On March 9, Union Finance Minister Nirmala Sitharaman announced that the Goods and Services Tax (GST) rates will be further reduced as the process of rationalizing tax slabs is almost complete.

The Revenue Neutral Rate (RNR), which was 15.8% when GST was implemented in July 2017, has now reduced to 11.4% in 2023 and will be further reduced.

It will no longer be easy to steal GST data or commit fraud in GST. Starting from April 1, the Multi-Factor Authentication (MFA) rule will be implemented for all users registered under GST.

With the implementation of MFA, it will be difficult to steal the data of any other user using GST or commit any kind of fraud. Under MFA, users will not be able to log in without a One-Time Password (OTP).

Therefore, all users should update their phone numbers on the GST portal this month to avoid any issues in receiving OTPs.