”To begin with, getting a country the size of ours to do a complete transformation on the indirect tax front has been extraordinary in itself and something we should take a lot of heart from. What has been particularly encouraging is the continued commitment of the government to seek feedback from stakeholders on rules and processes and apply required corrections from time to time. However, the simplification of GST as a step towards making compliance simpler is still some distance away and one expects decisions to this effect to move faster. This is particularly important as one of the key learnings from the year gone by is that a semi-complete technical process, for eg. having GSTR 1 but no GSTR 2 is problematic both for the government as well as the taxpayer since compliance is not complete and confusion persists. The decisions for GST 2.0 have been taken and one is looking forward for its actualization so that the economic acceleration that GST is capable of can come alive”
