To discuss issues encountered by the business community under the Goods and Services Tax (GST) regime, Amit Kapoor, president of Punjab Pradesh Vyapar Mandal and vice-president of the Federation of All India Vyapar Mandal, met Union Minister of State for Finance Pankaj Chaudhary in New Delhi.
Kapoor, in the meeting, furnished a detailed memorandum specifying distinct issues encountered by traders and the hotel industry. He said that the existing GST structure has made technical errors and practical hurdles, like complex return filing procedures, mandatory e-invoicing, a growing number of compliance notices, and a lack of clarity on input tax credit provisions.
Kapoor, while the business community assists the government’s tax policies, simplification and clarity in GST implementation shall contribute to economic growth.
The delegation included Federation of All India Vyapar Mandal general secretary RK God, treasurer Rajeshwar Penuli, and Punjab Pradesh Vyapar Mandal vice-president Deepansh Mittal. To make the GST regime practical and business-friendly, they presented troubles and proposed rectifications. The problem of GST levied on hotel room tariffs has been cited by Deepansh Mittal, as it is an unnecessary burden on the hospitality sector.
MoS Finance Pankaj Chaudhary, in reply, assured the delegation that the government is working to ease the GST system so that it becomes more trader-centric. He mentioned that the positive amendments shall soon be introduced to address the industry concerns and rectify the ease of business operations.
About Punjab Pradesh Vyapar Mandal
In Punjab, Punjab Pradesh Vyapar Mandal is a critical organisation for traders. The needs and interests of business owners in the region have been addressed through it.
For handling distinct challenges that the traders encounter, like complicated tax rules, potential increases in tax rates on everyday items like clothing, and the necessity for simpler regulations to make it easier for businesses to comply with laws, the group works closely with government officials.
