Traders welcome GST Amendment Bill, offer suggestions to Manish Sisodia

One of the key features of the GST amendment bill is the removal of the requirement of compulsory filing of audited annual accounts and reconciliation statements of the registered taxpayers, which had earlier made traders dependent on chartered and cost accountants.

Delhi deputy chief minister Manish Sisodia, who also handles the finance portfolio, on Monday met with representatives of market unions who thanked the government for passing the Goods and Services Tax (Amendment) Bill, 2021, in the Delhi assembly on Friday. The bill, according to the government, is aimed at smoothening the taxpaying process, strengthening accountability and minimising room for tax evasions.

"The doors of the government are always open to traders and they can provide their suggestions any time,” Manish Sisodia told traders.. (HT Photo)

“The Delhi government keeps taking suggestions from traders of Delhi from time to time and makes its policies based on that. The doors of the government are always open to traders and they can provide their suggestions any time,” Sisodia told traders.

One of the key features of the GST amendment bill is the removal of the requirement of compulsory filing of audited annual accounts and reconciliation statements of the registered taxpayers, which had earlier made traders dependent on chartered and cost accountants.

Further, in case of detention, seizure of goods, etc.,the goods can now be released on the payment of a penalty, as against the earlier practice of having to pay a tax as well as the penalty.

GST expert and chartered accountant Rakesh Gupta, who attended the meeting with the deputy chief minister, said, “Lakhs of traders will benefit greatly from the bill, a positive consensus can be noticed among traders,” he said.