On GST anniversary, CAIT calls for review of indirect tax regime

economictimes.indiatimes.com:

CAIT on Saturday called for a fresh review of GST and said a special task force should be constituted to suggest ways to reduce multiplicity of laws and regulations on traders under the indirect tax system. The Confederation of All India Traders (CAIT) described the completion of six years of implementation of GST in the country as a landmark success.

The GST regime came into effect from July 1, 2017. However, it said much more needs to be done to make Goods and Services Tax (GST) a simplified and rationalised tax system.

CAIT Secretary General Praveen Khandelwal said that the GST tax system should be made stable and more simplified by removing the current existing anomalies. «For this, a special task force should be constituted, in which besides senior government officials, representatives of businessmen and industry should be included.

While this task force will on one hand give suggestions to rationalize the GST tax system and reduce multiplicity of laws and regulations on traders, on the other hand it will also suggest how to increase and enlarge tax net. Suggestions will also be given to prevent fake billing, tax evasion and wrong inputs,» Khandelwal stated.