- GST 2.0 reforms by Prime Minister Narendra Modi aim to simplify India’s tax structure
- Rate cuts on everyday goods are planned by Diwali
- The reforms consolidate four GST slabs into two main rates
- Special levies are introduced for select items
- The plan addresses inverted duty structures and supports MSMEs
- Harsh Shah notes the reforms mark a significant shift in India’s tax landscape
- Expected outcomes include increased consumption, improved compliance, and economic growth
- The coming months are crucial for assessing the long-term impact of GST 2.0 on the economy
Source: taxand.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.
