In view of government schemes, India’s position in doing business has improved from 142 in 2014 to 63 in 2022. The government is now planning to integrate the different identities of businesses into a single identity, the PAN card. The reports also suggest that govt. may amend the Finance Act to introduce this provision and give it legal backing. The intent is to optimize the operations and allow better data sharing.
Business Standard has done a detailed report on this initiative in an interview, where Mitesh Jain, Partner, Economic Laws Practice (ELP) has shared his views on how it will impact the businesses and reduce the burden of compliance.
Click here to see the interview: https://lnkd.in/d-zzAVCS