Archive · 22 Aug 2025
GST 2.0 Framework Gains Momentum
India is working on changing its Goods and Services Tax (GST).
The plan, announced by Prime Minister Modi, aims to make things simpler.
They plan to lower taxes on some items and services.
This is supposed to make life easier for small businesses and consumers.
The changes are expected to be in place by Diwali.
The State Bank of India (SBI) believes these changes will help people spend more money.
Consensus is building among states and the Centre on advancing GST 2.0.
GST 2.0 is based on Prime Minister Narendra Modi's Independence Day promise.
The goal is to lower taxes, simplify structures, and aid MSMEs and consumers.
The GST 2.0 package is expected by Diwali.
The State Bank of India (SBI) anticipates a consumption boost.
- Who
- States, Centre, and Prime Minister Narendra Modi
- What
- Advancement of GST 2.0 framework
- When
- Expected by Diwali
- Where
- Not explicitly mentioned
- Why
- To lower taxes, simplify structures, and provide relief to MSMEs and consumers.
- GST 2.0 Goal
- Lower taxes, simplify structures, aid MSMEs & consumers
- Expected Timing
- By Diwali
- Key Participants
- States and Centre
- Origin
- Prime Minister Modi's Independence Day promise
Sources
No GST on Insurance Premiums? How It Could Change Your Health & Life Cover
Proposed GST cut on cars: How much you can save on your dream ride
GST reforms plan get a leg up with GoM nod
Ministers greenlight two-rate GST, tax relief likely on a range of items
GST 2.0: Is The Proposed Updated Tax Structure A Big Hit For EV Manufacturers?
GST 2.0: A Simpler, Fairer, Faster Tax Regime Is Within Our Grasp
Nifty Auto up 5% in one week on GST cut hopes; M&M, Maruti among stocks poised for gains, says Nomura
Riders, Start Your Engines! Motorbikes To Get A Boost This Festive Season
GST 2.0: Will lower rates make insurance, cars affordable and push GDP growth higher?
Expected GST Cut To Fuel Reduction In Car Prices. Here's How Much You'll Save
GST 2.0: Consensus builds around Modi’s 'next-gen' tax proposal, SBI sees consumption boost
