New Delhi, 28 May 2021: The Confederation of All India Traders (CAIT) has written a letter urging Finance Minister Nirmala Sitharaman to extend the date of filing of various GSTR returns till August, under the GST Act and Rules without any late fee and interest, just before the GST Council meeting held on Friday.
An extension of the deadline to fill out various GST returns till the month of August and also a cut in tax rates for medical and surgical equipment needed for treating coronavirus and black fungus infections was sought by CAIT, this Thursday.
Adding, GST Officers should not employ to cancellation of registrations at this moment, unless its the need of the hour.
Moreover, the traders with a turnover below Rs. 20 crore a year should be exempted from special audits, surveys, or special assessments for the years 2017-18 and 2018-19.
CAIT said, “As far as possible, the authorities should be directed to be very discreet ahead of the trader’s arrest, or attach their bank accounts or summon them for statements. Since a panic state remains in the trade and these actions create a crisis unless there are any pressing or urgent reasons or jurisdictions present for the act.
Further, it has sought a financial package for the traders and abeyance of six months on loans from banks or any other financial institutions.