Bharat Bandh today: Over 8 crore traders announce day-long strike, Check what will remain closed
Over 8 crore traders belonging to more than 40,000 trade associations across the country will observe the `Bharat Bandh' strike.
The Confederation of All India Traders (CAIT) has called for 'Bharat Bandh' today in protest against the rise in fuel prices and the new e-way bill.
The trader's body has also demanded a review of the provisions of the Goods and Services Tax (GST) and said that all commercial markets across the country will remain shut following their ‘Bharat Bandh’ call.
As per reports, around 40,000 traders' associations across the country will support the Bandh. All India Transporters Welfare Association (AITWA) will also support CAIT's Bharat Bandh call and hold 'Chakka Jam'.
Over 8 crore traders are expected to observe the `Bharat Bandh' strike. The traders will stage dharnas at as many as 1,500 places across the country.
West Bengal: Confederation of All India Traders has called for a nationwide strike today in protest against rise in fuel prices & new e-way bill & GST; latest visuals from Birbhum. pic.twitter.com/FL0hvkSHKJ— ANI (@ANI) February 26, 2021
What will remain closed?
• All commercial establishments/ markets across the country will remain closed today.
• Private transport is likely to be hit as the All India Transporters Welfare Association has asked all transport companies to park their vehicles between 6 am and 8 pm as a symbolic protest.
• Booking and movement of Bill-oriented goods will be impacted.
• The Confederation of All India Traders has called for a review of the GST system and simplification of its tax slabs for easier compliance by traders.
• The All India Transporters Welfare Association (AITWA) has called for abolishment of the E-Way Bill. The transport body has urged the government to track vehicles by using Fast-Tag connectivity to E-Invoice.
• The AITWA has joined the strike to also protest against rise in fuel prices.
• The transporters are urging the government to scrap the penalty on transporters for any time-based compliance target of transit and make diesel prices uniform across the country.
What is E-way Bill?
The E-way bill is a permit, which was introduced under the GST regime, that transporters require while moving goods from one place to another.
It is a unique bill number generated for a specific consignment.
What is the issue with the E-way bill?
• The recent amendment in the GST laws has narrowed the validity of the E-way bill. Now, the E-way bill will be valid for one day for every 200 km, as against 100 km earlier.
• The transporters feel that the narrowing down of the E-way bill will result in large of non-compliances and heavy penalties, resulting in disruption of the supply chain.
• The penalties for trucks carrying consignment with an expired E-way bill, or with an erroneous E-way bill amount to almost 200 percent of the tax value or 100 percent of the invoice value under Section 129 of CGST Act, 2017.