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What is An Impact Analysis - GST 2.0 Reforms about?

The GST 2.0 reforms have simplified the tax structure by reducing the number of tax rates from four to two, with rates now set at 5% and 18%. The abolition of cess is expected to increase revenue shares for states, particularly on luxury and sin goods, while the real estate sector may benefit from reduced construction costs. However, certain sectors like hotels, beauty parlors, and insurance may face increased costs due to the withdrawal of input tax credits despite lower tax rates.

Author

chetansharma67168

Language

EN