Govt plans to simplify companies law, says Goyal

Finance Minister Piyush Goyal said today that the Centre is looking at simplify the companies law to provide relief to businesses.

At a meeting with businessmen here, he said the government is of the view that they should not face legal problems and prosecution except for matters of serious nature.

Goyal, who is also the corporate affairs minister, said that the former Congress-led government had imposed many such provisions and now the government wants to amend the law.

Terming the Goods and Services Tax (GST) an honest system , Goyal said that businesses will feel in the time to come that they have become a part of an honest system for taxation.

The minister also assured them that ease of filing tax returns, ease of assessment and other such issues will be discussed in the next GST council meeting.

He sought suggestions on GST from them in the meeting which was attended by Rajasthan Chief Minister Vasundhara Raje.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)