Congress calls for official GST 2.0 paper after PM Modi’s announcement

After Prime Minister Narendra Modi announced reforms on Goods and Services Tax GST Congress has demanded an official discussion paper for an informed and wider debate on itCongress General Secretary Jairam Ramesh in a statement laid down the partys demand saying that GST should be truly a Good and Simple Tax not Growth Suppressing TaxThe Indian National Congress demands an official discussion paper on GST 20 very soon so that there can be an informed and wider debate on this vital and pressing national issue GST 20 should be truly a Good and Simple Tax GST in letter spirit and compliance not like the Growth Suppressing Tax GST it has become Jairam Ramesh saidOur statement on the next steps that the Government should take immediately with regards to GST 20 pictwittercomPyF0pzEwiMmdash Jairam Ramesh Jairam_Ramesh August 16 2025Speaking about PMs announcement Jairam Ramesh said PM Modi seems to have finally woken up and realised that transformation is required for economic growthYesterday the Prime Minister seems to have finally woken up to the fact that economic growth will simply not accelerate unless this transformation takes place and increases private consumption and private investment he said in a statementThe Rajya Sabha MP advised that there should be a drastic reduction in the rates simplification of the rate structure to minimise revenue uncertainty for statesOver the last seven years the spirit of GST has been vitiated by an increased number of rates and the granting of multiple exemptions The structure also seems to have facilitated evasion There must be a drastic reduction in the number of rates Simplification of the rate structure is essential but must be done in a manner that minimises revenue uncertainty to states and also eliminates the classification disputes that have become so common The GST compensation cess expires on March 31 2026 This must be extended to offset any revenue uncertainty from the rationalisation of the rate structure Jairam Ramesh saidThe widespread concerns of MSMEs the major employment generators in the economy must be addressed meaningfully Apart from major procedural changes this will involve further increasing the thresholds that must apply to interstate supplies as well Sectoral issues that have surfaced for instance in textiles tourism exporters handicrafts and agricultural inputs must be tackled In addition states should be incentivised to move towards the introduction of statelevel GST to cover electricity alcohol petroleum and real estate as well he addedOn Friday PM Modi announced that the government is set to bring a major reform in the Goods and Services Tax GST which will give significant relief to consumers and small businessesAddressing the nation on Independence Day from the Red Fort PM Modi stated that the revisions in the GST would be rolled out around Diwali describing them as a double Diwali gift for the peoplePM Modi said This Diwali I am going to give you a double Diwali gift A major announcement is coming for the people of the country Over the past eight years we implemented a major GST reform that significantly reduced the tax burden across the nation Now after eight years the time has come to review it We have formed a highpowered committee to begin this review process and have held consultations with the states as well We are now bringing in nextgeneration GST reforms This will become a Diwali gift for the nationTax rates on essential goods and daily needs will be reduced under a simplified framework This will bring significant relief and convenience Our MSMEs and small industries will also benefit greatly from these changes he addedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever