IndirectTax

GST Overhaul on the Horizon: Finance Ministry Discusses Simplification with Industry

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GST Overhaul on the Horizon: Finance Ministry Discusses Simplification with Industry

The Indian finance ministry is in talks with industry leaders about GST 2.0, a potential overhaul of the Goods and Services Tax. With GST nearing its eighth anniversary in July, the aim is to simplify the complex tax structure and address existing challenges. Why the Push for GST 2.0? Currently, India’s GST operates with multiple … Read more

GST Overhaul: Industry Demands Wider Tax Base & Lower Rates

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GST Overhaul: Industry Demands Wider Tax Base & Lower Rates

India’s industry leaders are pushing for a major shake-up of the Goods and Services Tax (GST) system. They’ve formally asked the government to bring key sectors like petroleum products, electricity, and real estate under the GST umbrella. The goal? To broaden the tax base and, in turn, reduce overall GST rates for everyone. Why the … Read more