• Notification Date: 31-12-2024
• Notification No: N/A

EEPC India recommends faceless GST audit as a step toward improving ease of doing business and towards attracting global investors

To further ease India's business landscape and boost foreign investment, the Engineering Export Promotion Council (EEPC) India has proposed a faceless GST audit system. This is part of the Budget of EEPC 2025 suggestions aimed at streamlining the processes of business and improving the ranking of India in the Ease of Doing Business index. The proposal follows the success of the faceless income tax assessment system that has well reduced compliance burdens. According to Pankaj Chadha, Chairman of EEPC India, the faceless GST audit would ensure anonymity through technology to drastically reduce compliance costs. "By removing physical interactions and ensuring a seamless digital audit process, MSMEs can focus more on growth, innovation and overcoming market challenges," said Chadha. The proposed faceless system will change the game for businesses, especially for SMEs, which face the most complex tax audits. It will reduce bureaucracy and make the process more transparent, thus making it a more business-friendly environment, especially in the wake of India's ambitious push to become a global manufacturing hub. Apart from the faceless audit, the EEPC has also proposed that the RCM liabilities be brought under an Amnesty Scheme to help exporters who are facing hassles due to foreign bank charges and international business services. With these steps, EEPC India looks towards a time when India would become ever more attractive to foreign investment and thus a thriving destination for global trade and innovations.