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The GST council, in its forthcoming 57th GST meeting, may focus on additional revisions to facilitate the procedure and policies. In the next meeting of the GST council, the process of registration, refund, and audit can be facilitated, a Finance Ministry official stated. The latest provisions for direct taxes in the Finance Bill are directed […]
Recently, the 56th GST council has made some important changes to help businesses, especially in the fast-moving consumer goods (FMCG) sector. One key change is that credit notes are no longer directly linked to invoices. This adjustment is aimed at reducing confusion for companies and sellers when they handle these documents. Overall, it’s a step […]
In today’s meeting, the Goods, Services Tax Council, led by Finance Minister Nirmala Sitharaman, will discuss a shift to a two-slab system anticipated to lessen the costs of daily items by rationalising and reducing the brackets under which most goods are taxed. Below Are the Updates Recommendations on rate rationalisation, which Prime Minister Narendra Modi […]
The 56th GST Council meeting in New Delhi, chaired by Finance Minister Nirmala Sitharaman, focused on amending GST slabs, easing compliance, and executing next-generation GST reforms. FMCG, auto, and cement sectors are expected to benefit under the proposed tax cuts, ensuring relief for consumers. The first day of the meeting on 3rd September revolved around […]
The Goods and Services Tax Council, led by Finance Minister Nirmala Sitharaman, is likely to roll out new tax slabs for goods by September 22, according to information from government sources shared with NDTV. On August 15, Prime Minister Narendra Modi announced that bring next-generation GST reforms that will facilitate tax load on the country. […]
In the upcoming Phase of GST reforms, the GST council may propose to introduce a 12% Goods and Services Tax (GST) across the textile value chain, as per sources. It is the Centre’s plan that may create part of the Group of Ministers’ (GoM) rate rationalisation report. It sought to rectify the inverted duty structure […]
Everyone is looking forward to the upcoming 56th GST Council meeting, where important changes to tax rates are likely to be discussed. Finance Minister Nirmala Sitharaman has suggested that there will be efforts to make the Goods and Services Tax (GST) system easier to understand and follow. It seems that some tax rates may be […]
In breach of Rule 6 of GST in its procedure, the GST council has gone over 5 months without a meeting, and the conduct of Business Regulations, which specifies quarterly meetings. On December 21, 2024, the last 55th GST Council meeting was held, which was conducted in Jaisalmer, specifying that the forthcoming meeting will be […]
Finance Minister Nirmala Sitharaman mentioned that the GST Council will proceed with the decision to have fewer and lower rates, as the review work is on track for completion. Goods and Services Tax (GST) is a four-tier tax structure with slabs at 5, 12, 18 and 28 per cent. Luxury and demerit goods are levied […]
