New Delhi: As the Goods and Service Tax (GST) becomes a part of the business community, traders in India for the first time will worship the GST portal on Thursday during Diwali Puja.
“With the implementation of GST in the country, the GST portal has now become a cash book, ledger and books of accounts of the trading community instead of traditional bahi khaata. The trading community across the country will worship GST portal in the Diwali Puja tomorrow besides computers, mobile and other e-gadgets,” said small traders association CAIT in a statement.
Due to the cumbersome return filing processes and teething troubles of GST Network, the GST has become a buzzword for difficulties being faced by small entrepreneurs.
The Confederation of All India Traders, however, said that the traders would pray for the smooth functioning of GST Network and easing of other tax-related troubles by worshipping the portal.
Several traders have complained about faulty GST portal for their failure to submit returns on time and this has forced government to postpone deadline for filing returns.
The smooth functioning of the GST Network is important for the business people because any delay in filing returns — even due to network issues — would lead to penalties.
Diwali is the most imp-ortant festival for the business community, which marks the traditional new year, when they close their accounts. On this festival, businessmen worship Goddess Lakshmi wishing for a prosperous year ahead. The worship of the GST portal this year reflects the importance of the network for them.
On Thursday, meanwhile, BSE and the NSE will conduct special muhurat trading. The symbolic muhurat trading will happen between 6.30 pm and 7.30 pm....