Shri Pradeep Multani, President, Ph.D. The Chamber of Commerce and Industry has urged the GST Council to maintain the status quo in the GST rates for essential items with regard to the ongoing GST Council meeting.
We urge the Government to keep certain basic food items exempted from the GST structure, i.e., keeping these items under ‘Nil Tax’ to maintain the cost of the basic consumption basket of the households, said Mr. Pradeep Multani.
The items proposed to be upgraded in the category of 12% GST rate directly from Nil Tax rate should be rationalized and kept under the 5% rate slab, added Mr. Multani.
The rationalization of GST tax rates would create tremendous demand in the economy, subside the inflationary pressures and enhance the sentiments of producers, said Mr. Pradeep Multani.
The lower taxes are always good to enhance the tax base and tax to GDP ratio, said Mr. Pradeep Multani.
Going ahead, a level playing field for the industry would be crucial for the promotion of ease of doing business in the country, said Mr. Multani.
Enhanced ease of doing business, reduced costs of doing business, rationalization, and exemption of taxes would go a long way to enhance the capacity building and support the vision of becoming AatmaNirbhar in the coming times, said Mr. Pradeep Multani.
This article was shared with Prittle Prattle News as a Press Release.
