GST, India's boldest and truly monumental tax reform, recently celebrated its third anniversary. Just when the dust around this modern tax law seemed to be settling, the past six months witnessed unique challenges due to the pandemic. Presently, the first cycle of assessments in the GST regime are commencing shortly and another due date to file annual reports and audits are a fortnight away.
It is opportune to understand the progress made during the last three years in the GST Law, the likely changes so that the law is more simplified and also what could occupy the mind space of the regulators, taxpayers and professionals in the near future? Several facets of the GST Law are topical - e-invoicing, computation of interest, anti-evasion measures, credit matching and restrictions, scope of intermediary services, administering cross-charges and distribution of credit, implementing discount schemes and incentives, anti-profiteering aspects.
FICCI and Dhruva Advisors LLP organised an interactive webinar on "three years of GST and the way forward" with incisive and insightful comments of the panelists comprising:
CBIC Member (GST, IT & Tax Policy)
Shri D.P. Nagendra Kumar
Pr. Chief Commissioner, CGST
Mr. Rohan Shah
Partner, Dhruva Advisors
Dinesh Kanabar – CEO, Dhruva Advisors was the moderator of the panel.