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Showing posts from July 1, 2019

Birthday Wishes: Industry Wants It Simpler and All-Encompassing

Next Growth Level Industry associations CII and Ficci call for a single central registration process against the current procedure at both the Centre and state levels. Indian industry bodies have pitched for a GST 2.0 with fewer slabs and more sectors including oil and gas, electricity and real estate with simpler registration and filing processes on the two-year anniversary of the introduction of the goods and services tax."GST 2.0 will take the Indian economy to the next growth level,” said Confederation of Indian Industry (CII) President Vikram Kirloskar. The industry also pressed to bring in all sectors under GST. “The most critical action would be to ensure ‘one nation, one tax’ by including all sectors under the ambit of GST,” said the Federation of Indian Chambers of Commerce and Industry (FICCI) .
The CII also echoed this calling for the inclusion of electricity, oil and gas, real estate and alcohol under GST “at the earliest” to allow for seamless availability of input tax…