Karnatak Chamber of Commerce and Industry welcomes GST Council meeting decisions
The GST Council meeting had rightly focused on ease of litigation and better working capital for businesses, says Karnatak Chamber of Commerce and Industry president Sandeep Bidasaria
The Karnatak Chamber of Commerce and Industry (KCCI) has welcomed the decisions made at the recent GST Council meeting chaired by Union Finance Minister Nirmala Sitharaman. The KCCI's president, Sandeep Bidasaria, highlighted the importance of the decisions in boosting business and trade, particularly the stability provided by keeping GST rates unchanged and reviewing them annually.
Bidasaria also praised the omission of the power of arrest under Section 69 of the CGST Act and the increase in the prosecution threshold, which he believes will help reduce disputes for small businesses. The KCCI welcomed various other provisions, such as relief on blocked input tax credit for certain categories and the waiver of late fees for businesses with a turnover up to ₹5 crore.
Brief written by urgent.news from The Hindu's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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