Amid the second wave of the COVID-19 disaster within the nation, the merchants’ physique – Confederation of All India Traders or CAIT has demanded an extension of compliances below the Goods and Services Tax (GST) and Income Tax by three months from the central authorities. In a letter addressed to Finance Minister Nirmala Sitharaman dated May 7, the Confederation of All India Traders said that previously 40 days, a lack of Rs 7 lakh crore is reported within the non-corporate sector, as per estimates. (Also Read: Second COVID-19 Wave Poses Downside Risk To Economic Activity: Finance Ministry )
The dealer’s physique which represents round eight crore merchants throughout 40,000 commerce associations within the nation, requested the Finance Minister to increase all statutory dues below the GST and Income Tax – during which both tax needs to be paid or return needs to be filed, by August 31, 2021. As a part of in search of COVID aid amid the second wave,
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