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04/09/2017 05:39am

Bring small traders with turnover less than Rs 20 lakh under GST: PM Modi to tax officers

image Bring small traders with turnover less than Rs 20 lakh under GST: PM Modi to tax officers

New Delhi, Sept 4 (KNN) Eyeing at increasing the tax trace of the newly implemented Goods and Services Tax (GST) in the country, Prime Minister Narendra Modi has urged the tax officials to adopt a mechanism that could bring in the small traders, especially the traders with annual turnover of less than Rs 20 lakh, under the GST regime.

PM Modi made the appeal addressing central and state tax officials at the inaugural day of the Rajasva Gyan Sangam in the national capital over weekend.

PM asserted that the inclusion of businesses and tradesmen under the GST will help bring in a more transparent mechanism in the country and also facilitate a unified marketplace for the economy.

As of now, under the provisions of the GST, traders with an annual turnover less than 20 lakh are exempt for the Goods and Services Tax, however the Prime Minister instructed the state and central tax officials to encourage even these businesses to get registered under the GST.

PM Modi further commented on the need to adopt a speedy mechanism to resolve the pending tax litigation cases.

He said that the working of the department with respect to the tax cases is not up to the mark and the department must figure out ways to facilitate speedy disposal of these cases.

According to the latest GST registration data over 13.80 lakh taxpayers are yet to complete the formalities required under the GST however over 58.83 lakh taxpayers have successfully completed the migration to the One Nation One Tax regime. (KNN/DA)

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