Simplified Tax Structure: The new GST Bill aims to simplify tax compliance, reducing multiple layers of indirect taxes for businesses and consumers alike.
Boost to Digital Filing: It introduces advanced digital platforms, ensuring faster GST return filing and better transparency across business transactions nationwide.
Relief for Small Businesses:Threshold exemptions and simplified filing options are designed to provide compliance relief to startups and small-scale businesses.
Stricter Anti-Evasion Measures: The bill strengthens measures to curb tax evasion, with tighter monitoring, AI-based tracking, and stricter penalty provisions.
Expected Economic Impact: Experts predict improved revenue collection, increased foreign investment, and a more business-friendly environment under the updated GST framework.