Business Bureau :
IN VIEW of lockdown, partial lockdown, night curfew and other restrictions imposed by various States Government in the country to fight increasing COVID pandemic, the Confederation of All India Traders (CAIT) has sent two separate communications to Union Finance Minister Nirmala Sitharaman urging her to postpone various compliance’s under GST and Income Tax to be made by the business community for next three months. CAIT National President B C Bhartia and Secretary General Praveen Khandelwal jointly informed that on April 10, the CAIT sent a communication to FM Sitharaman urging her to postpone 11 types of GST compliance’s which traders have to comply with in the month of April itself.
Non-compliance of these stipulations will attract huge penalties on traders across the country. Similarly, CAIT sent another communication to FM Sitharaman on April 19 and listed out 15 types of compliance’s to be made in the month of April and non-compliance of these provisions will further levy interest and penalty on the traders. “In these tough times when all the State Governments are taking strict precautionary measures in order to restrict the spread of COVID-19 in their states, it will not be possible to comply with all these statutory compliance’s in time,” CAIT said. Therefore, the late compliance’s on part of trade being not deliberate, the late fee and penalties should be waived off permanently till the situation gets normal in the country, it added.