Day: June 20, 2018

As GST enters 2nd year, Modi government must fix these 3 next level issues now

As GST enters 2nd year, Modi government must fix these 3 next level issues now

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One year of GST: The switch to the new indirect tax regime — the Goods and Services Tax (GST) — will complete one year soon. The GST was passed after over a decade-long deadlock and the transition failed to be smooth. However, experts say that overarching teething issues have largely been resolved and now the time is to fix the next-level problems to ensure that GST achieves its target of simplifying the taxation system. The GST has made India’s indirect tax system simpler and has stabilised to a large extent, Abhishek Rastogi, Partner at law firm Khaitan & Co said in an interaction with FE Online. Now, he said, the government must take up these three issues in the second year of arguably India’s biggest tax reform. Compliance: There should be ease of compliance. The ta