The Public Accounts Committee (PAC) recommends a revamped GST 2.0 to simplify compliance, expedite audits, ensure transparency, and improve refund processes. GST, introduced in 2017, unifies indirect taxes, boosts economic growth, and enhances transparency. Addressing complexity, compliance burdens, and IT glitches is crucial for a more efficient and taxpayer-friendly system.
The Public Accounts Committee has raised several critical issues with the Goods and Services Tax (GST) framework. It has called for a comprehensive review to eliminate unnecessary procedures and requirements that complicate compliance.
The committee has urged the government to consider a revised GST 2.0 after consulting with all stakeholders...
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