"Poor people, unaware of the quality of the product, buy the cheaper product from the market. Beneficiaries of the Ujjwala scheme need protective hoses the most, but they will be able to afford them only if the price is lower. Because of the 18 per cent GST on it, the price increases signifi
In a major reform aimed at providing relief to households, farmers, businesses and the healthcare sector, Finance Minister Nirmala Sitharaman on Wednesday announced a sweeping reduction in Goods and Services Tax (GST) rates on a wide range of essential items, automobiles, agriculture inpu
In a significant simplification in the GST regime, which will benefit the common man, Finance Minister Nirmala Sitharaman on Wednesday announced consolidation of 12% and 18% slabs into a dual rate structure of 5% and 18% besides 40% for sin goods.
"We are supporting the move of the Prime Minister. Assam's view is to lower GST to 5% and 18%. We will completely support the decision of the Government of India," Sarma said while speaking to the reporters here.
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.
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.
The two-day meeting, being held on September 3 and 4, is expected to bring significant changes to India's indirect tax structure, with discussions centred around rationalising and reducing the number of GST slabs.
He also expected that the two-slab structure would simplify tax compliance and reduce the burden. The proposed GST structure includes two slabs: 5% and 18%. This aims to streamline the current four-slab system, which provides for rates of 5%, 12%, 18%, and 28%.
Indian stock markets opened almost flat on Wednesday as investors waited for the outcome of the Goods and Services Tax (GST) Council meeting, where crucial decisions on GST rates are expected.
The 56th meeting of the Goods and Services Tax (GST) Council is set to begin in the national capital tomorrow, spanning two days from September 3 to 4.
The upcoming next-generation Goods and Services Tax (GST) reforms will further simplify tax processes and reduce compliance burdens, particularly for small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
The case underscores the risks of systemic loopholes in digital governance and highlights the need for stronger safeguards in GST migration procedures.