PUNE: Even after two years of implementation of the Goods and Service Tax (GST), the trader community continues to face challenges in compliance.
The ongoing recession and e-commerce websites are hitting the traders badly.
The traders expect the new government to promote local and small business and form a monitoring body for e-commerce sites.
Fatehchand Ranka, President of the Pune Saraf Association and Director of Ranka Jewellers, said, “The tax burden on the business community has not reduced with the implementation of GST. There has been no revision in GST rules and the rules are still complicated causing the burden of appointing CAs for small businesses. The penalties levied are also too high which are threatening the community. Also, there is hardly any currency flow in the market which has resulted in recession.”
He further said, “The restrictions on cash transaction are adversely affecting the business. All the rules should be made business-friendly so that the compliance becomes easy. The government should focus on developing infrastructure to promote local and small businesses and the cash flow in the economy should be increased to revive the economy.”
The traders also demand a monitoring body for e-commerce websites which are hampering the wholesale and retail businesses.
Kamlesh Shah, President of Poona Wholesale General Merchant Association said, “These e-commerce websites were damaging the wholesale and retail business and there has been no regulation on them. There used to be a chain of distributors, wholesalers and retailers which has been broken by these e-commerce websites hitting the wholesalers and retailers badly.”
Ajit Setiya, West Zone Coordinator of Confederation of All India Traders (CAIT) said, “The complicated GST rules and stiff penalties are making it more difficult to run the businesses. However, it is a central issue, but the State Government can always suggest measures to simplify it. Therefore, we hope that the new government will do something about this.”
“The global recession and some of the government policies have taken a toll on the economy. There is an urgent requirement to bring liquidity in the market by bringing cash that will help revive the economy,” added Setiya.