Thread by @saraf_pankaj

BJP Govt is looting millions of honest #MSMES and destroying them with draconian #GabbarSinghTax. GST imposes heavy late fines and charge 18% on #GST amount.

Pandemic situation and Govt insensitivity collectively destroyed MSMEs.

#4YearsOfGabbarSinghTax

#MSMES are the backbone of the country and employment generation engines. Millions of honest taxpayers MSMES are victims of GST.

Many genuine MSME lost their business in this Pandemic and GST hammered them further to wipe them out of the market.

#4YearsOfGabbarSinghTax
2/n

GST charges 10,000 Penalty/month/return and 18% interest on principal GST amount. eg. if 100,000 GST is delayed.

GST charges 10,000 late fine + 18,000 Interest = 1,28,000.

Struggling MSMEs are made to pay 28,000 extra for 1,00,000 GST liability.

#4YearsOfGabbarSinghTax

3/n

Some #MSMES who have 0 sales, and not filing Nil returns are made to pay 10000/month/return as late fine.

So if you have 0 sales for 6 months, you have not filed nil return you have to pay 60,000/late fine on ZERO Sales.

#4YearsOfGabbarSinghTax

GST Council should declare how much penalty collection has made from GST late fine and Interest on GST.

This will give clear picture of how MSMEs are being looted and MSMEs are destroyed.

#4YearsOfGabbarSinghTax
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