Govt to consider suggestions to eliminate tax-related bottlenecks

Expert panels to also identify problems in corporate laws, fin-sec laws, and MSMEs

The government will soon take up suggestions from chosen expert panels on elimination of regulatory bottlenecks related to income-tax, Goods and Services Tax, corporate laws, financial securities laws, and those related to micro,small and medium enterprises (MSME).

Led by Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion, a panel called the Better Regulatory Advisory Group (BRAG) has advised the formation of ‘sub-groups’ in the above said areas. The sub-groups will identify regulatory bottlenecks and the global best practices, and then submit their recommendations within two weeks. The BRAG is looking into issues aimed at improving regulatory processes to fast-track investments from domestic and foreign firms.