Introduction
E360, the Economics Club, organized an expert lecture on “GST 2.0: The Next Leap in India’s Tax Evolution” on 13 February 2026. The session aimed to provide students with conceptual clarity regarding the Goods and Services Tax (GST), its origin, objectives, reforms under GST 2.0, and its impact on India’s taxation system. The event offered a practical understanding of indirect taxation and its relevance to India’s economic framework.
Objectives of the Event
- To explain the full form, origin, and constitutional background of GST.
- To discuss the need for GST reform and the issues in the pre-GST tax system.
- To familiarize students with core GST concepts such as supply, input tax credit, and value addition.
- To highlight the benefits and structural reforms under GST 2.0.
- To develop students’ understanding of tax administration, assessment, and litigation procedures under GST.
Event Proceedings
The session began with a welcome address by the faculty in charge, emphasizing the importance of understanding indirect taxes as a core component of economic policy and governance. The keynote address was delivered by CA Pawan Arora, who provided a comprehensive overview of GST and its evolution in India.
Key points discussed during the session included:
- Origin and Need for GST: The speaker explained that before GST, the central government levied excise duty on manufacturing, while states imposed VAT on the sale of goods. This fragmented system led to cascading taxation and inefficiencies, especially when goods and services were consumed across state boundaries (e.g., inter-state supply of products and services like telecom).
- Pre-GST Tax Structure: Nearly 17 different indirect taxes existed before GST, leading to complexity, double taxation, and compliance burdens. The idea of GST was first proposed in 2006, but its implementation required a constitutional amendment, which was achieved later, enabling taxation of both goods and services under a unified framework.
- Core Concepts of GST: Students were introduced to fundamental GST concepts such as:
- Supply of goods and services
- Input Tax Credit (ITC)
- Value Added Tax (VAT) mechanism within GST
- Benefits of GST: The speaker highlighted the principle of “One Nation, One Tax”, uniform tax rates across states, reduction in tax-related litigation, and the constitutional authority of the GST Council. GST was presented as a crucial pillar of India’s fiscal structure.
- GST Structure and Reforms (GST 2.0): The session covered the tax slab system, including multiple slabs and higher taxation on luxury and sin goods, along with the government’s efforts to rationalize and minimize tax slabs to simplify compliance.
- Assessment, Compliance, and Litigation: The procedural framework of GST assessment was explained, including inspections, issuance of notices, adjudication, and appeals through tribunals. The speaker discussed how disputes and litigations arise within this framework and the importance of proper tax treatment by organizations.
- The session concluded with an interactive Q&A round, where the speaker addressed queries raised by teachers and students, making the discussion highly engaging and application-oriented.
Key Takeaways
- GST was introduced to eliminate the cascading effect of multiple indirect taxes.
- The reform unified the taxation of goods and services under a single constitutional framework.
- Concepts like input tax credit and value addition are central to GST’s efficiency.
- GST 2.0 focuses on simplification, rationalization of tax slabs, and improved compliance.
- The assessment and litigation process under GST highlights the need for transparent and accurate tax practices.
Impact Analysis
The GST Reforms 2.0 session demonstrated strong academic and professional impact:
- Enhancing students’ confidence in understanding and expressing their views analytically from 70.27% to 98.98% on GST reforms.
- Strengthening practical and conceptual clarity in a complex taxation domain, ITC understanding increased from 66.67% to 96.94% (+30.27%).
- Improving overall academic comprehension, over 95% of participants reported enhanced understanding, with the majority rating the session as “Excellent” or “Very Good.”
- The session strengthened practical policy analysis skills, encouraged self-directed academic exploration, and fostered a more structured, data-driven, and skill-oriented learning culture among undergraduate students.
FEEDBACK
- Students appreciated the resource person’s expertise and the relevance of topic for economics students
- Students suggested to conduct more such sessions on the topics relevant to Economics students
ACTION TAKEN FROM FEEDBACK
Based on the feedback, the club plans to organise more such events that provides students the platform to discuss hot topics.