PCCI Organised Landmark Seminar on “Next Generation GST Reforms- GST 2.0”

PCCI Organised Landmark Seminar on “Next Generation GST Reforms- GST 2.0” 

Chandigarh 13 September ( Ranjeet Singh Dhaliwal ) : The Punjab Chamber of Commerce and Industry (PCCI) orchestrated a highly impactful and forward-looking seminar on "Next Generation GST Reforms-GST 2.0," which took place today at Chandigarh. The event was generously sponsored by Trident Group, a global leader in Home Textiles renowned for its expansive international presence and commitment to industry excellence. Drawing an esteemed gathering of over 100 trade members, leading professionals from ICSI, ICAI, ICMA and senior government officials, the event marked a significant step toward shaping a more robust, transparent, and growth-driven Goods and Services Tax (GST) framework for India’s future. The seminar was graced by the presence of several eminent Guest of Honour i.e. Sh. Rajan Datt (IRS) – Commissioner, Central GST Prayagraj and Member, Law Committee, Sh. H.B. Negi – Hon’ble Member, GST Appellate Tribunal, Baljit Khara Retd (IRS) Assistant commissioner, Mr. Deepak Nanda MD- Trident Limited, Sh. Dalip Sharma, Secretary General- PCCI. The seminar’s keynote session was led by CS Sanjay Malhotra, a renowned Indirect Tax Expert, who brought his hallmark clarity and insight to the discourse on GST reforms. CS Malhotra meticulously unpacked the newest proposals stemming from the 56th GST Council Meeting, providing attendees with practical guidance and forward-looking perspectives. In his address, CS Malhotra spotlighted the upcoming GST 2.0 framework, which is poised to introduce a suite of structural reforms set to redefine India’s indirect tax regime. Among the highlights, he detailed the pivotal initiatives on Structural Reforms, rate Rationalization, simplified compliance measured and provisional refunds with 90% to be processed within 7 days from acknowledgement. CS Sanjay Malhotra emphasised that these measures will have a far-reaching impact on the Indian business ecosystem. “GST 2.0 will significantly reduce the cost of goods and services, acting as a catalyst for increased consumption, spurring GDP growth, and reinforcing the government’s vision of ‘Vocal for Local’ and ‘Make in India’. These reforms are not just regulatory tweaks but foundational pillars empowering job creation, innovation, and economic self-reliance,” he remarked. CS Malhotra further outlined the Seven Pillars of GST Reforms, envisioned as the bedrock for a transformed tax regime supporting India’s aspiration to become a developed nation (Viksit Bharat) by 2047. CS Sanjay Malhotra lauded the proposed rate rationalization initiatives as a transformative force capable of lowering the prices of goods and services across the board. He emphasized that such reforms would directly translate into enhanced consumer purchasing power, thereby stimulating demand and invigorating consumption throughout the economy. The resulting increase in affordability, he noted, would not only benefit households by fostering higher savings but also create a ripple effect, spurring investments and supporting sustainable economic expansion across all sectors. A special felicitation ceremony honored trade members and senior officers from both State and Central GST departments for their outstanding contributions to the evolving GST ecosystem. The event was generously sponsored by Trident Group, a global leader in Home Textiles renowned for its expansive international presence and commitment to industry excellence. The Seminar also celebrated the enthusiastic participation of young moderators Ritika Malhotra, Kanwalpreet Kaur, Abhishek, and Abhi. Their deft handling of sessions, audience engagement, and insightful moderation received resounding applause from both trade members and senior officers, highlighting the next generation’s vital role in India’s tax reforms journey. Participants echoed the sentiment that continued collaboration among government, industry, and professional bodies is crucial for realizing the vision of a robust, equitable, and growth-oriented GST regime.