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A simplified GST
Business Standard
|September 23, 2025
Revenue collection must be closely tracked
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Inhis address to the nation on Sunday, Prime Minister Narendra Modi underscored how changes in the goods and services tax (GST) structure — which were cleared by the GST Council earlier this month and came into effect on Monday — would make goods and services more affordable for people and simplify operations for businesses.
The GST Council, in its 56th meeting, had decided to move mainly toa two-rate structure, 5 per cent and 18 per cent, for most goods and services, with a demerit rate of 40 per cent for a select few goods. The council also did away with the compensation cess except on a few sin goods, which will be collected until the loans raised to compensate states during the pandemic are repaid. This is likely to be over in the coming few months.
This story is from the September 23, 2025 edition of Business Standard.
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