Modi gives exit route to small traders from I-T lens

Prime Minister Narendra Modi on Sunday asserted the process of taking “important decisions” regarding the economic reforms will continue. The assertion came at a time when the opposition parties have been attacking demonetisation and goods and services tax (GST) roll-out.
 
On a day-long visit to Gujarat, Modi also reached out to traders, saying their past records would not be checked by the income tax department if they join the formal economy by getting themselves registered under GST.
 
“After all reforms and hardcore decisions, the economy is on track and is going in the right direction,” Modi said addressing a rally in Gujarat.

 

“Many economists have agreed unanimously that the fundamentals are strong,” he added. He was apparently answering critics who have been saying the economy is in bad state. Congress vice-president Rahul Gandhi had attacked Modi during his recent campaign tour in Gujarat, after the growth rate slipped to 5.7 per cent in the first quarter of 2017-18. Talking about GST, Modi said the number of traders joining the new indirect tax regime is increasing day by day.
 
“In the last few months, 2.7 million additional people have registered themselves for this indirect tax. Tax rules, system, tax officials and even politicians are forcing them to do it,” he said.

 
“I know those who are joining have fear that their past records will be checked. I assure you no tax officials will be allowed to open past records of those who want to come in the mainstream,” the PM declared.
 
“GST has eliminated check posts on borders. Trucks do not have to wait for days and corruption at checkposts has stopped. Those who used to take contracts for ensuring passage of your trucks through checkposts are naturally angry with me,” Modi said.