Indian businesses grappling with high GST (Goods and Services Tax) demand notices can breathe a sigh of relief. The government has taken steps to address these concerns, aiming to provide some much-needed support to the industry.
The initiative involves a crackdown on the Directorate General of GST Intelligence (DGGI)-Central Board of Indirect Taxes and Customs (CBIC). The government has reportedly pulled up these departments for issuing excessive demand notices. These notices can create a significant financial burden for businesses, hindering their operations.
This move by the government suggests a shift in focus towards a more collaborative approach. The aim is to ensure proper implementation of GST while minimizing disruption for businesses. This can be achieved through better communication, clear guidelines, and a more balanced approach to tax collection.
Source: CNBC TV18