Commerce Ministry Invites Industry Inputs To Reduce Compliance Burden

New Delhi, Jan 2 (KNN) The Ministry of Commerce and Industry has urged export promotion councils and various industry bodies to provide specific insights, aimed at reducing regulatory compliances and further streamlining processes, as per reports.

This directive aligns with the government's ongoing commitment to enhancing the ease of doing business and continuously lessening the compliance burden for a favourable business environment, according to sources, reported businessline.

Industry sources indicate that the ministry is seeking inputs from export bodies on matters related to the Directorate General of Foreign Trade, Customs authorities, the RBI, CBIC (Central Board of Indirect Taxes and Customs), and the GST regime.

Once received, these inputs will be processed by the government, leading to modifications in policies and procedures, as stated by a reliable source, a source told businessline.

An official from an exporters' body emphasises their role in suggesting further simplification of processes, identifying areas suitable for self-certification, and proposing reduced documentation requirements.

The government's overarching goal, as outlined by Minister of State for Commerce Som Parkash in a recent Parliament reply, is the simplification of procedures related to applications, renewals, inspections, and filing records.

Additionally, he stated, the focus extends to rationalisation by repealing, amending, or consolidating redundant laws, digitisation through online interfaces, and the decriminalisation of minor technical or procedural defaults.

The Department for Promotion of Industry and Internal Trade (DPIIT), the industry arm of the Commerce and Industry Ministry, has been actively assessing the cost of regulations in states to provide insights into potential reforms.

DPIIT has already initiated the removal or simplification of several obsolete provisions.

(KNN Bureau)