BENGALURU: The Karnataka Small Scale Industries Association (KASSIA) has welcomed the Next-Gen GST Reforms, which are aimed at making GST simpler, more efficient, and supportive of the ease of doing business, particularly for MSMEs that form the backbone of the Indian economy.
KASSIA president BR Ganesh Rao said the reforms are a welcome step towards building an Atmanirbhar Bharat. He noted that MSMEs will benefit from reduced compliance burdens, faster refunds and lower tax rates, enabling them to focus on growth, innovation and job creation.
The reforms also promise lower tax rates on essential raw materials and services, which will reduce input costs and make small industries more competitive. Sectors such as agriculture, healthcare and education are expected to gain from reduced GST burdens, encouraging entrepreneurship.
He added that KASSIA expects the next round of reforms to address issues concerning policy decisions on labour charges, timely refunds, the QRMP scheme, and rationalization of taxes on still highly taxed essential goods such as batteries.
The Karnataka State Hotel Association (KSHA) welcomed the GST reforms, which bring down taxes from 18 per cent to 5 per cent on room tariffs up to Rs 7,500, calling it a major relief for small and medium businesses in the hospitality sector.