Year: 2025
Type: article
Abstract: : One of the pivotal moments in India's tax history would be the 56th meeting of the GST Council, which took place on September 3, 2025. Tax rates and structures are just one aspect of these improvements. They signify a dramatic change toward a more straightforward, equitable, and growth-oriented system that is in line with the goals of a Vikasit Bharat 2047. The gradual implementation of measures starting on September 22, 2025, is equally notable. The industry and customers may immediately take advantage of lower rates thanks to this sequencing, which also guarantees revenue stability. The strategy encourages demand and investment while preserving budgetary health. These announcements cover more ground than merely technical fixes. It is a reform of the people. Farmers, laborers, businesses, entrepreneurs, and people are all impacted. India's growth journey now has a stronger basis thanks to GST 2.0, which has simplified the structure, reduced essentials rates, corrected distortions, and strengthened institutions.
Author: Dr. Devarajappa. SN.
Language: English
Topic: Economic and Fiscal Studies
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4414631396