GST 2.0: A Double Dose of Progress for India
Prime Minister Narendra Modi announced the launch of GST 2.0, a set of reforms in the Goods and Services Tax regime aimed at bolstering India's economic growth. New simplified tax rates and strategic changes have been introduced to support India's development in the 21st century and foster self-reliance.
- Country:
- India
In a significant move to bolster India's economic framework, Prime Minister Narendra Modi unveiled GST 2.0, marking a critical overhaul of the Goods and Services Tax regime.
The reforms, aimed at supporting India's advancement in the 21st century, include simplified tax rates of 5% and 18%, which will be effective from the start of Navratri.
Highlighting the untangling of previous complexities, Modi emphasized the addition of 'five new gems' to the economy, crucial for establishing India's rightful place on the global stage and ensuring self-reliance.
(With inputs from agencies.)
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