Industry must do some advocacy with States too, says Revenue Secretary Sanjay Malhotra
The Finance Ministry on Friday urged industry to do some advocacy with the States to help resolve their concerns around multiple assessments and audits under the Goods and Services Tax (GST) framework.
On its part, the Revenue Department would also talk to States to see how industry concerns could be addressed on this front, a top Finance Ministry official said.
Although GST has been touted as a ‘One Nation One Tax’, the ground reality for corporates with pan-India operations is that they are subjected to assessments and audits of 30 different States (depending on place of business activity), complicating their compliance efforts.
“On GST, we have in recent years taken a big leap. But still with 30 States, there are 30 taxes. So You (industry) now have multiple registrations and assessments at each State because there are 30 taxes.
“Now how do we reduce from 30 to one. Like it bothers you, it bothers us also. we need a collaborative approach with all the States.
