Abstract

India is moving towards the fourth anniversary of Goods and Services Tax (GST), since its roll out on 1st July, 2017. In the post lockdown period in 2020-21 the country noticed record-high GST collections, may be due to the steady revival of economic activities post lockdown. Like the previous years, this year also the finance minister has taken several measures to further simplify the GST to provide relief from the pandemic. Despite the thorny issues faced under the GST regime, focus has been kept on smoothening the GST structure and removing anomalies, rather than on introducing further taxes to compensate for collection shortfalls. Though industry has greeted the amendments but there are certain provisions that has made industry worried. The appropriate authority should take necessary steps to protect the interest of genuine and honest taxpayers and improve ease of doing business in India.