Industry chambers push for GST 2.0 reforms to ease tax credit, cut disputes

Industry chambers are advocating for GST 2.0 reforms aimed at improving input tax credit mechanisms and simplifying compliance processes. Key demands include expedited refund processing, expanded ITC eligibility, and reduced litigation through better system automation.

Businesses also seek an upgraded GST system to alleviate working capital constraints, particularly for small enterprises facing registration and return filing burdens. Real estate developers are pushing for clarity on ITC rules and faster credit releases to improve project viability and cash flow.