AP Chambers of Commerce and Industry Federation president-elect G. Sambasiva Rao on Thursday welcomed the decision to rollout GST from July 1.
He was speaking at a workshop on GST that the new tax regime would benefit the trade despite lack of clarity in some areas. He hoped that high rate of taxation would be slashed in future.
SBI DGM Ajoy Kumar Pandit thanked the chambers for its initiative to create awareness among the people on the new tax regime. He also expressed satisfaction over the response of the people post-demonetisation.
Chartered accountant Ramakrishna Sangu advised the trade if someone had less than turnover of ₹75 lakh, it would be better to opt for composition scheme.