Traders expect new govt to simplify GST

Anvita Srivastava
Thursday, 23 May 2019

President of Pune District Hosiery Handloom Readymade Dealers’ Association Manoj Sarda said, ‘‘Currently we are conducting two audits, one for GST and another one for income tax and we expect there should be just one audit for both GST and income tax. The paperwork should also reduce so we could pay more attention to our core work.”

PUNE: City-based traders, merchants, jewellers and developers shared with Sakal Times, the expectations they have from the new government. They demanded that the new government should simplify Goods and Services Tax (GST) and reduce the compliance of taxes on the business community. They also said that the government should also address issues of national interest like security and keep a watch on illegal immigrants.

President of Pune District Hosiery Handloom Readymade Dealers’ Association Manoj Sarda said, ‘‘Currently we are conducting two audits, one for GST and another one for income tax and we expect there should be just one audit for both GST and income tax. The paperwork should also reduce so we could pay more attention to our core work.”

President of Pune Stainless Steel Merchants’ Association Shantilal Jain said, “The new government should address the issues related to national security and there should be no reservation. Everyone should be treated equally. The present government has made changes in the GST already but it should be simplified.”

Fateh Chand Ranka of Poona Saraf Associations, Pune Vyapari Mahasangh said, “The government should encourage small scale traders and not only the businesses that bring Foreign Direct Investment (FDI). They should bring policies which could help the small traders grow.” He added, ”Cash transactions should be encouraged and if digitalisation is the only option, the bank charges on each digital transaction should be reduced.”

President of Poona Automobile Dealers’ Association Virmeet Singh Maini said, “The compliance of taxes has increased the burden on the business community and it has hit small traders badly as they are not that well equipped. Thus, it is important to make changes in the format so everyone can co-exist. Vehicles are no more a luxury but they have become a necessity and we expect the government to add most of the auto spare parts in 18 per cent tax slab.”

“Electricity is one of the most important necessities for the automobile industry and we expect the new government to ensure uninterrupted power supply so our work is not hampered,” added Maini.

“The issues related to metro rail and water woes in the city should be resolved. The new government should take action on illegal immigrants and work in the best interest of the nation,” said Kamlesh Shah, President of Poona Wholesale General Merchant Association.

CREDAI SUGGESTS CHANGES IN THE INCOME TAX ACT
- Vice President of CREDAI National Shantilal Kataria said, “We have given a presentation from CREDAI to PMO regarding our expectations from the new government on April 19. We have suggested changes in Income Tax Act sections 80c, 24(B) 88ee, sec 43ca, 50c, income tax relief on rental income and soft loans to home buyers up to Rs 30 lakh. We have also asked for REIT in residential properties, stressed asset fund for stalled projects, effective implementation of digitalisation on approval process, time-bound approval process, rental housing policy to boost real estate industry and also fulfil the demand of public at large.”
- Kataria further added, “We have also asked home loans to buyers in the unorganised sector and long-term home loans from banks and HFI (held for investment) loans. The environment clearances procedure should be simplified and it should be made sure cost of construction is not increased.”

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