85% Of Indian Entrepreneurs View GST Favorably, But Push For Further Reforms Continues: Deloitte Survey

2025-06-26 02:23:28

(MENAFN- KNN India) New Delhi, Jun 26 (KNN) Despite lingering issues with GST refunds and registration, Indian entrepreneurs have shown a marked increase in confidence in the Goods and Services Tax (GST) regime over the past eight years, according to a recent survey conducted by Deloitte.

The survey reveals that 85 percent of entrepreneurs now hold a positive view of GST, a significant jump from 59 percent in 2022.

Business leaders across small, medium, and corporate segments believe the tax reform has streamlined compliance, reduced paperwork, and improved overall ease of doing business compared to the pre-GST era.

Many also noted that GST has enhanced their competitiveness in both domestic and international markets.

The number of entrepreneurs who consider GST ineffective has also declined-from 10 percent in 2022 to just 5 percent in the latest survey-indicating a broader acceptance of the system, despite some operational difficulties.

However, respondents pointed to areas requiring urgent attention.

Key recommendations include faster processing of GST refunds, rationalisation of tax rate slabs, correction of the inverted duty structure, simplification of the registration process, and the creation of a more robust dispute resolution mechanism.

The findings reflect growing maturity in the GST ecosystem, coupled with a clear call from businesses for policy refinements to ensure long-term efficiency and inclusivity.

(KNN Bureau)

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