The Confederation of All India Traders (CAIT) has complimented both Union Finance Minister Shri Arun Jaitley and Union Minister of State for Commerce Smt. Nirmala Sitharaman for adhering to committed stand of BJP on Goods and Service Tax (GST) and FDI in Retail which has direct and important bearing on trading community comprising of more than six crore business enterprises across the Country.
CAIT National President B.C.Bhartia and Secretary General Praveen Khandelwal said that GST is the ultimate indirect tax reform in the Country which will stimulate and structure the trade in India and will usher into more generation of revenue for the Government and mitigating genuine hardships of the traders being faced regularly due to current complex taxation system. " We welcome Mr. Jaitley for his eagerness to push early introduction of GST and assure the Government of full cooperation of the trading community which needs to be consulted prior of drawing any road map"-said both Mr. Bhartia and Mr. Khandelwal.
The CAIT is advocating a single point uniform GST with uniform tax rates across the Country with a single commanding authority. All sorts of commercial taxes levied by Central and State Government and by local self Government must be subsumed in GST. The CAIT has urged Union Finance Minister to share details of proposed GST with stakeholders.
Complimenting Smt. Nirmala Sitharaman for putting an end to speculations about role of new Government on FDI in Retail, both Mr. Bhartia and Mr. Khandelwal said that she has meticulously reiterated the stand of BJP not to allow FDI in Retail which has bring an end to all speculations. They also said that the issue of FDI in retail e commerce which is the talk of the day is also equally important and we urge the Commerce Minister to initiate a dialogue with the stakeholders and give a fresh look-said both leaders. The FDI in retail e commerce shall prove to much more harmful to traders since there is no geographical boundaries and the global players shall be able to control the market with their deep pockets and outreach.
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