Buyer Cannot be Penalised Demanded CAMIT

A Chamber of Associations of Maharashtra Industry and Trade (CAMIT) delegation led by Mohan Gurnani attended an interactive session with Honbl. Interim Finance Minister Piyush Goyal.

The session was very well attended by representatives of Trade, Industries and Transport. The Government congratulated one and all for successful completion of one year of GST with everyone’s support.

Mohan Gurnani raised various unresolved issues and hardships in GST, still faced by trade and industries. He drew the attention of Honbl. Interim Finance Minister for below mentioned unresolved issues:

  1. Reconsideration of reduction in rate of 28% for household consumption items.
  2. Subsuming stamp duty with GST on real estate transactions
  3. To bring Petrol and Diesel under GST
  4. Blocking of working capital due to inverted duty structure
  5. Remove cess on GST
  6. Relaxation in E-Way bill compliances for small traders
  7. Reversal of Input Tax credit if supplier defaulted on payment of GST
  8. Other recommendations in ease of doing business by considering to adopt Maharashtra MVAT’s SAP system for flawless GST compliances.

CAMIT suggested TDS like mechanism whereby buyer can directly deposit GST in Govt Treasury and gives certificate to seller. This takes care of liability of paying GST falling on buyer in the event of default by seller.

In all it was a very satisfactory and fruitful interactive session which will definitely yield benefits to all.

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