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

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

Prime Minister Shri Narendra Modi, on the occasion of 79^th Independence Day, highlighted how Goods and Services Tax (GST), implemented in 2017, is a significant reform which has benefited the nation.

The Prime Minister underscored the importance of the next generation of reforms under GST, which brings relief to the common man, farmers, middle class and MSMEs.

To build an ‘Atmanirbhar Bharat’, the Central Government is proposing significant reforms in GST.  It will be focused on 3 pillars, namely

 

 

The Central 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 reforms:

 

 

Pillar 2: Rate Rationalisation:

 

 

Pillar 3: Ease of Living:

 

 

The Centre’s proposal, anchored on the above three foundational pillars, has been shared with the GoM for further deliberations within the GoM. The Centre has taken this initiative with the aim of building a constructive, inclusive, and consensus-based dialogue among all stakeholders.

In the true spirit of cooperative federalism, the Centre remains committed to working closely with the States. It will be building a broad-based consensus with the States in the coming weeks, to implement the next generation of reforms as envisioned by Prime Minister Shri Narendra Modi.

The GST Council, when it meets next, will deliberate on the recommendations of GoM, and every effort will be made to facilitate early implementation so that the intended benefits are substantially realised within the current financial year.

The Government reaffirms its commitment to evolving the GST into a simple, stable, and transparent tax system — one that supports #InclusiveGrowth, strengthens formal economy and enhances Ease of Doing Business (EoDB) across the country.

Prime Minister Shri @narendramodi, on the occasion of 79th Independence Day, highlighted how Goods and Services Tax (GST), implemented in 2017, is a significant reform which has benefited the nation.

The Prime Minister underscored the importance of the next generation of reforms…