Policy● Neutral for Indian equities
Next-gen GST: Taking India's reform journey forward
The brief
- The new GST framework aims to streamline compliance while lowering tax rates
- Lower tax rates and simpler compliance could affect costs and demand across Indian businesses
- GST 2.0: Faster refunds, wider ITC, no arrests
- GST Council likely to ease audits for firms with multi-state operations
- GST 2.0: E-Commerce Sellers, Taxpayers May Get Relief As Centre Plans Compliance Overhaul
- GST exemption for banks, nominated agencies for gold, silver imports may be withdrawn
- Employers may get ITC on employee insurance GST
Next-Gen GST compliance reforms
The GST Council was set to assess procedural reforms, including relief for small e-commerce sellers and buyers. The proposed Next-Gen GST framework aims to simplify compliance and lower tax rates.
Monday, 5 October
- Next-gen GST: Taking India's reform journey forward