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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 […]
Prime Minister Narendra Modi has chaired a high-level meeting with senior ministers, secretaries, and economists to discuss the roadmap for ‘next-generation reforms’ and a modification of GST laws. The Prime Minister shared a post on X, saying, “Chaired a meeting to discuss the roadmap for Next-Generation Reforms.” “We are committed to speedy reforms across all […]
The amended GST structure may overhaul the categorisation of passenger vehicles and the tax slabs under which they fall, thereby reducing the burden on entry-level cars. The move aims to address distortions that have developed in the auto tax structure over the years. At present, most items are taxed at 28%, but the proposal is […]
In February 2026, India will launch its first-ever nationwide Household Income Survey, providing policymakers with comprehensive and direct data on household earnings from business, salaries, agriculture, investments, and informal sector jobs. The initiative’s motive is to address a long-standing gap in income, inequality, and taxation statistics in the country. The Ministry of Statistics and Programme […]
With the easier compliance and supported business growth of the new tax regime, India Inc. has had an overall positive experience with the Goods and Services Tax (GST) over the past eight years; however, transparency in norms and effective dispute resolution are still necessary. Deloitte India’s GST@8 survey highlighted the importance of having better ways […]
Union Road Transport Minister Nitin Gadkari has called for a reduction in the GST on crude ethanol from the current 18% to 5%, in a bid to support the production and adoption of flex-fuel vehicles, as the Centre and states prepare for major amendments to India’s Goods and Services Tax (GST) framework. A concessional GST […]
Before the 56th meeting of the Goods and Services Tax Council, the Industry body CII aimed early conclusion of the rate rationalisation process in a meeting with Finance Minister Nirmala Sitharaman. In the additional GST reforms, the industry body recommended considering all petroleum products under GST, relaxations in the ITC to facilitate the working capital […]
A new report by Kearney and the Confederation of Indian Industry (CII) states that the cost competitiveness of the mining and construction equipment (MCE) sector should be improved by rationalising Goods and Services Tax (GST) and import duties, which is crucial for the sector’s growth. This arises because of the discrepancy in the GST structure […]
