EEPC India bats for 'faceless' GST audit system
ease of doing business in the country. The apex engineering exports promotion body's proposal comes following the successful implementation of 'faceless assessment' by the Income Tax department.
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«The faceless GST audit system, by using technology and ensuring anonymity, will reduce compliance costs. A faceless system will streamline procedures allowing MSMEs to focus on growth and innovation,» said Pankaj Chadha, chairman of EEPC India.
The proposal is a part of EEPC India's Budget 2025 recommendation.
By introducing a «faceless» GST audit system, India can further improve its ranking in the Ease of Doing Business index, making it a more attractive destination for foreign investors, it said.
It also proposed that Reverse Charge Mechanism (RCM) related liabilities should be eligible for the 'Amnesty Scheme' to address challenges faced by exporters, who may be unaware of foreign bank charges and foreign business services.
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