GST Structural Reforms 2.0

The Structural Reforms 2.0 have aimed at making significant relaxations in relation to various processes, refunds, exports, with a significant change in terms of removal of arrest powers from GST officers.

While the broad theme was to undertake structural reform, at the same time, significant boost has been provided to exporters and inverted tax structure sectors by providing refund for capital goods and input services, unlocking significant capital which can be optimally utilized for further expansion. ITC reforms in the form of employee related expenses including insurance, catering, as also business expenses like samples, expired stock destruction further supports Government’s efforts towards achieving complete value-added taxation.