Excelsior Correspondent
JAMMU, Oct 7: Federation of Retailors Associations (FoRA) Jammu province lauded the GST relief announcements made by the Govt after the GST Council meeting held on Oct 6 and termed it as step in right direction.
President of the Federation, Yash Paul Gupta specially complimented the Govt’s decision to allow business with annual turnover of up to Rs 1.5 crore to file quarterly turnover return and pay tax instead of current provision of monthly filling return.
He also welcomed the decision of rising turnover thresh hold for business to avail the composition scheme to Rs one crore from current Rs 75 lakh. This would help the small businessman to do their business easily without going through tedious formalities, Gupta said.
Gupta also appreciated the decision of slashing tax rates cut on more than 25 items.
According to Gupta addition of more items of daily use to exempt list will come as a big relief to retailers as well as consumers, but Gupta appealed to the Govt to remove the difference between the branded and unbranded food items of daily use as they will create unnecessary confusion and will remain potential source of corruption, mis-understanding and heart burn. Both for the retail businessman and the consumers. Food items of common man every day use both branded and unbranded should be totally exempt from GST.
Gupta expressed confidence that after reducing the compliance burden of medium and small taxpayer in GST and giving relief to major section of society in the form of reduction in the rate of GST. The Govt will continue its efforts to make GST regime more simple and easy to protect citizens’ interest and put life in the country’s economy.
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