https://www.taxtmi.com/news?id=54365 The government proposes a simplified GST framework replacing multiple slabs with a dominant two rate structure and a separate high rate for select demerit and luxury goods; most everyday items would move to lower rates while some goods would face differentiated treatment and an additional levy option on the highest rate category. Opposition ruled states demand compensation for anticipated revenue losses after the prior compensation scheme ended, while the Centre contends consumption gains and compliance simplification will limit revenue disruption. A contested point remains the appropriate GST rate for electric vehicles, reflecting broader intergovernmental negotiation needs. en-us Tue, 02 Sep 2025 17:31:03 +0530 Tue, 02 Sep 2025 17:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=54365 The government proposes a simplified GST framework replacing multiple slabs with a dominant two rate structure and a separate high rate for select demerit and luxury goods; most everyday items would move to lower rates while some goods would face differentiated treatment and an additional levy option on the highest rate category. Opposition ruled states demand compensation for anticipated revenue losses after the prior compensation scheme ended, while the Centre contends consumption gains and compliance simplification will limit revenue disruption. A contested point remains the appropriate GST rate for electric vehicles, reflecting broader intergovernmental negotiation needs. News - Tue, 02 Sep 2025 17:31:03 +0530 https://www.taxtmi.com/news?id=54365