New Delhi, Sep 25
Confederation of Indian Industry's (CII) Western Region President Rishi Kumar Bagla on Thursday said the recent Goods and Services Tax (GST) reforms have simplified tax filing for industries and will enhance ease of doing business in the country.
Speaking to IANS at a CII event in the national capital, Bagla said the government has undertaken two major changes under the new framework.
"First, the tax slabs have been reduced to two, making goods significantly cheaper and more affordable for consumers. Second, in GST 2.0, the government has further simplified the indirect tax system. This has simplified tax filing and will promote ease of doing business," he said.
The reforms, which came into effect on September 22, cut taxes on nearly 370 products, including daily essentials and life-saving medicines
According to the statement, these reforms will greatly increase domestic manufacturing and the demand for goods made in India, providing the Swadeshi movement with new impetus.