The Engineering Export Promotion Council (EEPC), India on Sunday proposed the introduction of a “faceless” GST audit system to spice up ease of doing enterprise within the nation.
The apex engineering exports promotion physique’s proposal comes following the profitable implementation of ‘faceless evaluation’ by the Revenue Tax division.
“The faceless GST audit system, by utilizing know-how and guaranteeing anonymity, will scale back compliance prices. A faceless system will streamline procedures permitting MSMEs to deal with development and innovation,” stated Pankaj Chadha, chairman of EEPC India.
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The proposal is part of EEPC India’s Finances 2025 advice.
By introducing a “faceless” GST audit system, India can additional enhance its rating within the Ease of Doing Enterprise index, making it a extra engaging vacation spot for international traders, it stated.
It additionally proposed that Reverse Cost Mechanism (RCM) associated liabilities needs to be eligible for the ‘Amnesty Scheme’ to deal with challenges confronted by exporters, who could also be unaware of international financial institution prices and international enterprise providers.
