EEPC India advocates for Faceless GST Audit System to boost Ease of Doing Business:

EEPC India advocates for Faceless GST Audit System to boost Ease of Doing Business In line with the effective implementation of the faceless assessment by the Income Tax department, the Engineering Export Promotion Council (EEPC) India has proposed to the government to roll out a faceless GST audit focusing on empowering the MSME sector and to ease of doing business in the country. "The faceless GST audit system, which uses technology to ensure anonymity, would save compliance expenses. A faceless system will streamline operations, enabling MSMEs to focus on growth and innovation," said Pankaj Chadha, chairman of EEPC India. In its pre-budget recommendation, EEPC India requested that Reverse Charge Mechanism (RCM)-related liabilities be eligible for the Amnesty scheme. Some RCM concerns, like as international bank charges and foreign business services, provide challenges for exporters who may be unaware of the rates or services offered. Because these issues are not fraudulent, they should be addressed under Section 73, which deals with legitimate compliance concerns. Many EEPC India members have reported receiving Show Cause Notices relating to RCM; hence, an amnesty scheme is urgently required for such concerns. By implementing a "faceless" GST audit system, India can enhance its standing in the Ease of Doing Business index, making it a more appealing place for foreign investors, it stated.