Traders body CAIT today demanded from the GST Council a nine-months interim period during which no penal action should be taken against them for any procedural lapses. The council is scheduled to meet tomorrow. Confederation of All India Traders (CAIT) said that the preparedness at the level of small businesses is at a low stage and about 60 per cent of traders are yet to adopt digital technology for GST compliance.
“Interim period from July 1 to March 31, 2018 will give ample opportunity to the traders to understand GST law, rules and regulations,” CAIT Secretary General Praveen Khandelwal said in a statement.
CAIT has submitted its representation to the Prime Minister and the Finance Minister urging for an interim period, he added.