Ludhiana businessmen unhappy over frequent changes in GST system

Ludhiana, Apr 4 (KNN) The Ludhiana businessmen are unhappy with the frequent changes made by the union government in the requirements for compliance to the GST system, reported TOI.

Many are also of the opinion that the earlier value-added tax (VAT) system was much better, where they had to physically furnish returns as not everyone is technologically equipped for the new system.

Harish Kairpal, president of Ludhiana MSME Association said, “In the recent development related to GST compliance, those assesses whose bank accounts do not have a verified KYC are getting alerts from GSTIN portal, asking them to re-verify the account details.”

“It is almost six years now since the GST came into existence in India but it is sad and shocking that till, now new changes are being made to GSTIN portal which are making compliance difficult for the taxpayers. On one side the Centre propagates that its focus is on ease of doing business, but on the other hand it is bringing frequent changes to the GST system,” he said.

Rajkumar Singla, president of Fastener Supplier Association of Ludhiana said, “Despite repeated changes in GST in the name of making the system more secure, the government has failed to stop the scamsters committing GST frauds; and in the entire process genuine businessmen are the ones who are getting affected by so many changes.”

The association has suggested the government to revert back to the earlier VAT system.  (KNN Bureau)