Panaji, Oct 24 (PTI) The Goa Chamber of Commerce and Industry (GCCI) has called for greater clarity and predictability in taxation, simplified compliance procedures and timely communication of regulatory changes to help businesses reduce costs, avoid disputes and focus on growth.
Speaking at a GCCI programme on the 57th GST Council decisions and the Foreign Exchange Management Act (FEMA) Regulations, 2026, GCCI president Pratima Dhond said uncertainty in the interpretation of tax provisions could lead to disputes, additional costs and diversion of management time from productive activities.
Commissioner of Central Goods and Services Tax, Goa State, Subodh Singh was also present on the occasion.
Dhond said businesses needed to understand how changes
in GST would affect their day-to-day operations, working capital, cash flows and future planning.
“Our expectation is that reforms will progressively simplify compliance, reduce avoidable litigation and create a more facilitative environment for honest taxpayers,” Dhond said, stressing the importance of timely implementation and clear communication to enable businesses to adapt to regulatory changes.
The programme, organised by GCCI on Thursday, also focused on the implications of the new FEMA (Export and Import of Goods and Services) Regulations, 2026, for exporters, importers and businesses planning overseas expansion.
Dhond said Goa’s economic growth would depend not only on strengthening its domestic market but also on enabling local businesses to participate more effectively in international trade and investment.
“Industry needs clarity and a predictable compliance environment, while the administration needs taxpayers to understand and fulfil their obligations,” she said, calling for continued interaction between businesses and the tax administration,” Dhond added. PTI RPS NSK
