International Science Community Association Research Journal of Management Sciences 15 2 2026 05 6 Next-Generation GST Reforms in India: A Study on Tax Rationalization and its Socio-Economic Impact 29 33 EN Madar Krishnappa 1 KRCES GGD ARTS, BMP Commerce and SVS Science College Bailhongal, Bailhongal, Karnataka, India Kabara Vijaykumar 1 Department of Commerce, Bhandari and Rathi College, Guledagudda, Bagalkot University, Jamakhandi, Karnataka, India Kumar M. Girish 2 Department of Commerce, Bhandari and Rathi College, Guledagudda, Bagalkot University, Jamakhandi, Karnataka, India Devarmani Virupakshi Patil 1 Department of Commerce, Bagalkot University, Jamkhandi - 587301, Karnataka, India and Department of Commerce, Government First Grade College Hukkeri,-591309, Karnataka, India Daga Chetan B 2 Department of Commerce, Government First Grade College, Rabakavi Banahatti-587314,, Karnataka, India Khawatakoppa Mahaveer 1 Department of Commerce, Government First Grade College, Rabakavi-Banahatti, Bagalkot, Karnataka, India Menghani Payal 1 Department of Management, RPL Maheshwari College, Indore, MP, India Baddi Vijayalaxmi 1 Government First Grade College, Yaragatti, Rani Channamma University, Belagavi, Karnataka, India Khavasi Laxmi 1 Department of Management, Janata Shikshan Sangha’s Shree Tammannappa Chikkodi Arts and Commerce College, Banahatti.Karnataka, India Konnur Mallikarjun 2 Department of Commerce & Management, BLDE Association Commerce, BHS Arts and TGP Science College, Jamkhandi, Karnataka, India > Review Paper 2026 4 10 2026 05 6 Goods and Services Tax (GST) in India was a historic reform that was introduced in 2017 to establish a single and simplified system of indirect taxes. With time, the necessity to refine it further resulted in Next-Generation GST reforms, which revolve around tax rationalization and improved socio-economic outcomes. This paper will discuss the effects of these reforms, especially as regards to sectoral tax cuts, and procedural reforms. The study examines how low GST on basic commodities, farm inputs, health services, learning materials, cars, and electrical appliances has led to better affordability and consumption. Particular attention is given to rural and agricultural sectors, where input costs have been reduced, which increased productivity and profitability. The study also assesses how the GST reforms contribute to the achievement of inclusive growth through alleviating the financial strain on households and facilitating the growth of small and medium enterprises. Procedural reforms, including simplified registration procedures, accelerated refund systems, which have increased ease of doing business and enhanced liquidity to business entities, are also highlighted in this paper. All these transformations help in making the economy more competitive, more investment and creation of jobs. Nevertheless, the research also recognizes such issues as the changes in rates frequently, digital barrier to compliance and gaps in the implementation, especially in the rural settings. The results are that although Next-Generation GST reforms have been very effective in enhancing the efficiency of the economy and social welfare, there is a need to sustain these policy reforms over time, create awareness, and develop infrastructure to maximize the effects of the reforms in the long-run. Copyright@ International Science Community Association