Prices of everyday goods and services could start to come down in the coming days, as recent cuts in indirect taxes by the government begin to show their effect, according to a report by Bank of Baroda (BoB).
India could move towards a single Goods and Services Tax (GST) rate structure once the country achieves income parity across different segments of society, Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal said in an exclusive interview.
According to him, the revision of GST slabs and reduction of taxes on essential products will give a significant boost to the Indian economy, propelling it to new heights in the market.
While addressing a press conference in the national capital, the Union Commerce Minister said that under the Congress regime, multiple taxes were imposed including the Value Added Tax and Central Tax, however, PM Modi's government aims to simplify the taxation system for ease of doing bus
Commerce Minister Piyush Goyal today said that the latest reforms in the Goods and Services Taxes (GST) in the Pharma sector are huge demand boosters and will benefit both the industry and the end consumers.
Sanjeev Sanyal, an economist and a member of the Prime Minister's Economic Advisory Council, on Thursday termed the new GST reforms as logical, explaining that the new tax slabs on various goods are easily relatable.
He mentioned that the Congress party had been advocating for reforms in GST for a decade. Kharge claimed that the GST introduced under the NDA government included Tax Slabs of 0%, 5%, 12%, 18%, 28% followed by special rates of 0.25%, 1.5%, 3%, and 6%.
Congress leader Priyank Kharge on Thursday criticised the Centre's recent GST reforms, and said that the "One Nation, One Tax" had turned into "One Nation, 9 Taxes."
Brazil's President Lula said his government will not immediately retaliate against US tariffs and seeks trade talks with President Trump. While the US imposes 50% taxes on Brazilian exports, Brazil is exploring legal measures but prioritizes negotiation, emphasizing it will not compromise it
The judges noted that Trump's unprecedented tariffs are an overstep of his power because the ability to impose taxes, including tariffs, is "a core Congressional power" that the Constitution grants to the legislative branch.
"I received a notice from Delhi CGST to pay tax of Rs 3 crores. Someone has misused my PAN card and set up enterprises in my name. They have done a clothing business worth Rs 17 crores. They didn't pay taxes. But I was sent a notice. No one has contacted me since I received this notice. Howe