GST 2.0 may be reality by 2019, with changes in tax rates, clarity on cess

Goods and services tax  (GST), which is turning one on Sunday, is likely to usher in significant reforms by 2019, experts and consultants believe. The changes could be in terms of tax rates, expansion of ambit, system of advance rulings, clarity on cess and procedural issues. But, some tweaking is possible much sooner. For instance, minor rate cuts in the range of 1-2 percentage points may be…