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The Confederation of All India Traders has raised strong objections against the new GST provisions, especially the introduction of Section 86B which they feel are detrimental to trade. Thus, they have written a representation letter to the Union and Finance Minister Smt. Nirmala Sitharaman requestin
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FAQ :
CAT has raised strong objections against new GST provisions, primarily Section 86B, which they believe is detrimental to trade.
Section 86B mandates the deposit of 1% of tax where the monthly turnover exceeds Rs. 50 lakh.
CAT believes Section 86B imposes a counter-productive step, adding burdens of compliance and financial obligation to traders, especially when internal trade is already disturbed due to COVID-19.
CAT has requested the Union and Finance Minister to immediately roll back or defer the implementation of Section 86B and has also asked for an extension for filing GST and Income Tax returns.
CAT suggests that any amendment in a tax law should be implemented from the beginning of the fiscal year, rather than during the middle of the year.
Yes, CAT agrees that strict action must be taken against alleged tax evaders, but they believe harsh provisions should not be applied to everyone due to the actions of a few, as it goes against the principle of natural justice.
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