इंडियन आवाज़     18 Jan 2019 02:56:28      انڈین آواز

CAIT welcomes today’s decision on GST


While appreciating the Union Finance Minister Arun Jaitley for leading the GST tax reforms in the Country today’s decision of GST Council are remarkable and ample testimony of the fact that the Government is alive to the problems of small traders and sincerely & seriously wish to resolve the same-said the Confederation of All India Traders (CAIT)

While welcoming the decisions, the CAIT said that decision of GST Council made today to give relaxation to small traders which will certainly take the taxation burden out from a large number of small traders in the Country.

CAIT National President Mr. B.C.Bhartia and Secretary General Mr. Praveen Khandelwal said that increasing the threshold limit from Rs.20 lakhs to Rs.40 lakhs is a welcome step and it is expected that nearly 10 lakh traders will be out from the clutches of GST with this announcement.

Both Mr. Bhartia and Mr. Khandelwal also said that raising the Composition Scheme limit from Rs. 1 crore to Rs. 1.5 crore is a much awaited decision and about 20 lakhs small businesses will be benefitted as they fall under the bracket of Rs.1 crore to Rs.1.5 crore. It is also appreciated that they will be now required to file only one annual return relieving them from the cumbersome procedure though tax has to be paid quarterly which is quite in line.

Threshold limit for Composition scheme for services has been decided at Rs. 50 lakh which is fair enough and about 10 lakhs small service providers will be benefitted with this scheme. It is also appreciated that they have put under a tax bracket of 6% which is quite reasonable.

Both Mr. Bhartia & Mr. Khandelwal said that however, the issues pertaining of early refunds to traders, lowering the GST Rate for Auto Parts, Aluminium Utensils and like items needs to be addressed. Filing of Returns from monthly to quarterly is also another area where GST Council has to work.

Govt Doubles GST Exemption Limit for SMEs


Leave a Reply

Your email address will not be published. Required fields are marked *



Maharashtra sweep all four gold medals in Kho-Kho; Haryana in three Kabaddi final at KIYG

  HSB / Pune On a day when there were only gold medals at stake, hosts Maharashtra made a clean s ...

Saina, Kidambi progress to quarterfinal of Malaysia Master

  Top Indian shuttlers Saina Nehwal and Kidambi Srikanth progressed to the quarterfinal of the Mal ...

Khelo India: Jharkhand stuns Odisha to set up Girls U-17 hockey title clash with Haryana

Harpal Singh Bedi / Pune “It is not over till it is over” Jharkhand proved this adage as after trailing 0 ...



Major buildings in India go blue as part of UNICEF’s campaign on World Children’s Day

Our Correspondent / New Delhi Several monuments across India turned blue today Nov 20 – the World Children ...

US school students discuss ways to gun control

             Students  discuss strategies on legislation, communities, schools, and mental health and ...


Noted Film actor Kader Khan passes away in Canada

Born in Kabul, Khan made his acting debut in 1973 with Rajesh Khanna's "Daag" and has featured in over 300 fil ...

Mortal remains of Mrinal Sen cremated in Kolkata

    Mortal remains of Legendary filmmaker Mrinal Sen, the last of the triumvirate of directi ...


@Powered By: Logicsart