CII Proposes GST Reform and Joint Skills Development Fund

Quick summary

• The Confederation of Indian Industry (CII) has proposed rationalizing Goods and Services Tax (GST) rates to simplify the tax regime.
• CII suggested setting up a joint skills fund, aiming to promote skill development across industries.

Indian Opinion Analysis
CIIS recommendation for GST rate rationalization reflects ongoing calls from industry leaders for simplifying compliance in India’s tax framework, potentially benefiting businesses and improving ease of doing buisness by reducing complexities. Regarding the joint skills fund proposal, it highlights the critical need to address skill gaps in India’s workforce, which can enhance productivity and competitive advantage across sectors. both measures align with aspirations to stimulate economic growth through structural reforms while ensuring workforce readiness for future challenges.Read More