Next phase of GST reforms to reach Council shortly, says FM Nirmala Sitharaman

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Dhvani Rajyagor
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Next phase of GST reforms to reach Council shortly, says FM Nirmala Sitharaman
Next phase of GST reforms to reach Council shortly, says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has emphasised that India’s ambition to become Viksit Bharat requires an economy in which enterprises of every size can grow, wherever they begin. She added that the Government has worked to create those conditions over the past 12 years.

In an article for a newspaper, the Finance Minister said that GST’s introduction in 2017 established a common national framework for indirect taxation. She highlighted that next-gen GST carries that effort forward, drawing on nine years of implementation and the experience of taxpayers and states.
The Finance Minister noted that GST registrations across central and state jurisdictions were about 17.1 million at the end of August, up by nearly 15 per cent from a year earlier.
She also said that under the vision of Prime Minister Narendra Modi, next-gen GST was conceived with two connected purposes that were to reduce and rationalise rates and to make compliance easier.

She stated that the next phase of process reforms will come before the GST Council shortly and added that these efforts seek to give households relief, businesses greater certainty and taxpayers a system in which they can fulfil their obligations without difficulty.  

Also read: Viksit Workforce for a Viksit Bharat

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