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GST in Transition: A look back at 2024 and what's ahead in 2025

With new regulations and potential adjustments on the horizon, 2025 promises to be another year of growth, reform, and modernization in India's GST journey, writes Nangia & Co LLP's Rakesh Nangia and Sivakumar Ramjee.
The article from CNBC TV18 discusses the GST transition in India, focusing on the expectations and reviews for the years 2024 and 2025. Rakesh Nangia, Managing Partner at Nangia & Co LLP, and Sivakumar Ramjee, Partner at Grant Thornton Bharat, provide insights into the GST regime's evolution. They highlight the need for simplification of the GST structure, addressing the complexities in compliance, and the anticipation of rate rationalization. The experts also touch upon the government's efforts to curb tax evasion through measures like e-invoicing and the potential introduction of a faceless assessment system. Expectations for 2025 include further streamlining of the GST framework, possibly reducing the number of tax slabs, and enhancing the ease of doing business by reducing litigation and improving dispute resolution mechanisms. The article underscores the ongoing dialogue between the government and stakeholders to refine GST to make it more efficient and taxpayer-friendly.

Read the Full cnbctv18 Article at:
[ https://www.cnbctv18.com/business/finance/gst-transition-2024-review-2025-expectation-rakesh-nangia-sivakumar-ramjee-19533838.htm ]