- Indian Government announces plan to simplify GST regime
- GST introduced in 2017 to simplify indirect tax system
- Current GST system has become complex with multiple rates and procedures
- Reform process supported by GST Council aims to overhaul GST rates
- Proposal includes two main GST rates with special rates for select items
- Plan to reduce GST burden on basic commodities
- Aim to equalize tax rates on final products and inputs
- Accelerate refunds for taxpayers and exporters
- Improve registration processes and pre-fill tax returns
- Group of Ministers to discuss proposed measures
Source: answerconnect.cch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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