simple tax is not being fulfilled. At the same time, most of the time of the trader is being spent in filing returns and making compliments and in case of slight mistake, part of the dividend of the trader is being spent in paying penalty and interest.
It is well known that the Covid-19 pandemic has adversely affected trade in India as well as in the entire world. After nearly 9 months of lockdown in India, efforts are being made by the business community to get the economy back on track by conducting economic activities following government guidelines. In this case, notification no. Notification No. 94/2020 and January 2021. Issued 01/2021 increased the hassle of the taxpayer in filing the return. Under the above notification, the trader cannot claim ITC due to an error made by the supplier, which has already been paid by the trader at the time of purchase. Not only this, the buyer has to pay the penalty and interest for the mistake made by the supplier in filing the return, which is not fair.
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