GUWAHATI: The Confederation of All India Traders (CAIT) has issued a call for Bharat Bandh tomorrow, February 26, in a protest against the "draconian" rules of Goods and Services Tax (GST). There will be a 12-hour trade bandh for all establishments across India.
This will have an effect on Assam as the bandh has been supported by the Assam Chamber of Commerce (ACC), which is affiliated with the CAIT.
The bandh is linked to the new amendment of the Goods and Services Tax (GST).
"The new amendments will affect the small scale businesses as a result of discrepancies whilst filing the GST due to technical errors," Sishir Dev Kalita, ACC General Secretary told G Plus.
In a letter, the ACC General Secretary has written the ramifications of the new amendment.
"Firstly if the seller of goods and service provider is not furnishing return on time (GSTR 1), the purchaser or service receiver cannot take the input tax credit on that transaction. How can one taxpayer be a sufferer for the fault of another taxpayer? This provision will tremendously increase government revenue but will have ill effect on working capital of businessman," the letter stated.