Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) wrote to the Chairperson of the GST Council, Nirmala Sitharaman, requesting her to refrain from introducing new GST slab rates. Increased rates can adversely impact businesses, the Chambers said in the letter.
AP Chambers president Potluri Bhaskar Rao, on Tuesday, December 17, said that it was a matter of concern to see recent media reports that suggest the committee recommending a fresh slab attracting a rate of 35% for certain products. It goes against the grain of GST simplification and rate rationalisation. It not only leads to higher evasion and litigations but also fuels the growth of a parallel economy that encourages illicit markets and smuggled goods. Higher taxes also lower consumer demand, particularly during times of economic stress leading to loss of livelihoods, he said.
Read more at: The Hindu
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