{"id":6824,"date":"2021-12-14T19:53:11","date_gmt":"2021-12-14T19:53:11","guid":{"rendered":"https:\/\/financeintellect.com\/home-page\/home\/?p=6824"},"modified":"2021-12-14T19:53:11","modified_gmt":"2021-12-14T19:53:11","slug":"phd-chamber-urges-gst-council-to-rationalise-gst-rates","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/phd-chamber-urges-gst-council-to-rationalise-gst-rates\/","title":{"rendered":"PHD Chamber Urges GST Council to rationalise GST Rates"},"content":{"rendered":"<p><span style=\"color: #000000\">New Delhi : PHD Chamber of Commerce and Industry has urged the GST Council to rationalise the GST rates in the forthcoming GST Council meeting.<\/span><\/p>\n<p><span style=\"color: #000000\">&#8220;Current GST rates are not in the sync with the demand creation and employment generation in the country. We urge the government to rationalise the GST rates into three major slabs of 5%, 10% &amp; 15% along with a few sin goods like alcohol, tobacco, fast foods etc in the slab of 28%,&#8221; \u00a0said Pradeep Multani, President, PHDCCI, in a release\u00a0here.<\/span><\/p>\n<p><span style=\"color: #000000\">Items in category of 12% rate should be reduced to 10% and items in the category of 18% rate should be reduced to 15%, Multani said.<\/span><\/p>\n<p><span style=\"color: #000000\">The items in 0 and 5% category should be kept as it is, he said adding that there should not be more than 25 items in the category of Sin Goods which is rated @28%.<\/span><\/p>\n<p><span style=\"color: #000000\">The rationalization of the tax slabs would create tremendous demand in the economy, subside the inflationary pressures and enhance the sentiments of producers for production and create employment opportunities for the growing workforce in the country, Multani opined.<\/span><\/p>\n<p><span style=\"color: #000000\">The lower taxes are always good to enhance the tax base and tax to GDP ratio, the PHDCCI President said.<\/span><\/p>\n<p><span style=\"color: #000000\">Going ahead, a level playing field for industry would be crucial for the promotion of \u00a0ease of doing business in the country, said Multani.<\/span><\/p>\n<p><span style=\"color: #000000\">Enhanced ease of doing business, reduced costs of doing business, rationalization of taxes, along with lesser compliance costs would go a long way to enhance the capacity building of the\u00a0country\u00a0and to become \u2018 Atma Nirbhar\u2019 (self dependent) in the coming times, Multani added.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi : PHD Chamber of Commerce and Industry has urged the GST Council to rationalise the GST rates in the forthcoming GST Council meeting. &#8220;Current GST rates are not in the sync with the demand creation and employment generation in the country. We urge the government to rationalise the GST rates into three major [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6712,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3833,1,8,6],"tags":[4324,41,4269,4253,4325],"class_list":["post-6824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate","category-economy-and-politics","category-india-inc","category-opinion-makers","tag-alcohol","tag-gst","tag-phdcci","tag-taxes","tag-tobacco"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PHD Chamber Urges GST Council to rationalise GST Rates - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/phd-chamber-urges-gst-council-to-rationalise-gst-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PHD Chamber Urges GST Council to rationalise GST Rates - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"New Delhi : PHD Chamber of Commerce and Industry has urged the GST Council to rationalise the GST rates in the forthcoming GST Council meeting. &#8220;Current GST rates are not in the sync with the demand creation and employment generation in the country. 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