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CAIT Seeks Extension Of GST Return Filings Deadline

CAIT has sought a financial package for the traders and a moratorium of six months on loans taken from banks and other financial institutions.

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Traders' body CAIT on Thursday sought extension of the deadline for filing various GST returns till August as well as cut in tax rates for medical and surgical equipment required for treating coronavirus and black fungus infections.

Ahead of the meeting of the GST Council on Friday, the Confederation of All India Traders (CAIT) has written to Finance Minister Nirmala Sitharaman urging her to extend the date of filing of various GSTR returns till August under the GST Act and Rules, without late fee and interest.

It said that GST officers should not resort to cancellation of registrations at this time unless there are pressing reasons for doing so.

Also, for all traders having turnover of below Rs 20 crore in a year, no survey or audits or special assessments should be ordered for the years 2017-18 and 2018-19, it added.

'As far as possible, authorities should be directed to be very discreet before they arrest traders or attach their bank accounts or summon them for statements. There is an atmosphere of panic in the trade and these actions will further create a crisis unless there are very pressing and urgent reasons and justification for doing so,' CAIT said.

It has also demanded that the rate of GST on all the medical and surgical equipment required for treatment of Covid and black fungus infections should be reduced considerably.

Further, CAIT has sought a financial package for the traders and a moratorium of six months on loans taken from banks and other financial institutions.

(PTI)