Page 63 - Mann Ki Baat English

Fourth, the creation of a
specialised quasi-judicial body,
the GST Appellate Tribunal
(GSTAT), will reduce the time
and cost of settlement of
disputes for the taxpayers
and reduce the burden on an
already overburdened judiciary.
GSTAT's structure, comprising
judicial and technical members
from both central and state
administrations, ensures
consistent interpretation of tax
provisions across jurisdictions.
This ‘One Nation, One monitoring capabilities and
Forum’ approach eliminates reduced administrative
jurisdictional inconsistencies expenses.
that generated conflicting The efficiency gains
rulings on identical issues. from GST 2.0 represent a
Fifth, the procedural permanent enhancement to
enhancements and process India's productive capacity
reforms introduced will further rather than a temporary
amplify efficiency gains. GST
consumption stimulus. While
registration has been simplified
price reductions provide
for low-risk applicants, with
immediate relief to consumers,
approval granted in three
the elimination of structural
days (covering 96 per cent of
inefficiencies in the tax system
applicants), down from 7-30
creates compounding benefits.
days earlier, through Aadhaar-
based verification. This has The consolidation of slabs,
been accompanied by stricter elimination of classification
timelines for tax authorities anomalies, and enhancement of
for processing of refunds. This dispute resolution mechanisms
is accompanied by AI-driven collectively create a taxation
audits, which improve input tax system that supports rather
credit flows and reduce costs than hinders economic and
associated with tied-up capital. administrative efficiency.
The integration of technology
with simplified processes
(Sanjeev Sanyal is Member,
furthers efficiency gains.
Economic Advisory Council to the
Businesses benefit from
Prime Minister. The views expressed are
reduced compliance costs while
personal)
tax authorities achieve improved
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