GCCI Submits Comprehensive GST Reform Proposals to Goa CM Before Council Meeting
The Goa Chamber of Commerce & Industry (GCCI) has submitted a comprehensive memorandum to the Chief Minister of Goa, Dr. Pramod Sawant, detailing key recommendations for reforms in the Goods and Services Tax (GST) regime. This submission comes ahead of the upcoming GST Council meeting, aiming to address industry-specific challenges and simplify compliance.
The memorandum, presented by GCCI President Shrinivas Dempo, focuses on improving the ease of doing business and addressing issues faced by sectors such as tourism, exports, IT, and real estate. The proposals are designed to reduce the tax burden, correct inverted duty structures, and enhance overall industry sentiment.
Key proposals include:
Rate Rationalisation with a phased roadmap to reduce tax burden and correct inverted duty structures. Revision Facility for GST returns to avoid litigation. Refund of GST on Capital Goods for exporters. Uniform 12% GST Rate for all hotel accommodations and input tax credit for standalone restaurants. Input Tax Credit on Hotel Construction, including home-stays and warehousing. Reforms in Real Estate, addressing issues in joint development agreements and taxation of long-term leases. Simplified GST Returns (GSTR-9 & 9C) to reduce compliance burden. Clarification on ITC for Promotional Goods. Enhanced GSTN Portal Features for better reconciliation. Interest Liability Relaxation on ITC reversal beyond 180 days.
GCCI also emphasized the need to resolve inverted duty structure issues to ease working capital constraints and boost industry sentiment. Shrinivas Dempo expressed confidence that the Hon. Chief Minister would champion Goa’s voice in the Council and reiterated GCCI's commitment to supporting the government in refining and implementing these reforms.
The memorandum was handed over in the presence of CA Rohan Bhandare, Chairman of GCCI’s Taxation & Financial Services Committee, and Sanjay Amonkar, Director General of GCCI. These reforms are expected to significantly benefit various sectors and contribute to the overall economic growth of Goa.
