Traders Body Says Commercial Markets Across India To Remain Shut On Feb. 26
People sit outside shuttered stores in Delhi. (Photographer: Prashanth Vishwanathan/Bloomberg)

Traders Body Says Commercial Markets Across India To Remain Shut On Feb. 26

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The Confederation of All India Traders on Thursday said all commercial markets across the country will remain closed on Feb. 26 in view of its 'Bharat Bandh' call demanding a review of the provisions of the goods and services tax regime.

The CAIT said protests will be held nationwide in 1,500 places demanding the Centre, state governments and the Goods and Services Tax Council to keep in abeyance the "draconian" provisions of GST.

It also called for a review of the GST system and its tax slabs to simplify and rationalise it for easier compliance by traders.

Addressing a press conference, CAIT Secretary-General Praveen Khandelwal said it is also talking to the government on this issue.

He said the All India Transporters Welfare Association will also support CAIT's Bharat Bandh call and hold a 'Chakka Jam' on Feb. 26.

"All commercial markets across the country will remain closed and protest dharnas will be organised in different cities of all states," Khandelwal said adding that along with CAIT, over 40,000 traders' associations across the country will support the Bandh.

Also read: Budget 2021: Key Changes In GST To Help Small And Medium-Sized Businesses

He observed that voluntary compliance is the key to a successful GST regime, as it will encourage more people to join the indirect tax system, increase tax base and boost revenue.

Khandelwal said that almost 950 amendments have been made so far to GST rules in the past four years. Issues related to glitches in GST portal and the continuous increase in compliance burden are the major lacunae in the tax regime, he added.

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