The Center has recommended a simplified Goods and Services Tax (GST) structure with two key slabs having standard and merit rate. In this reform, existing four slabs 5%, 12%, 18%, and 28% will be eliminated. The plan was to be reviewed by Group of Ministers (GoM). It is part of the next-generation GST reforms that have been promised by the Prime Minister to be announced before the Diwali 2025. One can hope that the given amendments will support small and medium-sized enterprises and grant tax relief to the average citizen.
Month: Current Affairs - August 17, 2025
Category: current affairs daily