Continuing with it's commitment of creating mass awareness towards fast track implementation of Goods and Services Tax (GST), the Confederation of All India Traders (CAIT), unveiled “GST White Paper” in a well-attended conference organised in New Delhi.Consisting all the important aspects of GST and its compliance, “GST White Paper” released by CAIT is meant to empower the traders with all the required knowledge pertaining to GST and moreover, it is also intended to make traders and others GST compliance.In the run up to GST which is slated to be implemented from July 1, CAIT has already taken the note of the ground reality that a large number of traders across the country still remain unaware about the basic fundamentals of GST and the compliance obligations. Apart from educating traders and other sectors, on the core factors of GST, the white paper released by CAIT also represents its viewpoints on the new law and helps readers understand the nation’s biggest tax reform in a cohesive manner.
Unveiling the “GST White Paper”, CAIT National President Mr. B. C. Bhartia & Secretary General Mr. Praveen Khandelwal in a joint statement released in the conference today said, “Though GST is going to be implemented in less than a week from today, yet large number of traders across the Country are still unknown about not only the basic fundamentals of GST but even the compliance obligations. Through this White Paper, we intend to disseminate vital information on Goods & Services Tax (GST) to traders and people in general. It is important for the traders and all to understand that GST being a technology based taxation system is much different from the current VAT, Excise & Services Tax regime. Stated to be a landmark reform in Indirect Taxation System of the Country, it has several aspects of compliance which can be fulfilled only through digital technology.”
For seamless GST implementation, CAIT has already taken a big leap forward in its attempt to train and educate the trading fraternity on GST compliance and adoption of digital payments through its national campaign launched on May 01, 2017 in association with MasterCard, HDFC Bank and Tally Solutions under which more than 130 market camps, seminars and workshops are being organised in close vicinity of small traders across the country in various geographies of the country. CAIT has also launched Digi Varta national campaign including “DIGITAL RATH” to educate and empower small business and the trading community on enhanced adoption of digital payments. The mega initiative will also help traders’ transition towards the GST regime. Besides trading community, CAIT has also aimed to reach out to the farmers, transporters, hawkers, small and medium enterprises, consumers, women entrepreneurs and self-employed groups, among other sections. Obviously, this campaign by CAIT is in line with the prime minister’s efforts for converting the Indian economy into a cashless economy.