The Goods and Services Tax (GST) has gone through several changes since its introduction, the latest revision being the reduction of rates on electric vehicles from 21 percent to 5 percent and from 18 percent to 5 percent for chargers and charging stations for such vehicles. However, as many as 61 percents of those surveyed felt that GST needs to be further simplified.
Experts say that even two years after GST was implemented, there are still issues with claiming refunds and mismatches in filed returns, with many businesses still not complying with the law due to a lack of awareness/ clarity on rules. As many as 28 percents of the respondents said they had gained from GST implementation, which is the ‘highest score for gain’ in the previous four surveys. However, an equal number said they had lost out as a result, with 35 percent saying nothing had changed for them as a result of the new tax regime.