Trade Bodies Urge GST Act and Rule Simplification Ahead of GST Council Meeting

Trade bodies are urging the government to simplify the Goods and Services Tax (GST) Act and related rules ahead of the GST Council meeting scheduled for September 7. Various industry associations have raised concerns about the complexity of the current GST framework, particularly around compliance and filing requirements. They argue that the complexity leads to increased compliance costs and challenges for businesses, especially small and medium enterprises (SMEs). The trade bodies are advocating for a more streamlined process that would make it easier for businesses to comply with GST regulations, reduce the burden on the industry, and improve overall tax compliance. These demands are expected to be a significant part of the discussions at the upcoming GST Council meeting.