The Confederation of All India Traders (CAIT) are now finally pleased and satisfied with the decision made by the GST council, which will allow relaxation to the traders having annual turnover upto INR 2 crore, by filing of annual GST returns for the last two years.
According to Praveen Khandelwal, Secretary General of CAIT, this proactive approach of the government will bring relief to about 50 lakh traders across the country. He, however, also mentions that the form of annual GST return is very complicated and it needs to be simplified so that an ordinary trader even in a rural area can understand as well as comply to the form on its own.
Along with the form, many other procedures of GST needs to be simplified and rationalised, says Khandelwal. According to him, the taxation system should be amended by incorporating revision of returns, quarter filing of returns instead of on a monthly basis.