Our Terms & Conditions | Our Privacy Policy
The Engineering Export Promotion Council (EEPC), India on Sunday proposed the introduction of a “faceless” GST audit system to boost 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.
“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.
- Read also:Finmin imposes definitive anti-dumping duty on digital plates from China, South Korea, Japan, Taiwan and Vietnam
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.
SHARE
Published on December 29, 2024
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Aggregated From –
Comments are closed.