Firms seek reforms for GST efficiency

Indian businesses are pitching for more reforms to improve the efficiency of goods and services tax (GST), even as they agree that the unified regime has transformed indirect tax administration over the past eight years, according to a survey.

- Gireesh Chandra Prasad

Better dispute settlement, rationalizing rates and faster refunds are among the priorities they highlighted, found the survey of 960 leaders from across the industry conducted by Deloitte India.

After widespread technology adoption in the tax ecosystem, they are asking for "thoughtful refinements" to further improve the GST portal's efficiency, the survey said.

As high as 85% of respondents, representing small and large corporations, highlighted a positive experience during their eight-year GST journey, the fourth edition of Deloitte's annual GST survey showed.