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The Mangaluru chapter of Confederation of Indian Industry (CII) has said the Budget promise to rationalise GST will be of major relief for many.
K Prakash Rao, Chairman of Mangaluru chapter of CII, told BusinessLine there has been a major promise to rationalise GST. It could be in terms of tax structure or in terms of ease of filing returns.
Stating that it has become highly complicated, he said: “I am sure they will do this exercise of GST simplification. Most of us are now struggling with the compliance part of taxation and therefore reforms in terms of ease of doing business in all these compliances is welcome.”
On the reform initiatives taken in terms of ease of doing business, he said faceless panels for small disputes of up to ₹10 lakh and making tribunals faceless are a welcome move.
“We are really buoyed by the fact that in spite of going through such a crisis of the pandemic, the Government has not initiated steps to increase personal or corporate income taxes,” he said.
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