Andhra Pradesh Chambers welcomes two-slab GST structure
In a release on Saturday, AP Chambers president Potluri Bhaskara Rao and generals secretary B Rajasekhar stated that the move marks a step towards simplification, transparency, and efficiency in tax system.
'It is a much-needed reform that promises to reduce compliance burden and bring clarity to the tax regime. AP Chambers, for many years, has been requesting the Union government to rationalise the GST slabs and bring down the slab rates for key sectors. A simplified GST with fewer rate slabs will not only ease tax compliance for businesses, especially MSMEs, but also reduce classification disputes, promote consistency, lower operational costs, and enhance revenue predictability,' the release said.
The AP Chambers observed that the reform comes at a crucial time for the MSME sector, which has been under distress due to rising input costs, regulatory challenges, and market uncertainties. Critical sectors like food processing, textiles, handicrafts, and rural industries should be included in the 5% GST slab to further support employment, affordability, and rural development.
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