https://www.taxtmi.com/news?id=52758 Proposed changes to the Goods and Services Tax framework envisage consolidation of tax rates into lower and mid-level slabs, aiming to reduce incidence on several high-rate industries and improve compliance. The draft circulated to states anticipates sectoral reclassification shifting certain goods and services from higher to lower slabs, with consequential effects on pricing, input-credit dynamics, administrative procedures, and downstream compliance obligations upon enactment. en-us Mon, 18 Aug 2025 12:01:04 +0530 Mon, 18 Aug 2025 12:01:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=52758 Proposed changes to the Goods and Services Tax framework envisage consolidation of tax rates into lower and mid-level slabs, aiming to reduce incidence on several high-rate industries and improve compliance. The draft circulated to states anticipates sectoral reclassification shifting certain goods and services from higher to lower slabs, with consequential effects on pricing, input-credit dynamics, administrative procedures, and downstream compliance obligations upon enactment. News - Mon, 18 Aug 2025 12:01:04 +0530 https://www.taxtmi.com/news?id=52758