Surat: Leaders of the country’s largest Man-Made-Fibre (MMF) textile sector have urged the Central Goods and Service Tax (CGST) department to liberalize the rule 10A of the GST Act and protect the traders or taxpayers from the suspension of the GST registration.
Industry sources said the traders in the industry are suffering due to their suspension of GST registration for non-compliance with rule 10A of the GST Act. As per rule 10A, the details of the bank account have to be updated within 45 days of registration, failing which the taxpayer may face suspension of the GST registration.
According to the industry leaders, the second wave of coronavirus pandemic unleashed mayhem in the traders’ fraternity as they struggled for their survival due to the phenomenal decline in the demand for the MMF fabrics in the country and abroad. Dozens of textile traders succumbed to the deadly coronavirus infection and many were infected.
During the lockdown, the markets were completely shut and the traders couldn’t comply with the GST norms. Even banks were operating with limited staff and there were issues in the opening of bank accounts as well.
Bharat Gandhi, chairman of Federation of Indian Art Silk Weaving Industry (FIASWI) told TBT, “Apart from uploading the order, notices or any other community, the same should also be emailed to the taxpayers for timely compliance. Suspending the GST registration in such harsh times of coronavirus is inhumane and against the law. We request the CGST department to reconsider its decision and liberalize the policy”