GST Reform 2025: Two-Slab Structure Likely as GoM Clears Proposal

The GoM has cleared a proposal for a "two-slab GST structure" as part of "GST reform 2025." This move, which is a significant step towards a more user-friendly and less intrusive tax environment, is aimed at simplifying the tax structure and reducing the tax burden on essential goods. While the revenue loss is a concern, the government believes that the move will boost consumption and stimulate economic growth. The proposal, if implemented, will have a profound impact on various sectors and is expected to be a key reform in the GST framework.