Parameshwara said the central government has finally understood the concerns raised by his party, which had long been demanding a cut in Goods and Services Tax (GST), introduced on July 1, 2017.
The central government's decision to reduce the Goods and Services Tax (GST) on cement and steel has been hailed as a game-changing move by leaders from the real estate industry.
Former Union Finance Minister and senior Congress leader P Chidambaram has welcomed the Centre's decision to rationalise GST rates to two slabs, stating that he appreciates the government for "realising" its mistake after eight years of its introduction on July 1, 2017.
The rally returned to Indian equity markets on Thursday as the government's move to rationalize Goods and Services Tax (GST) rates boosted investor sentiment.
Shrivastava said, "Under GST, the problem of inverted duty is being solved in the fertiliser sector, which will enable and encourage the domestic use of fertiliser."
In a post on X, Chidambaram said the current GST design and rates should not have been introduced in the first place, adding that the opposition had repeatedly warned against these issues for years, but their pleas were ignored.
His remark came following the government's announcement of sweeping reductions in Goods and Services Tax (GST) rates on a wide range of essential items, automobiles, agricultural inputs, and electronic appliances.
The GST Council, on Wednesday, after a threadbare discussion, approved significant rate cuts across multiple sectors, which the government has described as a Diwali gift for the nation.
The All India LPG Distributors Federation has appealed Finance Minister Nirmala Sitharaman to reduce the Goods and Services Tax (GST) on LPG Suraksha Hoses (LPG pipes) from 18 per cent to 5 per cent.
Jamnagar (Gujarat) [India], September 3: In a significant move to fuel its growth and enhance manufacturing capabilities, Krupalu Metals Limited, a key player in the brass and copper industry, has announced its Initial Public Offering (IPO) on the SME platform of the Bombay Stock Exchange (B
India's 10-year government bond yield is expected to trade in the range of 6.50-6.60 per cent during September, according to a report by Bank of Baroda.
Health and term insurance premiums may become cheaper if the Goods and Services Tax (GST) Council approves rate cuts at its meeting, which began here on Wednesday.