India's next-generation GST, conceived under Prime Minister Narendra Modi, seeks to reduce and rationalise rates and simplify compliance, with rate changes effective September 22, 2025. Gross GST collections reached ₹12.46 lakh crore in April–September 2026, up 11.6% year-on-year, while reported taxable supplies grew 25.8% between October 2025 and July 2026. The next phase of process reforms will go before the GST Council shortly.
Next-Gen GST Reforms Aim to Boost India's Growth
Source: The Hindu