https://www.taxtmi.com/news?id=52821 A draft Goods and Services Tax reform circulated to states proposes replacing the existing multi slab rate structure with two principal tax rates plus a higher bracket for a limited set of demerit goods; adoption requires GST Council approval and state cooperation, with the government seeking implementation before Diwali, and the measure is framed as simplifying rates to benefit consumers and businesses while concentrating higher tax incidence on specified demerit items. en-us Mon, 18 Aug 2025 20:46:03 +0530 Mon, 18 Aug 2025 20:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=52821 A draft Goods and Services Tax reform circulated to states proposes replacing the existing multi slab rate structure with two principal tax rates plus a higher bracket for a limited set of demerit goods; adoption requires GST Council approval and state cooperation, with the government seeking implementation before Diwali, and the measure is framed as simplifying rates to benefit consumers and businesses while concentrating higher tax incidence on specified demerit items. News - Mon, 18 Aug 2025 20:46:03 +0530 https://www.taxtmi.com/news?id=52821