https://www.taxtmi.com/news?id=52672 Demand for a formal consultative GST 2.0 discussion paper urging drastic reduction of rate slabs and exemptions to simplify the tax, while minimising revenue uncertainty for states; proposal to extend the GST compensation cess to offset transitional revenue losses; targeted measures to protect MSMEs through higher interstate thresholds and address sectoral issues; and incentives for states to introduce expanded state-level GST covering electricity, alcohol, petroleum and real estate, alongside a central proposal to streamline most supplies into standard and merit rates with limited special rates. en-us Sat, 16 Aug 2025 11:01:03 +0530 Sat, 16 Aug 2025 11:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=52672 Demand for a formal consultative GST 2.0 discussion paper urging drastic reduction of rate slabs and exemptions to simplify the tax, while minimising revenue uncertainty for states; proposal to extend the GST compensation cess to offset transitional revenue losses; targeted measures to protect MSMEs through higher interstate thresholds and address sectoral issues; and incentives for states to introduce expanded state-level GST covering electricity, alcohol, petroleum and real estate, alongside a central proposal to streamline most supplies into standard and merit rates with limited special rates. News - Sat, 16 Aug 2025 11:01:03 +0530 https://www.taxtmi.com/news?id=52672