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AP Finance Minister Payyavula Kesav Proposes Key GST Reforms at 55th Council Meeting

Rajeshwari R by Rajeshwari R
December 22, 2024
in Politics
Reading Time: 3 mins read
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AP Finance Minister Payyavula Kesav Proposes Key GST Reforms at 55th Council Meeting

AP Finance Minister Payyavula Kesav Proposes Key GST Reforms at 55th Council Meeting

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Andhra Pradesh Finance Minister Proposes Key GST Reforms at 55th GST Council Meeting

In the 55th GST Council meeting held on Saturday in Jaisalmer, Rajasthan, Andhra Pradesh Finance Minister Payyavula Kesav presented several significant proposals aimed at addressing the state’s financial needs and reforming the GST structure. His suggestions focused on aiding flood-affected regions in Andhra Pradesh, promoting innovation, and enhancing transparency within the GST framework.

Kesav proposed the introduction of a 1% “AP Flood Cess” on goods falling under GST slabs above 5%, specifically for transportation within Andhra Pradesh. This cess, which would not burden the poor or middle-class citizens, is designed to raise funds for flood relief and rehabilitation efforts. Kesav pointed to Kerala’s implementation of a similar cess following the 2018 floods as a precedent.

In addition, Kesav called for an exemption from GST on research services conducted by both public and private institutions to encourage innovation. He also suggested a reduction in GST rates for fortified rice distributed to the poor through ration programs, aiming to make essential goods more affordable for vulnerable populations.

The Finance Minister highlighted the need for greater transparency in the IGST settlement system and advocated for increased access to relevant data for states. He also proposed simplifying GST registrations through the use of technology as part of the “Ease of Doing Business” initiative and recommended measures to combat bogus registrations.

Kesav further suggested exempting small traders and composition GST taxpayers from the reverse charge mechanism (RCM) on rental payments, making it easier for them to comply with tax regulations.

The Finance Minister’s address, which focused on the state’s immediate needs as well as long-term reforms, was met with praise from his counterparts in other states for its clarity and focus. The GST Council, acknowledging the input from Andhra Pradesh and other states, decided to form a Cabinet sub-committee to review these proposals.

Kesav expressed his gratitude to Union Finance Minister Nirmala Sitharaman for promptly setting up the committee. He was accompanied at the meeting by Andhra Pradesh Principal Secretary of Finance Piyush Kumar and Commercial Taxes Chief Commissioner Ahmad Babu.

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