Report on SUPER GST – SUPER SAVINGS (GST 2.0)

Report on

SUPER GST – SUPER SAVINGS (GST 2.0)

Introduction

As per the instructions of the Principal, Dr. K. Vijaya babu, and in accordance with the Academic Calendar, SUPER GST – SUPER SAVINGS Awareness programme was conducted from 7th October 2025.The Goods and Services Tax (GST), introduced on 1st July 2017, is India’s most significant indirect tax reform since Independence. By bringing together multiple central and state taxes into a single, unified system, GST created a common national market, reduced the cascading of taxes, simplified compliance, and improved transparency. Over eight years, GST has steadily evolved through rate rationalization and digitalization, becoming the backbone of India’s indirect tax framework.

The 56th meeting of the GST Council, chaired by Union Finance Minister Smt. Nirmala Sitharaman has now approved Next-Gen GST reforms, with focus on improving the lives of the common man and ensuring ease of doing business for all, including small traders and businessmen. In his Independence Day address, Prime Minister Narendra Modi had announced-“ The government will bring Next-Generation GST reforms, which will bring down tax burden on the common man. It will be a Diwali gift for you.” The reforms, he said, would directly benefit the common man, farmers, MSMEs, women, youth, and middle-class families, while strengthening India’s long-term growth.

Key Takeaways

• GST simplified to a two-slab structure (5% & 18%)

• GST reforms cut taxes on household essentials (soaps, toothpaste, Indian breads) to 5% or Nil boosting affordability

• Life-saving drugs, medicines reduced from 12% to Nil or 5% making healthcare affordable

• Two-wheelers, small cars, TVs, ACs, cement cut from 28% to 18% bringing relief to middle-class.

• Farm machinery, irrigation equipment cut from 12% to 5%, reducing farming costs

• Tobacco, pan masala, aerated drinks, and luxury goods taxed at 40%.

Importance of GST 2.0

1. Simplification of Tax System – GST 2.0 minimizes multiple returns, reduces paperwork, and makes compliance easier for small traders and consumers.

2. Digital Transformation – With advanced e-filing, e-invoicing, and user-friendly portals, common people can understand and track taxes more easily.

3. Transparency – By reducing hidden taxes and bringing more clarity, GST 2.0 helps consumers know exactly what they are paying.

4. Better Revenue Utilization – Increased compliance and reduced tax evasion mean more government revenue, which can be used for welfare schemes and public development.

Benefits for Common People

· Reduced Prices of Goods and Services – Removal of cascading taxes ensures that consumers pay fair prices without hidden costs.

· One Nation, One Tax – Common people benefit from uniform tax rates across the country, making goods cheaper and trade smoother.

· Ease of Online Shopping and Services – With standard tax rates, e-commerce purchases and service charges become more predictable and consumer-friendly.

· Support for Small Businesses – GST 2.0 reduces compliance burden on small shops and vendors, ultimatel y helping local communities.

· Encourages Transparency – Bills and invoices clearly show GST, preventing overcharging and protecting consumer rights.

· Boost to Economy – As GST strengthens the economy, people indirectly benefit through better infrastructure, employment, and welfare programs.

Next-Gen GST : Benefits for all

The Next-Generation GST reforms are designed not just to reduce tax rates, but to create a virtuous cycle of growth.

• Lower Prices, Higher Demand: Cheaper goods and services increase household savings and stimulate consumption.

• Support for MSMEs: Reduced rates on inputs like cement, auto parts, and handicrafts lower costs and make small businesses more competitive.

• Ease of Living: A two-rate structure means fewer disputes, quicker decisions, and simpler compliance.

• Wider Tax Net: Simpler rates encourage compliance, expanding the tax base and improving revenues.

• Support for Manufacturing: Correcting inverted duty structures boosts domestic value addition and exports.

• Revenue Growth: As seen in past reforms, lower rates with better compliance increase collections.

• Economic Momentum: Lower costs → higher demand → larger tax base → stronger revenues → sustainable growth.

• Social Protection: Exemption of GST on insurance and essential medicines strengthens household security and access to healthcare.

Together, these reforms ensure that GST is citizen-centric, business-friendly, and aligned with India’s global growth ambitions.

As per the instructions of the Commissioner of College Education, Mangalagiri, Government Degree College Kamavarapukota, Eluru District conducted Awareness program on Super GST- Super Savings(GST 2.0) under the chairmanship of I/C Principal Sri M.Malleswara Rao on 06-10-2025.

In addition to this, we conducted Essay Writing and Poster presentation in coordination with GST Champion on 07-10-2025

Winers (Essay Writing)

1^st Prize K.Prasanthi, 1^st B.Com (CA)

2^nd Prize Sk. Yaseen Sulthana, 2^nd BZC

3^rd Prize B.Nandini 2 B.A (Pol)

Winners (Poster Presentation)

1^st Prize Ch.Raghavendra, 1^St B.Com (CA)

2^nd Prize R.Bhargavi, 3rd BZC

Elocution on “Super GST- Super Savings” was conducted on 08-10-2025 and awarded certificates for all winning students.

Winners (Elocution)

1^st Prize B.Hymavathi , 3^rd BA

2^nd Prize D.Iswarya, 2^nd B.Com (CA)

All the photographs and videos regarding GST were uploaded in the App with the help of GST Champion. Further, GST Pamphlets were distributed to all the students and instruct them to create awareness among Public at their villages.