Latest news with #BhaskaraRao
The Hindu
3 days ago
- Business
- The Hindu
AP Chambers welcomes two-slab GST system, says it reduces compliance burden
The AP Chambers of Commerce and Industry Federation (AP Chambers) has welcomed the Central government's proposal to move towards a two-slab GST structure, saying that it will be a significant step towards simplification, transparency, and efficiency in the taxation system. 'It is a much-needed reform that promises to reduce compliance burden and bring clarity to the tax regime,' AP Chambers president Potluri Bhaskara Rao said in a press release. Mr. Bhaskara Rao said that the AP Chambers had been requesting the Centre to rationalise the GST slabs and bring down the slab rates for key sectors, insisting that a simplified GST with fewer rate slabs would not only ease tax compliance for businesses, especially the MSMEs, but also reduce classification disputes, promote consistency, lower the operational costs, and enhance revenue predictability. 'The reform comes at a crucial time for the MSME sector, which has been under considerable distress due to rising input costs, regulatory challenges, and market vagaries,' he said, adding that the new tax system provided a big relief to the MSMEs, enabling them to recover and grow. Besides, Mr. Bhaskara Rao urged the Central government to place critical sectors such as food processing, textiles, handicrafts, and rural industries under the lower 5% GST slab to support employment, affordability, and rural development. A simplified GST structure, combined with sector-sensitive taxation, could pave the way for a more balanced and robust economy, he observed. 'The AP Chambers opines that the new GST structure will not only simplify taxation but also ensure that India's small businesses, which are the engines of job creation, are empowered and strengthened for the future,' Mr. Bhaskara Rao said.
Hans India
04-07-2025
- Business
- Hans India
AP Chambers launches Business Excellence Awards
Vijayawada: The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) on Thursday officially launched the 'AP Chambers Business Excellence Awards 2025' with a curtain-raiser event here. The awards aim to recognize and celebrate outstanding achievements in various sectors across Andhra Pradesh's vibrant business landscape. Minister for housing and information and public relations Kolusu Parthasarathy, minister for mines, geology and excise Kollu Ravindra and NTR district collector Dr G Lakshmisha, Dr Gokaraju Ganga Raju, former MP, Vijayawada former mayor Dr Jandhyala Shankar and and Muthavarapu Murali Krishna, former president of AP Chambers attended the meeting. During the event, Parthasarathy unveiled the audio visual (AV) for the awards, while Ravindra unveiled the awards brochure, and Dr G Lakshmisha unveiled the official logo. President of AP Chambers Potluri Bhaskara Rao elaborated on the rationale behind instituting these awards. 'After the bifurcation of Andhra Pradesh, there was no exclusive business awards event to recognise and reward entrepreneurs from our State,' Bhaskara Rao stated. 'In view of this, AP Chambers has instituted these prestigious annual awards to celebrate excellence, innovation, and entrepreneurship.' The awards will honour contributions in diverse categories including MSME, Large Industries, Start-ups, Exports, Food Processing, Tourism & Hospitality, Textiles, Automobiles, Logistics, Infrastructure and Real Estate, Circular Economy, CSR, and Women Entrepreneurship. A special 'Life-time Achievement' category will also be conferred upon an entrepreneur who has demonstrated sustained success. Bhaskara Rao further clarified that the awards are exclusively for companies located or registered in Andhra Pradesh. B Raja Sekhar, general secretary of AP Chambers, announced that the winners will be felicitated at a grand gala ceremony on August 30 in Vijayawada. Enterprises registered or operating in Andhra Pradesh are eligible to file nominations by visiting the official website: The deadline for submission of nominations is July 30, 2025. For further information regarding the AP Chambers Business Excellence Awards 2025, interested entrepreneurs may contact the office at 91212 21473, 91212 21474, and 99120 92222.
Hans India
08-05-2025
- Business
- Hans India
AP Chambers welcomes India–UK free trade agreement
Vijayawada: AP Chambers's president Potluri Bhaskara Rao has welcomed the successful conclusion of the India–UK Free Trade Agreement, calling it a historic step towards boosting exports, generating employment, and accelerating India's economic growth. Speaking to media here on Wednesday Bhaskara Rao said that this FTA offers zero-duty access to 99 per cent of Indian exports, opening up major opportunities for sectors crucial to Andhra Pradesh, including textiles, pharma, leather, marine products, engineering goods, and food processing. Most of the sectors have been struggling for the past couple of years due to world recession and Russia-Ukraine war. This deal will significantly enhance economic activity and global competitiveness of our MSMEs and exporters. He particularly highlighted the benefits in services, noting that India has secured strong commitments in IT, professional, and educational services, with eased mobility for professionals and a three-year exemption from UK social security contributions, making Indian service providers more competitive. This will open plenty of opportunities to AndhraPradesh's professionals and youth.
