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Aditya Arora
•

Faad Network • 4m

Why are the latest GST reforms being rightly called the Next Gen GST reforms for Startups and MSMEs? Here's why. ⬇️ In 2017, the government rolled multiple taxes (excise, VAT, service tax, entry tax, etc.) on differentiated products into "One Nation, One Tax." GST was born, but the problem remained unsolved. 🤔 Multiple states levied their own taxes, compliance was still a burden, and we had the draconian cascading effect (tax on tax). But now the game changes. 👇🏻 With simplified GST slabs of 5%, 18%, and 40%, and a record ₹22.08 lakh crore collected in 2024–25 (a 9.4% year-on-year increase), India is primed for unprecedented startup expansion. 🙌 Startups and MSMEs get a boost in terms of a) automatic registration within three weeks, b) Inverted duty fixation, and c) Faster refunds and liquidity. ✅ Compliance and paperwork get limited, working capital gets relaxed, and startups can finally (finally) breathe the fresh air. 😅 Agritech companies receive a lower GST on tractors, while healthtech companies are exempt from GST on medical devices and insurance. ⛑️ Additionally, renewables get taxed at just 5% on solar and wind energy equipment. 💨 No wonder the GST taxpayer base has grown from 66.5 lakh entities in 2017 to 1.51 crore by 2025. Viksit Bharat is the new MOTTO. 🇮🇳 hashtag#NextGenGST

6 Replies

Replies (6)

Zig Wheels

Booming till 2030 • 4m

i cannot understand to technical can u explain these in hinglish

1 Reply

Saikumar Chigicherla

CA • 4m

We are still addressing certain complexities, particularly concerning Real Estate GST, which are currently contributing to litigation. Also Please refer to page 385, note 40, within the Urban Company DRHC document for further details. Furthermore, a review of the current taxation practices for automobiles, specifically in relation to the 4-meter rule, is recommended.

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