Cluster University Registrar G. Srinivas recently stressed the vital importance of widespread public understanding regarding the Central government’s upcoming Goods and Services Tax (GST) reforms. He believes these “next-generation” changes are crucial for every citizen to grasp.
During a compelling guest lecture titled ‘Impact of GST 2.0,’ organized by the Department of Economics at Silver Jubilee Degree College within Cluster University, Mr. Srinivas reiterated that knowing the benefits of these GST updates is essential. He particularly emphasized the need for all students to be well-informed about the nation’s tax system and the various levies imposed by the government.
Mr. Srinivas provided a concise overview of the GST’s evolution in India, pointing out that the latest reforms simplify the tax structure significantly, featuring just two primary slabs. This simplification, he noted, makes the system far more accessible and understandable for the average person. Following his presentation, he actively engaged with students, addressing their questions and providing clear clarifications.
Echoing these sentiments, G. Ella Krishna, in-charge of the Department of Economics, affirmed that the streamlined GST system is poised to deliver substantial advantages to the national economy. This move, he projected, would significantly contribute to India’s ambition of becoming the world’s third-largest economy.