Reform that boosts growth
India’s GST reform of 3 September marks a transformative leap in indirect taxation, with a streamlined two-rate structure and bold rate reductions that will directly spur demand and growth.
India’s GST reform of 3 September marks a transformative leap in indirect taxation, with a streamlined two-rate structure and bold rate reductions that will directly spur demand and growth.
The BJP and its allies hailed the decision as a "big gift" for the middle class. Prime Minister Narendra Modi stated that the GST reforms aim to ease living for the common man and strengthen the economy.
Addressing the Bharat Nutraverse Expo 2025, the minister said the reduction in GST rates will provide a tremendous and unprecedented boost to consumption demand.
In a major move, the GST Council late Wednesday approved a complete overhaul of the tangled Goods and Services Tax regime, slashing rates on commonly used items ranging from hair oil and corn flakes to TVs, personal health, and life insurance policies.
As per reports, during its two-day meeting this week, the proposals to move various items from the 12% and 18% GST slabs to the 5% slab or to the nil GST category aim to reduce the tax burden on households and boost spending.
GST council is likely to give clarity on whether tax collected at source (TCS) should be deducted by the buyer or the e-commerce platform
It will be the 50th meeting of the Council. Union Finance Minister Nirmala Sitharaman, who heads the Council, will chair the meeting.
Union Finance Minister Nirmala Sitharaman on Monday said the Goods and Services Tax (GST) Council will have to take a…
After chairing the 49th meeting of the GST Council here, the Union finance minister said the pending balance of the GST compensation to the tune of Rs 16,982 crore for June 2022 will be cleared.
The 49th GST Council meeting is likely to take up issues relating to taxation on 'pan masala' and 'gutka' companies
