Indian stock markets ended on a positive note, extending their upward momentum as the market participants reacted positively to the upcoming GST reforms and developments in the Russia-Ukraine peace talks.
The proposed Goods and Services Tax (GST) reforms are set to significantly impact various sectors by reducing tax rates, enhancing affordability, and boosting consumption, said a report by Systematix Research.
The Indian stock markets could see a major boost over the coming year as the government's move to rationalize Goods and Services Tax (GST) is expected to lift growth and sentiment.
In the Independence Day speech from the ramparts of the Red Fort, Prime Minister Narendra Modi announced upcoming next-gen GST reforms before Diwali so as to benefit consumers, small industries and MSMEs.
"For us, reform means the expansion of good governance," said the Prime Minister, emphasising that continuous focus is being placed on reforms. He made the marks during the inauguration ceremony of two major National Highway projects worth a combined cost of nearly Rs.11,000 crore in the nat
"Congress has been saying from the beginning that its (GST) slabs are unjust, and Rahul Gandhi had even called it the Gabbar Singh Tax. Today, the Prime Minister has realised that with the Bihar elections approaching, fearing defeat, he felt that the GST slabs should be reduced... Our opi
"They have proposed two slabs: one 5 per cent and the other 18 per cent. Still, there are multiple slabs till 28 per cent. Eighteen per cent applies to fertilisers and pesticides. So, it might get an exemption in this decision. However, there won't be much in it. We will see when the full sc
Industry body Confederation of Indian Industry (CII) has welcomed the upcoming reforms in Goods and Services Tax (GST) as announced by Prime Minister Narendra Modi from the Red Fort during his Independence Day address to the nation.
Addressing the nation from the ramparts of Red Fort, Prime Minister made several important announcements across sectors including nuclear energy, GST reforms, Reform Task Force, Viksit Bharat Rozgar Yojana, High-Powered Demography Mission, steps towards energy independence and urged youth
Most of the "common man items" are proposed to be moved to the lower GST slab rate of 5 per cent under the GST rationalisation initiative, government sources said on Friday, noting that the Centre will closely engage with states to build a broad-based consensus in the coming weeks.
In a path-breaking initiative relating to the Goods and Services Tax structure, the Central Government has proposed to scrap the current slab of 12 per cent and 28 per cent of GST rates and keep only 5 per cent and 18 per cent GST rates, government sources said on Friday.