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Textile Units Under GST Scrutiny for Misclassifying Services

GST Department Probes Textile Firms for Service Misclassification

In recent months, the Central Goods and Services Tax (CGST) officials have scrutinized more than 2 dozen textile manufacturing companies in the nation concerning misclassifying textile processing activities and subsequently paying lesser tax. As per the officials, the CGST department has noted that various textile manufacturers are recording activities that involve ‘changing the nature of […]

'No Increase': FM Sitharaman Dismisses Concerns Over GST Hike

FM Dismisses GST Hike Concerns, Highlights Reduction in Rate from 15.8% to 11.3%

Finance Minister Nirmala Sitharaman dismissed concerns about any rise in Goods and Services Tax (GST) rates, asserting that not even one item has seen a rise since the introduction of the GST regime. While addressing the question hour in the Rajya Sabha, she mentioned that the GST rates have been lessened, drawing the average rate […]

Key Insights of New Income Tax Bill 2025

New Income Tax Bill 2025: Features and Benefits

To ease and modernize the tax system of India the new income tax bill 2025 is a bigger step. The bill which was announced by Finance Minister Nirmala Sitharaman, has the motive to ease tax compliance, lessen disputes, and improve clarity in taxation. It introduces a “Trust First, Scrutinize Later” approach, highlighting taxpayer confidence while […]

GST Rate Rationalization and Simplification Efforts May Begin Soon: FM Sitharaman

GST Council to Discuss Soon Rates and Number of Slabs: FM Sitharaman

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 […]

Top Mistakes to Avoid When Using the GST Rate List

Avoid 8 Errors Before Applying GST Rates to Your Product

The indirect tax structure in India has been streamlined by the Goods and Services Tax (GST) however the making of the GST rate list has provided complexities for companies and individuals alike. The GST rate list cites the tax fees for special items and services, varying from 0 to 28 per cent. The SAG Infotech […]

Is 18% GST Rate Applicable on 'Loss Margin' in EV Resale? Find Out

GST Confusion: Are You Liable to Pay 18% Tax on EV Resale or Not?

The decision of the Goods and Services Tax (GST) Council to charge an 18% tax on the resale of used electric vehicles (EVs) has made confusion. The explanation Finance Minister Nirmala Sitharaman who directed a tax on the margin value of resales has recommended that individuals selling their used cars shall be obligated to tax. […]

GoM Suggests Lower GST on Packaged Water, Bicycles, and Notebooks, and an Increase on Watches and Shoes

GoM Proposes GST Hikes on Watches, Shoes and Reductions on Packaged Water, Bicycles, and Notebooks

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 […]

54th GST Council Meeting

54th GST Council Meeting: Cancer Drugs, Insurance, Car Seats

The 54th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and attended by state finance ministers and tax officials, concluded with several key recommendations. Additionally, the GST rate on small digital transactions (PAs) is to be discussed at the next meeting. Additionally, the current 18 per cent GST rate on life and health […]

Reduced GST Rate for Insurance May Include Limitations

GST Rate Lower on the Insurance Policy up to ₹50K is Likely to Come with Caps

The council that suggests the GST rates may suggest a lower levy on health and life insurance policies with annual premiums up to Rs 50,000 to lessen the cost for lower and middle-income groups. The fitment committee might suggest placing a cap on the maximum amount assured to lower the GST levy or a combination […]

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