Tax practitioners to observe nationwide protest on Jan 29
Distressed by the unstable tax regime and multi-fold increase in compliance of multiple taxes by the government, the tax professionals will be observing a pan-India protest on January 29. The call for protest has been given by Western Maharashtra Tax Practitioners' Association (WMTPA). As more as 75 similar associations have supported the WMTPA's protest call.
image for illustrative purpose
Mumbai, Jan 23 Distressed by the unstable tax regime and multi-fold increase in compliance of multiple taxes by the government, the tax professionals will be observing a pan-India protest on January 29. The call for protest has been given by Western Maharashtra Tax Practitioners' Association (WMTPA). As more as 75 similar associations have supported the WMTPA's protest call.
Every year government increases the information to be provided in returns, thereafter every now and then there is a change in laws or regulations.
GST is one classic example where over 900 amendments, notifications and circulars have been issued since its launch in 2017 and has completely deviated from the purpose it was brought in. Moreover, the government departments do not release the forms and return filing utilities in time and many times there are errors in the utilities for which the government releases utilities again.
Many times, the tax filing sites which leads to pressure on the professionals and business to complete the work In a short span of time.
In addition, the government has increased the powers of the tax authorities and also the penalties and late fees for delayed filing and if any mistake is discovered in the return later in almost all the laws such as income tax, GST and Company Law.
"The government needs to be reminded of its promises made in 2014 and the never-ending support extended by the CAs and tax professionals in implementation of GST and the (so-called) tax reforms and apprise them off the fact that merely creation of new taxes and forms should not be considered as 'Tax Reform' and does promote the 'Ease of doing business' in India," CA Abhishek Aneja, a new Delhi-based tax expert told Bizz Buzz.
Moreover, a good and simple tax regime, which was promised by Modi Ji, has been delayed and depleted by frequent changes in law, systems and process. The tax revenue for the govt can only increase by providing a stable legal and compliance environment which will in fact lead to ease of doing business, he added.
