AND THE ROAD AHEAD...

Further rationalisation of taxes:

The list of goods and services in the 28% tax bracket needs to be pruned. The 12% and 18% rate categories need to be converged into one. Cesses needs to be removed

Expansion of the GST horizon:

Some goods and services have to be brought into the GST ambit, like petroleum products, electricity and property

Simplification of return filing:

The final return filing mechanism is still one year away. The government has now dropped a hint that they may go for annual returns instead of monthly filings

Fine tuning of GSTN:

The GSTN must now shift its focus on improving user interface, improving of error messages and devising tools and methodologies to help tax authorities improve tax compliance