CAIT bats for trader-friendly reforms

Srinagar, June 14:  Praveen Khandelwal, the newly elected Bharatiya Janata Party (BJP) Member of Parliament from Chandni Chowk and Secretary-General of the Confederation of All India Traders (CAIT), has vowed to champion the interests of traders and small businesses. He outlined a pro-trader agenda focused on easing compliance norms, refining the Goods and Services Tax (GST) regime, and scrapping obsolete laws.

Khandelwal stressed the need to simplify the GST compliance process to encourage voluntary compliance and boost revenue. "The next five years will be a golden period for trade and small businesses," he stated, underscoring the importance of GST reforms, decriminalizing outdated laws, and implementing a streamlined e-commerce policy.

Highlighting the significance of GST reforms, Khandelwal said, "Modi 3.0 will prioritize easing compliance for businesses, focusing on GST simplification and rationalization." While April 2024 marked a milestone with GST collections surpassing Rs 2 lakh crore, he believes broader inclusion of businesses under GST and easier compliance can enhance the ease of doing business.