NEW DELHI: Deputy Chief Minister Manish Sisodia on Monday met representatives of various market associations and briefed them about the amendments in the GST Bill.The assembly had last week approved 15 amendments in the Delhi GST (Amendment) Bill. The traders, happy with these changes, thanked the finance minister, said a released by his office.
Briefing the traders about the changes, Sisodia said they would no longer need to do GST audit. Lakhs of traders will get relief due to the elimination of the mandatory GST audit, considering it added a lot of financial burden on them, the minister said.
“Earlier, if the GST 3B (self-declared summary of returns) was late, a rule of interest was attached to the entire output tax. Now, after the change in section 50, interest will have to be paid only on the net cash liability.
“Similarly, previously, there was a provision to pay tax and fine in case of detention or confiscation of goods. Now, traders and transporters have been given relief by changing it. The rules to prevent evasion of GST by creating bogus firms have also been tightened, which will ensure that the masterminds of such thefts are caught and held accountable,” Sisodia added.