https://www.taxtmi.com/news?id=52625 The finance ministry proposes a two-slab GST structure-'standard' and 'merit'-with specified special rates for select items to simplify classification and lower tax burdens. It calls for addressing inverted duty structures and classification disputes to improve rate stability. Following the scheduled end of the compensation cess, the GST Council must devise a mechanism to reallocate taxes presently collected through cess. Complementary reforms include technology-driven registration, pre-filled returns, and faster automated refunds, to be pursued in consultation with states under cooperative federalism. en-us Fri, 15 Aug 2025 13:16:03 +0530 Fri, 15 Aug 2025 13:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=52625 The finance ministry proposes a two-slab GST structure-'standard' and 'merit'-with specified special rates for select items to simplify classification and lower tax burdens. It calls for addressing inverted duty structures and classification disputes to improve rate stability. Following the scheduled end of the compensation cess, the GST Council must devise a mechanism to reallocate taxes presently collected through cess. Complementary reforms include technology-driven registration, pre-filled returns, and faster automated refunds, to be pursued in consultation with states under cooperative federalism. News - Fri, 15 Aug 2025 13:16:03 +0530 https://www.taxtmi.com/news?id=52625