The Goa Chamber of Commerce and Industry (GCCI) has called for simpler Goods and Services Tax (GST) compliance procedures and regulatory reforms to support micro, small and medium enterprises (MSMEs) and exporters in Goa.
Speaking at a seminar on the 57 GST Council decisions and the latest Foreign Exchange Management Act (FEMA) Regulations for the export and import of goods and services, 2026, GCCI president Pratima Dhond stressed the need for businesses to understand regulatory changes and their implications for working capital, cash flows and business expansion.
Addressing senior officials from the office of the Commissioner of Central Goods and Services Tax (CGST), Dhond urged the government to simplify procedures, reduce avoidable litigation and ensure timely, clear communication of regulatory changes. She also highlighted the need for guidance to help MSMEs navigate the new FEMA framework as they explore export opportunities, imports and overseas ventures.
CGST Commissioner Subodh Singh assured industry representatives that the department would organise capacity-building programmes and interactive sessions for businesses and tax professionals over the next 100 days. He said GST had largely evolved towards a two-rate structure, while measures relating to simplified registration for small taxpayers, input tax credit, working capital and rationalised penal provisions reflected a trust-based approach to compliance.
Singh also described the steady growth in GST collections despite global economic challenges as a positive indicator. He assured participants that concerns raised during the seminar, including those relating to refunds, export-import transactions and the transition to amended statutory provisions, would be examined.
The seminar was attended by corporate tax and finance professionals, chartered accountants, company secretaries, tax practitioners and industry representatives, providing a platform to discuss regulatory developments and their impact on businesses.