In the latest episode, Sachhin Shinde, Partner, Tax Planning & Optimisation, breaks down the big takeaways from the 56th GST Council meeting, which introduced a new wave of reforms ushering in GST 2.0.
Key insights from the discussion:
- Shift to a simplified 2-slab structure (5% and 18%) with a new 40% rate for luxury goods.
- Boost to consumption and household savings through lower costs on essentials.
- Faster cash flow with risk-based provisional refunds sanctioned within 7 days.
- Operational ease through simplified registration and GST Tribunal for dispute resolution.
- Transitional challenges businesses must address — from ERP updates to pricing strategies and compliance risks.
Tune in to understand how GST 2.0 is set to simplify compliance, ease working capital pressures, and strengthen India’s competitiveness in a volatile global economy.
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