CII pointed towards streamlining the GST structure by pruning the tax to a three-rate structure, with a standard rate for most goods, a low rate for essential goods, and a high rate for luxury and demerit goods.
CII proposed extending the last date of the concessional rate of 15 percent tax for eligible manufacturing units to March 31, 2025. The industry body also recommended expanding the PLI (production linked incentive) scheme to labor-intensive sectors, such as apparel, toys, and footwear to boost employment generation.
The CII recommended reducing tax litigations by improving dispute redressal mechanisms such as the Faceless Appeals, Advance Pricing Agreement (APA) mechanism, Board for Advance Ruling (BAR), and Dispute Resolution Scheme (DRS).
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