Many large companies to move Appellate Authority against GST demand notices
In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).
The Confederation of All India Traders (CAIT) on 26 June called for a nine-month "trial period" of the landmark taxation reform Goods and Services Tax (GST).
According to CAIT Secretary General Praveen Khandelwal, if accepted then the nine month period from 1 July, 2017 to 31 March, 2018 should be utilised to understand the GST by both the government and traders as the new tax regime will be different from the current one.
Khandelwal spoke at the launch of CAIT's "GST White Paper" which consists of all the important aspects of the taxation reform.
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Further, CAIT urged the government not to take penal action against any trader for procedural lapses. However, it clarified that wilful tax defaulters should be dealt with in accordance with the law.
In the "White Paper", the traders' body asked for GST facilitation centres to be opened in the offices of trade associations.
Earlier, CAIT launched a business solution — BizGuru — for the non-corporate sector and allied verticals to embrace technological advancements with the aim to enable seamless transition of traders to the GST regime.
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