The 57th meeting of the GST Council could mark an important phase in the evolution of India’s indirect tax regime, with the focus expected to move beyond rate rationalisation towards reducing litigation, strengthening input tax credit protections, resolving legacy credit issues and using technology to create a more predictable compliance framework. One of the key.
New Delhi: The sweeping changes have been made under the next-generation GST (Goods and Services Tax) rationalisation just days after Prime Minister Narendra Modi announced it from the ramparts of the Red Fort on Independence Day. This is aimed at reducing the tax burden on citizens while stimulating economic growth. The GST Council, on Wednesday,.
The announcement of next-generation GST reforms as a “Diwali gift” is a major step towards improving tax efficiency, enhancing compliance, and simplifying processes, according to industry chambers.
