LatestGoods & Service Tax (GST) 2 July 2026
GST 3.0 Vision Unveiled
A new report by Grant Thornton Bharat offers a vision for GST 3.0, as annual GST collections reach a record Rs 23.11 lakh crore in 2025-26, with the taxpayer base growing to 1.65 crore, the report provides insights into the future of GST, including its potential impact on businesses and taxpayers, the report highlights the need for a more streamlined and efficient GST system, with a focus on simplifying compliance and reducing administrative burdens
The taxpayer base has grown to 1.65 crore today, with annual GST collections hitting a record Rs 23.11 lakh crore in 2025-26.
- The report highlights key features of GST 3.0, including a more streamlined and efficient system,
- with a focus on simplifying compliance and reducing administrative burdens.
* GST 3.0 is expected to have a significant impact on businesses and taxpayers*,
with the potential to increase economic growth and reduce tax evasion.
The report provides insights into the future of GST, including its potential impact on the economy and taxpayers.
Need help understanding this update?
Connect with our domain experts instantly via WhatsApp for customized legal guidance.