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CAIT Pitches For GST Rates Rationalisation And Review Of Rules

He also added that the rate rationalisation of GST should be done after consulting stakeholders. He laid much stress on keeping textile and footwear under the tax slab of 5 per cent

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Amid the meeting with Union Finance Minister Nirmala Sitaraman, the Confederation of All India Traders (CAIT) has urged the centre to introduce an exercise to review afresh the Goods and Services Tax (GST) act and rules which also needs greater simplification.

The trade body said it is planning to meet finance ministers of all states to put forth its demand. It is holding a two days convention of trade leaders of the country at Nagpur from 25 to 26 June 2022 to draw a strategy for a national campaign on both GST and e-commerce which will begin on 1 July.

Nearly 100 prominent trade leaders of all states will have a brainstorming session at Nagpur during the two days of the convention, CAIT said. 

A few days ago, Praveen Khandelwal, Secretary-General, CAIT met Sitharaman and stressed the need for widening the tax base of GST by simplification of GST act and rules which will yield more revenue to both central and state governments. 

Khandelwal also suggested the formation of a Joint GST committee in every district of the country composed of senior tax officials of GST and trade leaders of the respective district. 

"The committee will be assigned the task of monitoring GST implementation and redressal of traders grievances and make all efforts to onboard more & more people under GST regime," he said. 

He also added that the rate rationalisation of GST should be done after consulting stakeholders. He laid much stress on keeping textile and footwear under the tax slab of 5 per cent. 

BC Bhartia, National President, CAIT and  Khandelwal said that the trading community of the country is of the considered opinion that currently, a large number of items fall in the wrong bracket of tax rate and therefore rate rationalisation will give an opportunity to recast the GST tax slabs and right item in right tax rate should be placed to avoid anomalies and disparities. 


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