Finance minister Nirmala Sitharaman (File photograph)
NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday requested GST officers to foresee the issues faced by home businesses and address them proactively in order that they will compete on a worldwide scale and construct a self-reliant India.
In a message to tax officers on the third anniversary of Goods and Services Tax (GST), Sitharaman additionally mentioned there’s scope for relieving compliance additional for taxpayers, particularly MSMEs.
Asking taxmen to concentrate on the clarion name by Prime Minister Narendra Modi for an ‘Atmanirbhar Bharat‘, she mentioned for this motto of self reliance tax, particularly GST, administration may have a big function to play.
“We must foresee the issues faced by our business community and proactively address the same to enable them to compete on a global scale. Only by this proactivity can we ensure much needed economic growth in near future,” she mentioned in the message on the event of GST Day, 2020.
GST, which subsumed over a dozen native taxes, was launched on July 1, 2017. Since then the GST course of has been simplified and return submitting made straightforward particularly for small businesses.
The GST administration has additionally launched SMS-based return submitting system for ‘NIL’ filers.
Sitharaman mentioned extra efforts are required to ease tax compliance additional for taxpayers and made an assurance that the federal government is dedicated to persevering with these reforms in future as properly to facilitate taxpayers.
“We must strive to make the tax administration so simple that taxpayers find it easy to comply with all their tax obligations. This is the true essence of ‘ease of doing business’ as far as tax administration is concerned,” she mentioned.
The minister additionally mentioned the COVID-19 pandemic has led to some disruptions in the financial actions in the nation.
She additionally congratulated Central Board of Indirect Taxes and Customs (CBIC) and its officers for handholding taxpayers throughout this significant time and disbursing document quantity of refunds to ease their money circulate.