GST 2.0 promises relief on many fronts, but unfinished agenda persists

Despite the sweeping rate and slab reductions, several issues remain unresolved and need to be tackled in the next round of reforms to make GST more viable for businesses, say experts

Excise duty, service tax, value-added tax (VAT), central sales tax, purchase tax, entertainment tax, octroi…. Before the goods and services tax (GST) came into force, on July 1, 2017, people grappled with a maze of taxes, complicated further by multiple rates across the Centre and states. All in all, there were 17 large taxes and 13 cesses. 

The GST regime consolidated these into four main slabs: 5, 12, 18, and 28 per cent. It also eased business operations. Companies no longer needed to maintain warehouses in every state, and the removal of border checkposts brought down the time and cost