ICC hosts dialogue on GST 2.0, commends simplified and resilient tax ecosystem
The Statesman | 8 November 2025
The Indian Chamber of Commerce (ICC) hosted a special session in Kolkata on “GST 2.0: Impact & Way Forward”, focusing on the next phase of India’s indirect tax reforms. Senior officials from the Central GST administration and industry leaders attended the dialogue, which examined how the evolving Goods and Services Tax aims to become more transparent, efficient and business-friendly.
Shrawan Kumar, Chief Commissioner of CGST, Kolkata Zone, said that GST has been one of the most significant reforms in India’s tax system since its introduction in 2017. He noted that the structure has continuously improved through frequent GST Council meetings, enabling greater simplification and consistency.
Mr Kumar outlined key amendments introduced in the 2024 Union Budget, including relaxed timelines for input tax credit claims, an amnesty programme for certain past penalty notices, provisions for retrospective tax exemptions in specific cases, and a uniform 3.5 year time frame for show cause notices. He added that GST 2.0 has further advanced reforms in rate restructuring and compliance processes, with most goods now falling within two primary tax slabs of 5 per cent and 18 per cent.
He highlighted that registration and refund processes have become faster for most taxpayers, and that the GST Appellate Tribunal will begin functioning in Kolkata and other cities from December 2025. Several key sectors, including healthcare, medical devices, gyms, salons and hospital services, now attract a 5 per cent tax rate, while insurance has been fully exempted. Industries such as jute, leather and handicrafts in West Bengal are among those expected to benefit from the changes.
The reforms have coincided with rising monthly GST revenue collections, which have grown from around Rs 80,000 crore in 2017 to nearly Rs 2 lakh crore at present. Mr Kumar said the revised tax rates would begin reflecting on price tags over the coming weeks.
Offering an industry perspective, ICC President and CMD of Shyam Metalics & Energy Ltd, Brij Bhushan Agarwal, said that GST has supported the ease of doing business by harmonising the indirect tax system.
Dr Rajeev Singh, Director General of ICC, said that GST reforms are part of a wider national effort to modernise India’s economic framework. He emphasised that policy stability, administrative responsiveness and collaboration with industry are central to sustaining long-term growth.