New Delhi, July 8 (KNN) With Goods and Services Tax (GST) completing its first week in the country, the government recently warned manufacturers, importers and sellers of punitive action in case they do not print the new updates prices under the GST. Confederation of All India Traders (CAIT) has sought relaxation from the government  in this regard.

Talking to KNN, Praveen Khandelwal, General Secretary at Confederation of All India Traders (CAIT) said that under GST the provision of initiating a punitive action was already prescribed and this warning by the government is in line with it.

Praveen however emphasized that there should be some relaxation and the punishment should not be levied as the entire country is new to GST.

“The initial nine month time should be treated as interim period. For any new policy, it takes time to understand and comply, we do hope that the government would consider not jailing or imposing fine”.

He also informed about the appeal his Association had made earlier to treat initial nine months as trial period. Responding to which the government did provide certain relaxations and he expects that the authorities would further consider this demand.

Under the Legal Metrology Act of the GST, the first offence for not updating the price may attract fine up to Rs 25,000 and for second offence the fine may be up to Rs 50,000. Also repeated offence  might land up the businessman in jail. (KNN/ DA)