Most top-level executives have positive GST perception: Survey

According to a Deloitte survey, an increasing number of C-suite executives are viewing GST positively, with many emphasizing further reforms such as rationalizing tax rates and improving dispute resolution processes to usher in GST 2.0.

The Deloitte GST@7 survey engaged C-suite and C-1 level executives across diverse industries through online platforms, revealing growing confidence in GST. In 2024, 84% of respondents reported a positive perception of GST, up from 72% in 2023 and 59% in 2022. Key factors contributing to this confidence include the role of GST automation and technology in enhancing tax compliance, particularly e-invoicing, and a consultative environment in policy making.

The survey also identified areas needing further reform, including rationalizing tax rates, improving dispute resolution mechanisms, easing credit restrictions, implementing faceless assessments, liberalizing export rules, and establishing a compliance rating system. Deloitte India surveyed to mark seven years of GST implementation, capturing India Inc.'s perspectives on this transformative tax reform.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.