Easing GST Compliance: ICAI’s Suggestions on Practical Challenges After 8 Years of Implementation

The Institute of Chartered Accountants of India (ICAI), a statutory body established by an Act of Parliament, namely the Chartered Accountants Act, 1949, has released the Suggestions on Practical GST Challenges.

It’s been eight years since GST was established. Since then, numerous taxpayers have faced practical challenges in key areas such as registration, refunds, input tax credit and tax demands. The department invited recommendations from individuals all over the country engaged in guiding and supporting the taxpayers with GST compliance to understand a comprehensive view of the ground-level GST-related challenges faced by taxpayers. These suggestions were then deeply examined by the committee to implement necessary changes in the GST rules.

These present “Suggestions on Practical GST Challenges” are being released by the GST and Indirect Taxes Committee of ICAI, addressing these practical difficulties faced by taxpayers under GST. Key recommendations mentioned in it relate to changes in Adjudication & Enforcement, Input Tax Credit (ITC), Registration, Refunds, Returns and E-Way Bill, etc.

Refer to the official PDF for complete information.