Ahead of the budget, PwC and ET gauged the mood of the C-Suite on issues ranging from GST to tax administration and reforms to ease of doing business.
Ahead of the budget, PwC and ET gauged the mood of the C-Suite on issues ranging from GST to tax administration and reforms to ease of doing business. The survey of more than 200 CFOs and tax heads shows widespread appreciation for reforms and a positive outlook, but many feel bureaucracy and tax administration need to improve.
3 areas where immediate changes are needed to make GST a success?
IT infrastructure
Reducing multiplicity of rates
Simplifi ed compliance and return filings
What are the top three negatives?
Tax litigation
Lack of labour reforms
Multitude of changes and compliance obligations
What are the top 3 changes you'd like to see in coming years?
Faster resolution of tax disputes, including at the judicial level
Better implementation of new reforms
Infrastructure development
The tax environment in India has been a sore point with many business, including the multinationals. When this government came to power, its stated policy objective was to enable a stable tax environment with focus on resolution of disputes. It is clear the introduction of GST has been one of the government's biggest achievements. Furthermore, the reforms on ease of doing business have also been well received
ABHISHEK GOENKA,
partner and leader, corporate and international tax, PwC India
