GOA BRANCH OF ICAI WELCOMES LANDMARK GST 2.0 REFORMS

The Goa Branch (WIRC) of the Institute of Chartered Accountants of India (ICAI) has warmly welcomed the GST 2.0 Reforms announced by the Government of India during the 56th GST Council Meeting.

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The reforms, which introduce a simplified two-slab tax structure and rationalized rates across key sectors, have been hailed as a major milestone in India's tax evolution.

Under the new system, GST will operate with two slabs, along with a higher rate exclusively for luxury and sin goods. This rationalization is aimed at streamlining the tax regime, reducing complexity, and creating a more business- and consumer-friendly environment.