<h1>Government forms task force to reform GST laws and ease compliance for startups, MSMEs under Section 44AB</h1> The government announced the formation of a task force to implement next-generation reforms and revise GST laws, aiming to align economic regulations with 21st-century needs and reduce compliance costs for startups, MSMEs, and entrepreneurs. The task force will work within a set timeframe to streamline laws, enhance ease of doing business, and provide protection from arbitrary legal actions. Upcoming GST reforms are expected to lower taxes on daily-use items by Diwali, benefiting consumers and stimulating economic activity. Additional reforms include a new Income Tax Bill with zero tax on incomes up to a specified threshold and efforts to boost domestic production in sectors like semiconductors and fertilizers to reduce import dependence. The government also plans to replace outdated criminal laws with a simplified Indian Justice Code, promoting fairness and efficiency in legal processes. These initiatives reflect ongoing efforts to modernize governance, simplify compliance, and foster economic growth.