The Confederation of All India Traders (CAIT) has called for further simplification of the Goods and Services Tax (GST) regime, noting that monthly tax collections have surged sevenfold since the tax was introduced in July 2017. CAIT Secretary General Praveen Khandelwal stated that the GST has streamlined the indirect tax system but still requires improvements to reduce compliance burden on small traders.
Key Demands for Simplification
CAIT has proposed several measures to make GST more trader-friendly. These include reducing the number of tax slabs, simplifying the return filing process, and increasing the threshold for GST registration. The organization also suggested that the composition scheme should be made more attractive for small businesses.
Rise in Collections
Monthly GST collections have risen from around Rs 90,000 crore in the initial years to over Rs 1.5 lakh crore currently, indicating a sevenfold increase. Khandelwal attributed this growth to better compliance and economic expansion, but stressed that further simplification could boost revenue even more.
CAIT also highlighted the need for a single monthly return instead of multiple filings, which would ease the burden on traders. The association has been consistently advocating for a simpler tax structure to encourage voluntary compliance.
