It has been almost 5 years when GST was implemented. The trade fraternity welcomed this tax with this in mind that it will be a Good and Simple Tax. The tax as implemented was definitely a Good and Simple Tax but gradually it has turned to be a nightmare for the businessmen because of the fact of inefficiency of the portal, frequent changes in the GST portal and GST Rules which has made GST quite complicated- said the Confederation of All India Traders ( CAI). The CAIT has urged Union Finance Minister Smt Nirmala Sitharaman to hold a total review of GST taxation system in consultation with stakeholders and make it a law which may promote ease of doing business by complying GST law and rules. Every month increasing figures of GST collection can not be said to be a successful GST regime as GST collection per month is a gross value out of which A large share of input tax need to be deducted- said CAIT
CAIT National President Mr B C Bhartia & Secretary General Mr Praveen Khandelwal said that the Act is amended as per the requirement of GST portal. Infact portal should have been made as per the Act. This has caused and is still causing undue hardship to the business men. The group of intellect made 1100 amendments in the GST Act in these five years and it is expected from the businessmen to be aware about every change and update his knowledge, software he is using and either train his employees or employ new trained employees. It is next to impossible for a person to cope up with the speed the amendments have been made in GST. Moreover, making the businessmen suffer for the inefficiency of the department by making such law that if the supplier doesn’t pay tax the buyer will not get ITC , completely defeats the very concept of GST. The journey of GST for businessmen was like a roller coaster ride. Its high time that the representatives of trade are made part of GST Council and laws and procedures are made after consulting the trade. A total revamp of GST in respect of rates and compliances is required.
Mr Bhartia & Mr Khandelwal further said that among Asian countries, India has the highest standard GST rate. On the planet, it is second only to Chile. The non-zero rated products ( 3, 5, 12, 18 and 28 percent) combined with the remaining zero-rated products are a sharp deviation from the one Nation one Tax dream. Petroleum products, power, and real estate are still outside the GST ambit which brings anomalies & disparities in GST to a large extent.
Mr Bhartia & Mr Khandelwal said that GST return filing issues and multiple forms, issues related to Form GSTR-2B, mandatory compliance of Rule 36(4), Issues of form GSTR 3 B, Issues in Form TRAN 1, additional operational cost on small businesses in the shape of keeping an accountant & availing of CA services and cost towards affective & timely compliance, mandatory GST registration for selling goods on e-commerce, blockage of capital due to reverse charge & TCS provisions, mismatch between initial and final return, crumbled GST portal even after more than 4 years are some of the issues which bring tears in the eyes of traders of the Country. There is an urgent need to re-look the GST taxation system to make it a stable, good and simple tax in its real sense. The complicated GST tax structure coupled with zero accountability of officials is the root cause for creating a major roadblock in widening the tax base of GST.