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AP Chambers hails GST reforms, demands rate cuts
In Short
In a statement on Friday, AP Chambers president Potluri Bhaskara Rao said the proposed reforms would particularly benefit micro, small and medium enterprises (MSMEs).
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AP Chambers hails GST reforms, demands rate cuts
Vijayawada: The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) has welcomed the recommendations of the 57th GST Council meeting, describing them as a major step towards simplifying compliance, reducing penalties and improving the ease of doing business.
In a statement on Friday, AP Chambers president Potluri Bhaskara Rao said the proposed reforms would particularly benefit micro, small and medium enterprises (MSMEs). He welcomed the removal of arrest provisions, the increase in the prosecution threshold from Rs 1 crore to Rs 5 crore, the reduction in general penalties from Rs 25,000 to Rs 10,000, and the introduction of a Rs 10,000 threshold for issuing show-cause notices.
Rao also appreciated measures aimed at speeding up GST refunds, including deemed acknowledgements in delayed cases, automatic refunds of excess cash-ledger balances and provisional sanction of 90 per cent of eligible refund claims. These steps, he said, would improve business cash flow. He welcomed the proposed expansion of Input Tax Credit (ITC) benefits to areas such as employee insurance, outdoor catering, telecom towers, pipelines, free samples and legally destroyed goods. Simplified registration procedures and intelligence-based inspections would further help businesses.
However, Bhaskar Rao urged the GST Council to rationalise tax rates in sectors such as food processing, fruit-pulp-based beverages, hospitality, textiles and garments. He said lower GST rates would support farmers, boost investment, reduce wastage and strengthen industry growth while promoting employment and tourism.
