Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax: Cong
GST
Dated:- 16-8-2025
PTI
New Delhi, Aug 16 (PTI) The Congress Saturday demanded an official discussion paper on GST 2.0 soon for a wider debate on it and said the reform should be towards a “Good and Simple Tax” in letter, spirit, and compliance, and not the “Growth Suppressing Tax” it has become.
The opposition party's assertion came a day after Prime Minister Narendra Modi announced that GST rates will be lowered by Diwali, bringing down prices of everyday use items, as his government looks to reform the eight-year-old regime that has been plagued by litigation and evasion.
Congress general secretary in-charge of communications, Jairam Ramesh, said that
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
implification of the rate structure is essential, but must be done in a manner that minimises revenue uncertainty to states and also eliminates the classification disputes that have become so common.
“The GST compensation cess expires on March 31, 2026. This must be extended to offset any revenue uncertainty from the rationalisation of the rate structure.” Ramesh said the widespread concerns of MSMEs the major employment generators in the economy must be addressed meaningfully, he said, adding that apart from major procedural changes in GST, this will involve further increasing the thresholds that must apply to interstate supplies as well.
Sectoral issues that have surfaced, for instance, in textiles, tourism, exporters, handicrafts an
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
goods and services be taxed in two slabs standard and merit and a select few items be charged special rates.
This is to replace the current goods and services tax (GST) structure, where sale of goods and rendering of services are taxed in four different brackets 5 per cent, 12 per cent, 18 per cent and 28 per cent with luxury and sin goods attracting a levy on top of the highest rate of 28 per cent.
“This Diwali, I am going to make it a double Diwali for you,” Modi had said in his address to the nation.
Stating that over the past eight years, his government has undertaken major GST reforms, the prime minister said, “We have discussed with states and we are bringing next-generation GST reforms that will reduce the tax burden across th
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =