🎆 PM’s “Double Diwali” Promise — Next-Gen GST Coming Soon on 79th Independence Day 🇮🇳

 🎆 PM’s “Double Diwali” Promise — Next-Gen GST Coming Soon  on 79th Independence Day 🇮🇳

Prime Minister Narendra Modi has promised “next-generation” GST reforms as a Diwali gift — signalling a major overhaul aimed at lowering taxes on everyday items and simplifying the GST structure. 


What the announcement says

  • Timeline: Reforms promised by Diwali (October 2025).

  • Objective: Cut tax burden on common items, simplify slabs and compliance for consumers, businesses and MSMEs. 

  • Process: Government has drafted proposals and sent them to the Group of Ministers (GoM) / GST Council for consideration. 

Why it matters

  • Consumer relief: Lower GST on everyday goods raises disposable income and demand.

  • MSME & business impact: Simpler slabs and lower rates can reduce compliance cost and boost formal demand.

  • Fiscal trade-off: Rate cuts could mean short-term revenue loss — will need calibrated compensation or broader base measures.

What to watch next

  1. GST Council decisions — final slab structure and product classification. 

  2. Implementation timeline and transitional rules for businesses.

  3. Revenue impact modelling and whether compensatory fiscal measures are tabled.

Bottom line

A meaningful GST revamp could be a game-changer for households and MSMEs — but the details (slabs, scope, timelines) will decide how big the real benefit is. Stay tuned for GST Council updates. 🔍

#GSTReform #DoubleDiwali #GST #IndianEconomy #MSMEs #TaxReform #PolicyWatch

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