Chartered accountants have played a vital role to ensure successful implementation of the Goods and Services Tax (GST) system in India, said principal chief commissioner of Central GST and Customs, Pune zone, Mayank Kumar.
Kumar was speaking at the inauguration of a two-day national conference on GST ending Wednesday. The event was organised by the GST and indirect tax committee of the Institute of Chartered Accountants of India (ICAI) in collaboration with the ICAI Pune branch.
Kumar said the GST Council has consistently introduced amendments to streamline the system making the taxation more efficient. “Such conferences help CAs stay updated with the evolving framework,” he added.
Kumar said the GST Council reviews the tax regime every month. With GST collections rising significantly in recent months, changes to the tax structure have been made in a relief to small and medium enterprises and taxpayers. He also highlighted the increasing instances of irregularities in input tax credit claims and urged CAs to act as key gatekeepers in preventing such malpractices.
Source #TOI
