Excelsior Correspondent
JAMMU, Feb 22: Disappointed with the day-to-day changes in GST, tough compliance in GST and increasing punitive action, the leading trade organization Federation of All India Vyapar Mandal (FAIVM) has urged the Government of India to replace the existing GST with a new GST law.
In Jammu, Federation of all India Vyapar Mandal Jammu and Kashmir president Sanjay Bansal along with other office bearers presented a memorandum to ADDC Jammu in his office for Prime Minister Narendra Modi. Similar memoranda were submitted to Prime Minister through more than 400 District Magistrates/Dy Commissioners across the nation and demanded that the Government should bring a new version by making structural changes in GST for self-reliant India.
In the memorandum FAIVM mentioned that as the biggest tax reform of the century, in July 2017 when GST was introduced, the country enthusiastically welcomed the new tax system and expected that it would be simplistic and liberal, the tax evasion would be checked and the input tax credit would be received without any hindrance, etc.
The current GST system has become a major problem for small traders. Tax compliance has become so complicated that the businessman has lost their confidence in the compliance of GST and due to an unintentional fear, commits some mistake. It is a well-known principle that tax compliance is enhanced simultaneously tax collection is always higher under a simple tax regime.
Jayendra Tanna, National president, FAIVM said that in the last 42 months, approximately 1000 changes have been made in the current GST. Incidents of tax evasion and fake input tax credit are also at their peak. Day by day, the department is engaged in the prevention of this type of forgery. Due to this dishonesty, the honest taxpayer is also being punished because the businessman will not get input tax credit until the seller submits his return. due to the seller’s mistake, an honest businessman who had already paid his entire GST to a seller will be punished by depositing GST once again.
VK Bansal, National general secretary, FAIVM said it has become necessary to reassess and evaluate the present GST provisions that were amended in the past 42 months and have become the imperative need for an updated version of GST.
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