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Central govt's revenue loss due to GST rate reduction will be Rs 3700 cror
Updated : 9 months ago IST
The revenue loss of the central government due to the recent GST rate reduction will be around Rs 3,700 crore in FY26, as higher growth and a boost in consumption have reduced the impact on revenues, according to a report by the State Bank of India (SBI).
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Piyush Goyal slams Opposition's 'better late than never' swipe at GST reva
Updated : 9 months ago IST
Reacting to the Opposition's 'better late than never' swipe at the latest Goods and Services Tax revamp, Union Minister of Commerce and Industry Piyush Goyal said these remarks only demonstrate their ignorance. He said that Prime Minister Narendra Modi made the GST a success story over the
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Entire GST rate reduction benefit will be passed on to common man: Union M
Updated : 9 months ago IST
Union Minister of Commerce and Industry Piyush Goyal has assured that the benefits of the reduction in Goods and Services Tax (GST) rates will be fully passed on to the common man, with industries across all sectors committing to implement the reforms in letter and spirit.
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"Revolutionary reforms": Union Minister G Kishan Reddy lauds tax reduction
Updated : 9 months ago IST
According to the Ministry of Finance, coal previously attracted a 5 per cent GST, along with a Compensation Cess of Rs 400/ton, prior to the rate rationalisation.
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'Decision not just for Bihar, but for whole country': MoS Finance Pankaj C
Updated : 9 months ago IST
Union Minister of State (MoS) for Finance, Pankaj Chaudhary, took a jibe at the Opposition and said that the move to rationalise GST rates to two slabs of 5 per cent and 18 per cent has not been brought for the Bihar Assembly polls.
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"Just being compared, I saw it as a huge privilege": South Africa's Dewald
Updated : 9 months ago IST
South African batting sensation Dewald Brevis, fondly nicknamed 'Baby AB', says being compared to AB de Villiers has always been a privilege rather than a burden.
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"What Rahul Gandhi says is right, the govt takes time to accept his sugges
Updated : 9 months ago IST
The 56th GST council meeting decided to rationalise GST rates to two slabs of 5 per cent and 18 per cent by merging the 12 per cent and 28 per cent rates.
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Gujarat: CM Bhupendra Patel thanks PM Modi for major tax reductions on goo
Updated : 9 months ago IST
On behalf of the people of Gujarat, Chief Minister Bhupendra Patel thanked Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for significantly reducing GST rates on essential goods and services of daily use.
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"Will be helpful for middle class; economy will be booming": Union Ministe
Updated : 9 months ago IST
"This will be very helpful for the middle class in the coming times. When there will be savings, they will be able to invest in other places, so in the coming times, this will bring a huge boost to the economy. I thank the Prime Minister," the Union Minister said here, thanking Prime Ministe
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New dual-rate GST version a revolutionary, people-oriented step: Assam BJP
Updated : 9 months ago IST
"As a result, more money will remain in the hands of the common people, thereby increasing their purchasing power," Mahanta said according to a statement.
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"Eight years too late": Chidambaram on Centre's GST reforms
Updated : 9 months ago IST
"I welcome the reduction. The other truth is that it has been done eight years too late. We have always advocated a single rate, with a small plus or minus. This is a huge progress over the six or seven rates they had. In the course of time, I believe, it will come down to a single rate,"
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New GST version replacing four-rate structure revolutionary, people-orient
Updated : 9 months ago IST
In a statement, Assam BJP Spokesperson Debojit Mahanta stated that nearly 99 per cent of goods currently taxed at 12 per cent GST would now come under 5 per cent GST. As a result, more money will remain in the hands of the common people, thereby increasing their purchasing power.
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