Need To Undertake Next Level Of Reforms In GST Says FICCI

The FICCI has congratulated the Government on completion of two years of implementation of Goods and Services Tax (GST). It has been a landmark taxation reform in Indian history and given the set of challenges associated with implementation of reforms of such magnitude, the government?s proactive response to those challenges is praiseworthy, noted Sandip Somany, President, FICCI. Both Central and State governments have taken industry's concerns into consideration and resolved the same timely, which gives immense confidence to the business fraternity that we are on the right path. The way the GST Council and tax administrators have worked in the last two years, continuously aiming towards bringing simplification, rationalization of rates and broadening the base under GST regime is praiseworthy, he added. While we acknowledge that the teething troubles related to GST implementation may have been resolved, we now need to move forward to achieve the underlying objective of GST framework of creating a simplified indirect taxation system. This would require undertaking next level of reforms in the GST framework that would in true sense enhance the ease of doing business in India, stated Somany.

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