In the discussion on the proposed Union Budget 2025-26, traders submitted many suggestions to MP Shankar Lalwani. Traders and tax practitioners demanded reforms on the complexity of the income tax system in GST.
MP Shankar Lalwani was the chief guest in the discussion organized by Ahilya Chamber of Commerce and Industry, Madhya Pradesh Tax Law Bar Association and Commercial Tax Practitioners Association.
Advocate Ashwin Lakhotia, President of Tax Law Bar Association, said in the context of the expected reforms in GST, the government has made the GST law and the provisions, rules and functioning of the portal so complicated that the life of the taxpayer is ending in compliance with GST.
The government will have to simplify the tax slab. It has to be ensured that as many goods and services as possible remain in 1 or 2 tax slabs. It is necessary to have a system on the common portal that the businessman should deposit as much money as he has available as per the time so that interest and penalty can be avoided. Some written suggestions were also given to the MP.
Issue of opening GST tribunal raised
Ahilya Chamber of Commerce President Ramesh Khandelwal said, Indore has the highest number of registered taxpayers in the state. Income Tax, Commercial Tax and Company Law Tribunals and High Court Bench are functioning here respectively. In such a situation, there is a request to open a GST Tribunal here.
Talk on anomalies of Income Tax Act
CA Rajesh Mehta gave written suggestions regarding the anomalies of Income Tax Act. Regarding making the Vishwas Scheme implemented for dispute settlement successful, he said, such cases which are pending in appeal should be resolved at the same level on the interest/penalty point so that there is convenience in depositing the remaining tax as per the rules of the scheme.
MP Shankar Lalwani Expresses Regrets
Lalwani said, “I am sorry that the state government did not send a proper proposal. MP Shankar Lalwani said, there is a question of opening a GST tribunal in Indore, this is a right demand. I met the Union Finance Minister and placed the demand, but it was not possible due to the state government not sending a proper proposal, I am sorry for this. For this, I will soon meet Finance Minister Jagdish Devda. I will also place proposals for reforms in GST and Income Tax laws before the Central Government.”
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