Kota: The Kota Trade Federation has expressed gratitude to the Union Finance Minister for five major decisions taken in the interest of traders at the 57th GST Council meeting, which concluded at Bharat Mandapam on Thursday. The federation described the announcements as a significant step towards GST 2.0 reforms.
Federation President Kranti Jain and General Secretary Ashok Maheshwari said the long-standing demand of traders for faster GST refunds had been addressed. Under the announced reforms, traders will no longer have to wait 60 days to receive their refunds. Applications will be processed within 10 days, and the refund amount will be credited to their bank accounts within the next seven days, providing substantial relief to businesses.
Federation Vice-President Surendra Goyal ‘Vichitra’ said the new provisions would also offer relief from stringent enforcement measures. According to him, GST officials will not be able to arrest traders without court approval, and Section 69 will be abolished. He added that criminal proceedings for tax evasion would now be initiated only in cases involving amounts exceeding ₹5 crore, compared with the earlier threshold of ₹1 crore. Penalty amounts have also been reduced, offering significant relief to small traders.
Vichitra further said that honest buyers would not lose their Input Tax Credit (ITC) merely because their suppliers had failed to deposit the tax. Relief in e-way bill provisions is also expected to facilitate smoother business operations and accelerate trade.
He added that biometric-based Aadhaar verification would be implemented across the country to curb fraudulent GST registrations.
The federation said these reforms would ease compliance, improve cash flow for businesses and strengthen the trading community by reducing procedural hurdles.
