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News india ‘Very Positive Impact’: PM Modi Hails ‘Greater Decriminalisation’ In GST, Says Reforms Will Cut Compliance Costs Last Updated:October 08, 2026, 9:27 pm IST One of the biggest changes proposed by the GST Council is the removal of the power of arrest under GST. The prosecution threshold will also be raised from Rs 1…
News business tax GST Council Scraps Tax Officers’ Arrest Power, Raises Prosecution Limit To Rs 5 Crore Last Updated:October 08, 2026, 9:11 PM IST The GST Council has scrapped tax officers’ arrest powers and raised the prosecution threshold from Rs 1 crore to Rs 5 crore. Union Finance Minister Nirmala Sitharaman (Credits: ANI) Union Finance…
News business tax GST Council Makes Closing A Business Automated: What Small Taxpayers Need To Know Last Updated:October 08, 2026, 7:43 PM IST GST Council proposes automated business closure for smaller taxpayers, saying 90% of cancellation applicants pose low revenue risk. Union Finance Minister Nirmala Sitharaman (Credits: ANI) The 57th meeting of the GST Council…
New Delhi: Life Insurance Corporation CEO & Managing Director R. Doraiswamy said on Thursday that the company has passed on the full benefit of the recent Goods and Services Tax (GST) exemption to its customers. In a statement after the LIC’s Q2 results, Doraiswamy said: “We at LIC have ensured that all intended benefits of…
Last Updated:October 28, 2025, 06:30 IST The Centre will launch a new GST registration system from November 01, 2025, simplifying processes for small businesses. GST 2.0 became effective from September 22. The Centre will introduce a new GST registration system from November 01, 2025, aimed at simplifying the registration process for small businesses and public…
New Delhi: The rollout of GST 2.0 has given a strong push to India’s two-wheeler market, with vehicle registrations in October touching 1.85 million units — the highest monthly tally so far this year — according to data from Vahan. The surge reflects the combined impact of the recent GST rate rationalisation and robust festive…
New Delhi: India’s leather and allied products industry is projected to experience a 10–12 per cent revenue decline in current fiscal following the United States’ tariffs, a report said on Thursday, adding that free trade agreement (FTA) with the UK and GST cuts will provide some relief to leather exporters. The revenue drop would be…
New Delhi: Economists on Tuesday said the GST 2.0 reforms are set to create new Diwali shopping records in the country as purchasing power has considerably gone up while inflation has come down to a historic low. The reduction in GST has put more money in people’s hands and when purchasing power increases, inflation automatically…
New Delhi: Global professional services firm EY on Monday raised India’s real GDP growth projection to 6.7 per cent — up from its earlier estimate of 6.5 per cent, owing to robust GST 2.0 reforms. The upward revision reflects expectations of monetary easing and stronger domestic demand from GST rate rationalisation amid global uncertainties, according…
New Delhi: The rollout of GST 2.0 rate cuts is set to bring direct relief to Delhi households by lowering their day-to-day expenses. At the same time, the move is expected to boost the city’s economy, as MSMEs, traders, and the hospitality sector gain from reduced input costs, stronger demand, and improved competitiveness. Widespread Impact…