Prime Minister Shri Narendra Modi, on the occasion of 79th Independence Day, highlights how Goods and Services Tax (GST) is a significant reform which has benefited the nation
GST
Dated:- 18-8-2025
To build an 'Atmanirbhar Bharat', the Central Government is proposing significant reforms in GST, focused on 3 pillars, of structural reforms, rate rationalisation, and ease of living
Key areas identified for next-generation reforms include rationalisation of tax rates to benefit all sections of society, especially the common man, women, students, middle class, and farmers
Reforms will also seek to reduce classification-related disputes, correcting inverted duty structures in specific sectors, ensuring greater rate stability, and f
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Government has sent its proposal on GST rate rationalisation and reforms to the Group of Ministers (GoM) constituted by the GST Council to examine this issue.
Key areas identified for next-generation reforms include the rationalisation of tax rates to benefit all sections of society, especially the common man, women, students, middle class, and farmers.
Reforms will also seek to reduce classification-related disputes, correcting inverted duty structures in specific sectors, ensuring greater rate stability, and further enhancing ease of doing business. These measures would strengthen key economic sectors, stimulate economic activity, and enable sectoral expansion.
Key Pillars of the Centre's Proposed Reforms:
Pillar 1: Structural reform
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ability, boost consumption, and make essential and aspirational goods more accessible to a wider population.
* Reduction of slabs: Essentially move towards simple tax with 2 slabs – standard and merit. Special rates only for select few items.
* Compensation Cess: The end of compensation cess has created fiscal space, providing greater flexibility to rationalise and align tax rates within the GST framework for long-term sustainability.
Pillar 3: Ease of Living:
* Registration: seamless, technology-driven, and time-bound, especially for small businesses and startups.
* Return: Implement pre-filled returns, thus reducing manual intervention and eliminating mismatches.
* Refund: faster and automated proc
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =