According to the article, industry representatives have been advocating for changes in the GST structure to simplify compliance procedures and reduce the tax burden on businesses. They argue that the current system is complex and time-consuming, leading to compliance challenges for companies.
One of the key proposals put forth by industry bodies is the implementation of an amnesty scheme. This scheme aims to provide a one-time opportunity for taxpayers to settle their pending tax disputes by paying a reduced penalty or interest. It is believed that such an initiative could help in resolving long-pending disputes and provide relief to businesses.
The article emphasizes the importance of addressing these concerns and bringing about reforms to enhance the ease of doing business. It highlights the need for the government to consider industry recommendations and engage in constructive dialogue to improve the GST system.
In conclusion, the article sheds light on the industry's call for GST reforms and an amnesty scheme to tackle tax disputes. It underlines the significance of streamlining the GST structure to foster a conducive business environment in India.
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