When will the 'One Country, One Tax' scheme come
- Traders' question in view of the budget
New Delhi. The central government may present the budget in the month of July. In view of this, different sections have started giving their opinion about the budget. The biggest demand of the traders is that the government has been saying for a long time that tax will be collected at a uniform rate for all business classes, but till now this idea has not been implemented. Different rates are being charged on the trade of different goods, due to which traders are facing many problems from collecting tax to getting its refund.
National Executive President of Rashtriya Jan Udyog Vyapar Sangathan Ashok Buwaniwala said that different tax rates discriminate in the business objectives of different sectors. Bringing the trade of all the remaining goods except the essential goods in a uniform category tax rate can help in bringing uniformity in business.
GST rates should not be changed in between
Many times the government changes the GST rates in between. Due to this, while calculating tax for the same financial year, tax has to be paid at different rates. This creates problems for businessmen. Many times, financial advisors who calculate tax also feel uncomfortable in calculating the changing rates. The government should change any tax rate only while presenting the budget, so that it becomes possible to pay tax in the same way in a financial year.
No timely refund
After paying tax, businessmen also get refund from the central government. But businessmen complain that sometimes it takes years to get this refund, while a businessman has to deposit crores of rupees in the form of tax. Till the time this money is deposited with the government, businessmen have to pay interest on it. If this refund is received on time, then the businessman can earn more profit by investing this money in business. The government should implement a restrictive rule to get this money returned within a limited time.
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