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The Confederation of All India Traders, on 7th May 2021, sent a letter to FM Nirmala Sitharamandemanding an extension of dates for GST Income Tax compliances till 31st August a six month moratorium on payment of Bank EMI, interest and loans etc.in view of the Second Waveof the COVID-19 pandemic which has hit Indian traders hard. Read the official representation letter below: Ref. No.: 3207/ 1 /50 Smt. Nirmala Sitharaman Honble Minister for Finance Government of India New Delhi Dear
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FAQ :
The Confederation of All India Traders (CAIT) is requesting the extension.
CAIT has requested that the deadlines be extended until August 31st, 2021.
The request is due to the severe impact of the second wave of the COVID-19 pandemic on Indian traders, leading to business losses and financial strain.
CAIT is also asking for a six-month moratorium on the payment of bank EMIs, interest, and loans.
The letter estimates a business loss of about 7 lakh crore in the non-corporate sector over the past 40 days.
CAIT suggests that challans be treated as documents of payment instead of Form GSTR-3B and requests deferment of certain procedural changes introduced in notifications from January 1st, 2021, and December 22nd, 2020, until stakeholders are consulted.
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