Itanagar: Prime Minister Narendra Modi on Monday launched a sharp attack on the Congress party, accusing it of ignoring the Northeast region and burdening citizens with heavy taxes during its tenure. Speaking at a public gathering after inaugurating and laying the foundation stones for development projects worth over ₹5,100 crore in Arunachal Pradesh, the Prime...
New Delhi: The GST Council has announced major changes to India’s Goods and Services Tax system, reducing the number of tax slabs to just two — 5 percent and 18 percent — effectively removing the earlier 12 percent and 28 percent slabs. While this move is expected to make many essential goods more affordable for...
Mumbai: Indian stock markets saw a strong surge on Thursday morning following the GST Council’s announcement of a major overhaul to the Goods and Services Tax (GST) system. The 30-share BSE Sensex jumped by 888.96 points to reach 81,456.67, while the 50-share NSE Nifty gained 265.7 points, closing at 24,980.75. The GST Council has simplified...
In a landmark move, the 56th GST Council—chaired by Union Finance Minister Nirmala Sitharaman—has approved a streamlined dual-slab Goods and Services Tax (GST) structure of 5% and 18%, effectively abolishing the existing 12% and 28% tax brackets. The decision, reached during the Council’s two-day meeting from September 3 to 4, has been hailed as one...
A significant reform in India’s Goods and Services Tax (GST) structure is on the horizon. The Group of Ministers (GoM) on GST, chaired by Bihar Deputy Chief Minister Samrat Choudhary, has agreed to the Centre’s proposal to streamline the existing tax system by eliminating the 12% and 28% slabs. This reform is aimed at making...
Finance Minister Nirmala Sitharaman will present the Centre’s proposal on GST rate rationalisation before the Group of Ministers (GoM) during a two-day meeting starting August 20 at Vigyan Bhawan, New Delhi. The meeting, chaired by Bihar Deputy Chief Minister Samrat Choudhary, will take place on August 20 and 21, beginning at 12 noon, according to...
The Government of India has introduced a strategic, three-pillar framework for the next phase of Goods and Services Tax (GST) reforms. This proposal aims to streamline the tax structure, enhance ease of compliance, and support sustainable economic growth. It has been submitted to the Group of Ministers (GoM), constituted by the GST Council, for detailed...