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The Group of Ministers (GoM) met on the GST rate rationalisation has ended with the state finance minister accepting the plan of the centre to lessen the multiple tax slabs. The proposal, placed before, aims to replace the current four rates of 5, 12, 18, and 28 per cent with just two main slabs. Before […]
On Wednesday, August 20, 2025, Finance Minister Nirmala Sitharaman is set to address an important meeting with a group of state ministers. During this meeting, she will advocate for significant reforms to the Goods and Services Tax (GST). These proposed changes aim to lower tax rates, which could subsequently result in reduced prices for commonly […]
The Ministry of Finance, in answer to the query in the Lok Sabha, cited that the government has not taken a final decision on lowering the GST on Life Insurance Corporation (LIC) premiums till now. But, the problem is under active consideration by a Group of Ministers (GoM) that has been tasked to compute the […]
Union Finance Minister Nirmala Sitharaman stated that a proposal to reduce the GST on agricultural equipment and inputs is currently being reviewed by a Group of Ministers (GoM). Sitharaman answering the queries on the Finance Bill, 2025 mentioned that a proposal to reduce the GST on farm inputs, including tractors, drip irrigation systems, fertilisers, and pesticides, to […]
Goa CM Pramod Sawant has been selected to conduct a special GOM that will concentrate on exploring the revenue generated from GST. This determination was made during the 55th GST Council meeting, which was held on 21st December, 2024 in Jaisalmer, Rajasthan. The GST council chose that the group ought to be reorganized to sufficiently […]
On the GST rate rationalization, the GoM suggested lowering the tax rates on 20-litre packaged drinking water bottles, bicycles, and practice notebooks to 5%, however, it recommended raising the taxes on high-end wristwatches and shoes, as per the official. According to officials, GoM’s decision on the rate rejig on the GST rate rationalization under Bihar […]
The Group of Ministers (GoM) has the task of easing the structure of the Goods and Services Tax (GST) and for that, the meeting will be conducted on October 20 to deliberate on rate rationalization proposals pertinent to the foods, footwear, and textile items. The reviewed items are in the 12% tax bracket. Bihar Deputy […]
On GST rate rationalization the Group of Ministers (GoM) in its meeting conducted in Goa articulated assistance for diminishing the GST rate on education materials from 12 to 5 per cent relief to a wider portion of the population. The panel arrived to raise the GST rates on textiles and apparel items that cost over […]
In between an ongoing legal battle on the GST application for Joint Development Agreement (JDA) in the real estate sector, the GST Council is anticipated to look into the problems, as the Group of Ministers recommended, on September 9 2024. It is anticipated that a GoM is likely to meet this week. The key terms […]
