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New Delhi: The upcoming changes to the Goods and Services Tax (GST), likely to be announced on Thursday, should trigger a decisive, consumption-led turn in India’s growth cycle, a report said on Wednesday. This adds to earlier stimulus measures like welfare spending and monetary easing, and has secondary benefits like formalisation. According to Emkay Global…
New Delhi: GST Council Meeting Today: The 56th meeting of the GST Council will kick off on Tuesday. The 2-day meet between September 3-4 is expected to start at 11 am today. The GST Council will decide on the Group of Minister’s (GoM) proposal to retain two slabs — 5 percent and 18 percent. As…
Chennai: Union Finance Minister Nirmala Sitharaman said on Tuesday that the next generation GST reforms will create an open and transparent economy, reduce compliance burdens, and benefit small businesses. Speaking at the 120th Foundation Day celebrations of City Union Bank in Tamil Nadu, the Finance Minister emphasised that Prime Minister Narendra Modi announced the creation…
New Delhi: Gross GST collection in August rose 6.5 percent year-on-year to Rs 1.86 lakh crore, supported mainly by stronger domestic revenue, according to government data released on Monday. In comparison, gross GST collection stood at Rs 1.75 lakh crore in August 2024, while July 2025 had recorded a higher figure of Rs 1.96 lakh…
New Delhi49 minutes ago Copy link Yesterday’s big news was related to the textile sector. The government has extended the duty-free import of cotton (cotton) by three months. Now textile businessmen will be able to ask for cotton from outside without import duty by 31 December. Earlier, the government gave its exemption from 19 August…
Indian consumers are set to receive a significant boost as the government moves towards simplifying the Goods and Services Tax (GST) structure by reducing the number of tax slabs and lowering rates on several key items. The proposed overhaul aims to rationalise rates by migrating from the current four-tier structure to a simplified two-tier system….
New Delhi: The Goods and Services Tax Council is stipulated to meet on September 3. In its meeting the GST Council is likely discuss ending the compensation cess by October 31, says an IANS news report. The GST compensation cess was set to end on March 31, 2026. Discussions, however, have started to conclude the…
New Delhi: The All India Consumer Products Distributors Federation (AICPDF), the apex body representing FMCG distributors, has urged the government to issue clear guidelines on the proposed GST reforms to avoid trade disruptions and pricing confusion. The appeal comes after the Group of Ministers (GoM) approved the Centre’s recommendation for a simplified two-slab GST structure….
New Delhi: Finance Minister Nirmala Sitharaman is expected to present the Centre’s plan to simplify GST rates before a Group of Ministers (GoM) at a two-day meeting starting August 20 in Delhi. The GoM, led by Bihar Deputy Chief Minister Samrat Choudhary, will meet in person at Vigyan Bhawan on August 20–21, beginning at 12…
New Delhi: The government’s plan to simplify and streamline GST rates is expected to have a manageable impact on the country’s finances. According to a report by UBS, the proposed GST rate rationalisation could lead to a revenue loss of around Rs 1.1 trillion per year — roughly 0.3 per cent of India’s GDP. Despite…