In Gujarat, members of the business community, including a former president of the Gujarati Chamber of Commerce and traders association representatives, raised concerns regarding the Goods and Services Tax (GST). They called for several changes, including making Input Tax Credit (ITC) available for MSMEs in the construction sector and automating the credit process. A key demand was to increase the composition turnover limit from 1.5 crore and to raise the GST registration threshold from 20-40 lakhs. In response, a government representative acknowledged the suggestions, stating, "The first question and the second question have a common point that the ceiling for composition should be increased. I take that as a suggestion." The representative also highlighted existing measures to help small businesses, such as automated refunds and guaranteed registration within three days. #gst #gujarat #nirmalasitharaman #itwebvideos #msme #smallbusiness #traders #taxreform #itc #inputtaxcredit #gstindia #economy #easeofdoingbusiness #indianeconomy #taxation #gstcouncil
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