After the lockdown restrictions in view of the pandemic, the Confederation of All India Traders(CAIT) has sent two separate communications to the Union Finance Minister Nirmala Sitharaman urging her to postpone various compliances under GST and income-tax to be made by the business community for next three months. CAIT national president BC Bhartia and general secretary Praveen Khandelwal informed that CAIT has urged the minister to postpone 11 types of GST compliances in the month of April itself.
Non-complaince of these stipulations will attract huge penalties on traders across the country. Similarly, the CAIT has also sent another communication to minister and listed out 15 types of compliances to be made in the month of April itself and non-compliance of these provisions will further levy interest and penalty on the traders. In these tough times when all the state governments are taking strict precautionary measures in order to restrict the spread of Covid-19 in their states. Therefore, the late compliances on part of trade being not deliberate, the late fee and penalties should be waived off permanently till the situation gets normal.
