Businessmen May Face Problems Due To Proposed Rules Of GST

Businessmen may face problems due to the proposed rules of GST, request to withdraw from the Finance Ministry.

Businessmen are raising various kinds of questions regarding the new rules of GST proposed from April 1. Traders say that the punishment of defaulter traders cannot be given to honest businessmen.

Various types of MSME organizations are going to request the Finance Ministry to withdraw such a rule.

According to the GST rules that will come into effect from April 1, if the supplier of raw materials has not filed GST returns or has made any kind of omission.

Then the input tax credit will not be given to the manufacturers who have taken raw materials from that supplier.

Anil Gupta, a small businessman of engineering goods, said that with this new rule, he will also have to take care of his supplier whether he files the return or not.

He said that it is the job of the government to punish those businessmen who do not file returns or make mistakes.

Because of that businessman, it is not justified to stop payment of input tax credit to manufacturers like us.

Chartered Accountant (CA) Praveen Sharma said that the government may have to change this rule as many such cases have gone to court where businessmen who did not make mistakes got relief.

He said that the motive of the government behind bringing such rules could be that businessmen with defaulter tendencies should not be traded and they should be boycotted.

Sharma said that in the same way, the input tax credit will not be available for one time even if goods are taken from newly registered traders in GST from April 1.

Businessmen may face problems: He told that earlier many people have gone out of business by doing fraud by registering in GST.

Therefore, perhaps the government has taken this decision, but due to the implementation of this rule, people will be reluctant to buy goods from the newly registered traders on the GST platform.

Sharma said that the government should consider these proposals, which will be implemented from April 1.