Foreign e-commerce companies are like economic terrorists: CAIT
- February 28, 2021
- Updated: 01:41 am
DW BUREAU / Chandigarh
The Confederation of All India Traders (CAIT) has held the officers responsible for distorting the GST laws implemented by the Government
Harish Garg Chairman of Chandigarh Chapter of CAITsaid that traders across the country feel that GST is the best taxation system for a federal country like India but in the last four years, repeated amendments to GST have changed the basic principles of GST. He said that the present form of GST has been distorted and transformed into a complex taxation system rather than a simple tax system.
Pawan Jain President of Akhil Ekta Udyog Vyapar Mandal and Arsh Aggarwal, General Secretary said that the revenue earned under the current tax system base and GST is extremely low. The traders held a meeting to discuss the GST issues.
CAIT is of the view that more than 2 crore people should have been registered under GST over a period of 4 years and similarly, the current earned revenue of about 1.15 lakh crores should also be more than 2 lakh crores. There is immense potential to increase both these figures in the country and as a responsible organization of the country, CAIT is keen to fulfill this objective with both Central and State Governments but taxation system should be easy and tax compliance on business community. The load should be less.
Harish Garg said that foreign companies violating FDI policy for their personal purposes in e-commerce are "economic terrorists" intended to seize the country's e-commerce and India's domestic trade.
However it has often been claimed by them that the small retailer has benefited through their portal, which is grossly inaccurate. In fact, they sell goods on their portals only through their favorite vendors. Unfortunately, small and medium-sized merchants have suffered badly.
(editor@dailyworld.in)