(MC)
Ahead of the Budget, industry chamber CII today sought redressal of issues related to GST compliance including filing of returns, matching of invoices and getting timely input tax credit.
According to the chamber, simplification of Goods and Services Tax (GST) compliances would result in higher number of returns filed, increased collection of revenues, and easier working capital management by trade and industry. The GST Network (GSTN) functioning and return filing formats could be tweaked to ensure acceptance of invoices, it added.
CII also stressed upon the need for designing a fool- proof and effective return filing system where seamless and speedier input tax credit (ITC) can be availed by the recipient, as against the current requirement of filing three GST returns.
