CAIT backs penalty waiver in first 3 years of GST rollout -

Traders body CAIT proposed that the government should waive penalties on compliance errors during the first three years of rollout of the goods and services tax (GST) regime. Observing that it would be difficult for anyone to evade taxes under the new framework, CAIT said even the instances of under-invoicing will gradually wane as the tax department will have PAN-based registration and sale-purchase data of traders.

Source - http://www.dnaindia.com [15-10-2016]