Hyderabad, Sep 5 (UNI) The 108-year-old Federation of Telangana Chambers of Commerce and Industry (FTCCI) today hailed the sweeping GST rate rationalisation announced at the 56th GST Council Meeting, describing it as a “milestone towards a simpler and more inclusive tax regime.”
Talking to the media, FTCCI President R Ravi Kumar said merging the 12 per cent and 28 per cent slabs into 5 per cent and 18 per cent categories marked a long awaited structural reform.
He applauded the relief measures, including GST reduction on cement, textiles, fertiliser inputs, and consumer essentials, besides incentives for MSMEs, exporters, and services.
However, the chamber flagged key concerns, notably the sharp hike in GST on coal from 5 per cent to 18 per cent, the continued exclusion of petroleum products from GST, and the break in input tax credit flow for hotels.
FTCCI urged the Centre to publish a timeline for bringing petrol, diesel, ATF, and natural gas under GST, rationalise the compensation cess on coal, and allow dual rate options with Input Tax Credit (ITC) for B2B transactions. It also sought timely clarifications on revised GST slabs to avoid litigation.
Founded in 1917, FTCCI represents over 3,000 members and 100 trade bodies, making it one of India’s oldest and most influential regional chambers.
