Traders urge govt to ease GST, income tax compliance norms amid Covid second wave

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Amid several Covid 19 induced restrictions including localised lockdowns and night curfews, the Confederation of All India Traders (CAIT) has urged the government to ease rules in relation to compliances under goods and services tax (GST) and income tax to bring relief to the business community.</p>
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Non-compliance of these stipulations typically attract huge penalties on traders across the country.</p>
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CAIT has sent two separate communications to Finance Minister Nirmala Sitharaman in this regard. The industry body said that the rise in Coronavirus cases and subsequent measures to contain the spread have led to a drop in footfall in the market places. This has also impacted business for traders.</p>
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The traders have already undergone a big financial dent last year after the country went into a full nationwide lockdown for over a month.</p>
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Besides, the retail sector, many other segments including travel and tourism, hospitality, aviation have already started to feel the pinch. Supply chain management could also be impacted as most wholesale goods are transported at night.</p>