- The GST Council’s October 7 meeting will focus on “GST 2.0” process reforms, especially e-invoicing expansion and rationalising input tax credit (ITC) rules.
- Sitharaman indicated e-invoicing for all taxpayers, including composition scheme dealers, is under consideration, but said this is still part of “GST 2,” not a separate “GST 3.0.”
- The government wants industry and tax professionals to submit specific representations on anomalies in the GST framework, with an emphasis on evidence-based proposals and removing outdated provisions.
- She said the next phase of GST discussions will move beyond rate cuts, exemptions, and concessions toward broader tax-policy reforms and institutional research support.
- On digital taxation, she urged caution on taxing cloud and digital services, citing implications for India, other jurisdictions, and future investment; she also noted India withdrew its equalisation levy and e-commerce levy in 2024 during OECD global tax negotiations.
Source: a2ztaxcorp.net
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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