The Confederation of All India Traders (CAIT) has urged Finance Minister Nirmala Sitharaman to address the concerns of the business community as the Union Budget is imminent.
The traders' association has stressed the importance of simplifying the Goods and Services Tax (GST) law to make it more trader-friendly.
It has also proposed setting up district-level GST coordination committees for efficient problem-solving and a stronger GST network that will benefit both central and state governments.
CAIT national president BC Bhartia and national general secretary Praveen Khandelwal have advocated for introducing a special corporate income tax regime and aligning it with the existing corporate structure.
They called for a comprehensive review of all laws affecting businesses and emphasized eliminating outdated and irrelevant regulations.
In line with the Prime Minister's vision of 'One Nation, One Tax', they have proposed streamlining the licensing system by introducing a single license for businesses.
Additionally, CAIT has called for immediate announcement of an e-commerce policy and implementation of the National Retail Trade Policy.
The dealers' association has recommended easier access to low-interest loans, an overhaul of the pension system for dealers and the establishment of special trading zones for wholesale stores in state capitals.
CAIT has proposed setting up task forces for various sectors, including textiles, toys, mobile phones, electronics, auto parts, hardware, jewelry and readymade garments, with the aim of boosting exports.
To address the issue of unusable checks, CAIT has proposed setting up recovery courts or Lok Adalat at the district level to facilitate quick resolution within 45 days.
They have placed emphasis on ensuring that the benefits of the Micro, Small and Medium Enterprises (MSME) program reach businesses and formulating policies for infrastructure development in the markets.
CAIT has also highlighted the need to strengthen the banking system for businesses and has proposed subsidizing bank fees on credit and debit cards for digital payments and the formation of a Digital Payment Promotion Board.
Praveen Khandelwal stressed the urgency for the central government to announce an amnesty program in the Budget to save Delhi from sealing.
He also proposed setting up a business committee at the lieutenant governor level to focus on representing traders and formulating policies to create new business opportunities in Delhi.
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