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Will agitate against complex, arbitrary GST system: CAIT
New Delhi, Jan 17 (IANS) The Confederation of All India Traders (CAIT) has announced that it will launch a nationwide movement against the present Goods and Services Tax (GST) system which it claims has become "extremely complicated" because of several "arbitrary" amendments.
According to CAIT, the GST has become a hurdle in the smooth retail trade because of the complexities and arbitrariness of its provisions.
In a statement on Sunday, the traders' body said that it will convene a three-day conference of trade leaders of all states from February 8-10 at Nagpur to chalk out the future course of action. About 200 prominent trade leaders from across the country are likely to participate.
"Post-Covid, the retail trade is fighting hard for its survival and in such a situation, the GST system has become a devil for the business community due to several arbitrary amendments. In such a scenario, we have decided to oppose such amendments tooth and nail," the CAIT said in a statement.
CAIT Secretary General Praveen Khandelwal said that implementation of various programmes of the central Government have become a cause of severe pain for the traders, of which GST is one of the causes.
The present GST violates its basic fundamentals which were announced at the time of its implementation in 2017, he said.
"In place of 'Good and Simple Tax', it has become an obnoxious and complicated taxation system," he said.
Khandelwal added that the CAIT conference will also discuss e-commerce and the proposed e-commerce policy, empowering women entrepreneurs, appraisal of Mudra Scheme, easy availability of finance for traders, among others.
He was of the view that the retail trade stands neglected, although it generates an annual business turnover of Rs 80 lakh crore. As many as 8 crore traders in the country employ around 40 crore persons.
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Petrol, diesel prices steady even as crude boils
New Delhi, March 6 (IANS) Oil marketing companies have spared consumers of yet another petrol and diesel price hike even though the global oil market is on the boil with crude reaching within touching distance of year-high-level of $70 a barrel.
Petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital on Saturday. Across the country too, the petrol and diesel price remained unchanged.
This is seventh consecutive day when pump prices of auto fuels have remains unchanged.
After a spike in global oil prices seen over last two weeks with crude price jumping close to $67 a barrel, prices had fallen to around $63 a barrel but it rose again to cross $69 a barrel mark now after after the OPEC+ decision to continue with crude production cut in April.
Petrol and diesel prices have been rising continuously since February 9. In the 14 increases since then, price have gone up by Rs 4.22 per litre for petrol while diesel rate has risen by Rs 4.34 a litre in Delhi.
The increase in the previous weeks has taken petrol to cross historic high levels of Rs 100 a litre in several cities across the country.
The petrol and diesel prices have increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre, respectively so far this year.
Oil companies executives said that petrol and diesel prices may increase further in coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making loss on sale of auto fuels.
--IANS
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