GST rationalisation to boost retail sector: Netree

Retail engagement platform Netree today called for further rationalisation of the Goods and Services Tax (GST) by restricting the number of tax slabs at two to promote the retail sector growth.
"Rationalisation of GST should be done with just one to two plainer slabs along with simplification on account of filing of returns," Desi Valli, founder and CEO, Netree, said in a statement.
He also urged the government to look at simplifying the procedures for filing returns.
Too many slabs create compliance burden for small and medium retailers, he said.
"As we need to deal with all the stakeholders in retail value chain, simplification of procedure will make the compliance easier and error free," Valli said.

Further, Valli demanded tax incentives on digital payments for small and medium retailers to be announced in the forthcoming Budget to promote digital transactions.
"Government must propose separate funds to organise start-up meets to enable various stakeholders to meet and explore opportunities," he added.