AP Chambers welcomes two-slab GST system, says it reduces compliance burden

The EP Trade and Industry Federation (AP Chambers) welcomed the central government’s proposal to progress towards a two -storey GST structure and said it would be an important step for simplification, transparency and productivity in the taxation system.

“A very needed reform that promises to reduce compliance burden and clarify the tax regime,” he said in a press release, AP Chambers President Potluri Bhaskara Rao said in a press release.

Mr. Bhaskara Rao said that EP rooms demanded that the EP rooms to rationalize GST signs from the center and reduce the plate rates for key sectors, and insist that a simplified GST with a less -proportion plate will reduce MSMEs, especially classification agreements, reduce operational costs and increase the increase.

“Reform comes at a very important time for the MSME sector, which is under significant difficulty due to increasing input costs, regulatory challenges and market vagarians,” he said.

In addition, Mr. Bhaskara RAO called the central government to place critical sectors such as food processing, textiles, handicrafts and rural industries under 5% lower GST signs to support employment, purchasability and rural development.

He observed that a simplified GST structure could pave the way for a more balanced and robust economy when combined with the sector -sensitive taxation.

“AP Chambers, the new GST structure will not only simplify taxation, but also think that India, which is the engines of creating business, will strengthen its small businesses and strengthen for the future,” Bhaskara Rao said.