GST 2.0 by May 2026 — the 5% / 18% / 40% Slab Structure, Intermediary Services Zero-Rated, Post-Sale Discount Reset, New Invoice Series, and the 1 May Beverage Notification
GST 2.0 live since 22 Sep 2025: 0/5/18/40% slabs replaced 5/12/18/28+cess. Three April-2026 resets — intermediary services zero-rated (Sec 13(8)(b) IGST omitted), post-sale discount via credit note + ITC reversal (Sec 15/34), mandatory fresh invoice series. Plus 1 May beverage notification.
Vikram Mehta
@ca_vikram
Long career in direct tax and international taxation, mostly out of Pune. Views personal.