FICCI FLO, under the leadership of the 42nd National President, Ms. Poonam Sharma, organized a virtual session, “GST 2.0: From Complexity to Clarity,” to educate attendees regarding the latest GST 2.0 reforms introduced by the Indian Government. The informative session was led by CA Apoorva Kalra, Partner at Kalra Law Group, and CA T.M. Malavika, Partner at NRD Associates.
The virtual session is a part of the FLO Financial Literacy initiative, which helps women to gain knowledge and skills regarding personal finances, investments, and business capital. This initiative focuses on fostering financial independence and entrepreneurial success.
Key Takeaways
- As an indirect tax & compliance professional, Ms. Apoorva shared the details for the simplified rate structure and easy compliance, especially for MSMEs in India.
- Ms. Apoorva’s insights helped women entrepreneurs understand how to stay compliant and grow their businesses in India.
- CA T.M. Malavika shared information on sector-specific tax rates with the attendees. She shared details about sectors, such as textile, insurance, FMCG, healthcare, automobile, agriculture, renewable energy, and more.
- GST 2.0 reduced classification disputes and simplified return filing and refund processes for businesses, especially for MSMEs.
- The new reforms have lowered the rates on essential items and services like life insurance and certain healthcare items. It has helped citizens to access basic necessities more affordably.
Impact
Around 149 participants attended the engaging session on GST 2.0 reforms. It helped attendees understand how to pay the right tax smartly and grow their businesses. This session is a part of FICCI FLO’s commitment towards equipping women with financial knowledge.