BUVM President Babu Lal Gupta assures to take up there issues with GST Council and concerned Ministries of Govt of India
CHANDIGARH, 18 SEPTEMBER: Chandigarh Beopar Mandal, the Apex Trader’s Welfare Body affiliated with Bhartiya Udyog Vyapar Mandal, New Delhi, convened an executive member meeting in honor of Babu Lal Gupta, National President of Bhartiya Udyog Vyapar Mandal. Babu Lal Gupta the current President of BUVM assures the members to take up there issues with GST Council and other concerned Ministries of Govt. of India.
During this significant gathering, several crucial National Trader issues were extensively discussed, emphasizing the importance of addressing the challenges faced by traders across the country. The meeting provided a platform for collaborative efforts to find solutions to these issues and to promote the growth and well-being of the trading community.
Charanjiv Singh, President CBM in his address while welcoming Babu Lal Gupta, President, Bhartya Udyog Beopar Mandal, his Associates and Executive Members CBM said that BUVM is constantly addressing trader’s issues, recent being extension of benefit of MSME to traders and constitution of National Traders Welfare Board to resolve the trader’s issues.
Ram Karan Gupta read out important national trader’s issues regarding GST 1. Difficulty faced by purchasers because of fraud invoicing in the past and non-existence of such suppliers resulting to notices to the purchasers for reversal of Input Tax Credit along with interest and penalty. 2. Need to have liberal views and waiver of interest for any flaws or discrepancies done by any GST dealers during initial three years from date of implementation of GST as many modifications and procedures were new to the Traders. 3. If the amount is not paid by the purchaser to the seller within 180 days because of some dispute, no reversal of ITC should be demanded. 4. Procedures for new registration should be simplified and rationalized. Regarding Income Tax 1. Income Tax exemption limit which have been increased to 7 Lacs for assesses having income up to 7 Lacs should be allowed for all assesses to give benefit to all tax payers. 2. Income Tax maximum slab rate should be reduced from 30% to 25 % for individuals and small business on the pattern of corporate tax. Regarding Food Safety Act. 1. Food Safety License should be issued to the traders under FSSAI Act onetime for whole life like GST registration, income tax pan and shop act. Etc.
The immediate notification of Amnesty Scheme on Punjab Pattern for all pending Vat Assessment Cases imposing huge penalties was strongly echoed in the meeting.
In his address Babu Lal Gupta narrated achievements by Mandal by securing many traders friendly provisions on much legislation by pursuing Central Govt. and complimented that more and more traders in country are getting united and coming under umbrella of BUVM. He assured the members to take up issues raised in today Executive meeting with GST Council and other concerned Ministries of Govt. of India
Diwakar Sahoonja, Patron Cum Official Spokesperson of Chandigarh Beopar Mandal, expressed the Mandal’s commitment to working tirelessly for the betterment of traders and their interests. This meeting served as a testament to the dedication of Chandigarh Beopar Mandal and its affiliation with Bhartiya Udyog Vyapar Mandal in striving for the prosperity of traders nationwide which was initiated by late Shyam Bihari Mishra the founder President of BUVM and is getting stronger day by day.
Kamaljit Singh Panchhi, Gen. Secy. CBM wanted Sh. Babul Lal Gupta to recommend to the MHA nomination of President CBM as member of Advisory Body of Home Minister, Govt. of India and Administration not to put huge conversion charges while converting commercial properties to freehold from leasehold. Baljinder Gujral, Gen. Secy., CBM conducted the proceedings of the meeting. In the end Sat pal Gupta, Chairman, CBM read vote of thanks address for the visiting dignitaries and members of CBM for attending the meeting which was held in Hotel G.K. International, Sector 35-C, Chandigarh on Saturday.