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New Delhi: Finance Minister Nirmala Sitharaman on Wednesday said the next-generation GST reforms is a step towards making India Aatmanirbhar and the central government looks at building consensus with states in the coming weeks. The Centre's proposal on GST reforms is based on three pillars-- structural reforms, rate rationalisation and ease of living, she said. During a meeting with GoMs on rate rationalisation, insurance taxation and compensation cess, Sitharaman "emphasised that the proposal ...Read More >
MUMBAI: The proposed GST reforms, announced by the prime minister to be rolled out by Diwali, halving the current four-rate tax structure into two-tier regime at lower rates, though will lead to an estimated average revenue loss of Rs 85,000 crore per annum, will give a big boost to the for-long sagging consumption story to the tune of Rs 1.98 trillion, a report has said. The current GST structure consists of four main rate slabs: 5, 12, 18 and 28%. These rates apply to most goods and services. ...Read More >
New Delhi, Aug 20 (SocialNews.XYZ) In a move aimed at making insurance more affordable, the Group of Ministers (GoM) on insurance proposed a complete exemption of GST on health and life insurance premiums, Bihar Deputy Chief Minister Samrat Choudhary said on Wednesday. The proposal, if accepted, could improve insurance penetration in India's largely underinsured market. Bihar Deputy Chief Minister Samrat Choudhary, who is a member of the GoM, confirmed that the recommendation will now be place ...Read More >
VISAKHAPATNAM: The depression over northwest and adjoining west-central Bay of Bengal and north Andhra Pradesh - south Odisha coasts moved north-north-westwards and crossed South Odisha coast close to Gopalpur during early morning of Tuesday and lay cantered over south coastal Odisha. Weatherman said it was likely to move north-westwards across south Odisha and south Chhattisgarh and weaken into a well-marked low-pressure area during next few hours. Under its influence, thunderstorms accompani ...Read More >
New Delhi, Aug 19 (PTI) The Samyukt Kisan Morcha on Tuesday opposed a government notification allowing duty-free import of raw cotton till September 30, calling it a death warrant for cotton framers across the country. In a statement issued here, the amalgam of farmer unions accused Prime Minister Narendra Modi of "duplicity and betrayal". "The government has said that the elimination of import duty on cotton as well as Agriculture Infrastructure Development Cess (AIDC) is necessary in the pub ...Read More >
NEW DELHI, Aug 15 (Reuters) - Indian Prime Minister Narendra Modi said on Friday the goods and services tax (GST) would be reformed and taxes lowered by Diwali, the Hindu festival of lights, set to be celebrated in October this year. "This Diwali, I am going to make it a double Diwali for you. Over the past eight years, we have undertaken a major reform in goods and services tax. We are bringing next-generation GST reforms that will reduce the tax burden across the country," he said during a sp ...Read More >
New Delhi, Aug 18 (PTI) Amid concerns about the revenue impact of the Centre's pro-middle-class 'Next Gen GST' with a proposed two-slab structure, government sources clarified that the Centre is an equal partner in revenue sharing with the states and that its proposal anticipates a revenue boost over time, driven by increased consumption. Under the current Goods and Services Tax (GST) framework, revenues are shared equally between the Centre and the states. Additionally, 41 per cent of the Cent ...Read More >
New Delhi, Aug 18 (PTI) The 18 per cent tax slab is expected to remain the major contributor to GST revenues if the Centre's proposal for a two-tier GST structure and a special 40 per cent rate is implemented, according to a source. At present, the Goods and Services Tax (GST) follows a four-tier structure with rates of 5 per cent, 12, 18, and 28 per cent. Food and essential items are either exempt or taxed at 5 per cent, while luxury and sin goods attract the highest rate of 28 per cent. The ...Read More >
India's UPI system, despite its global success, faces backlash as small vendors receive GST notices based on digital transaction data. This has led to a shift back to cash transactions, with vendors fearing tax scrutiny. Concerns rise that aggressive formalisation efforts may push the informal economy further underground, undermining the goals of financial inclusion and transparency. By all official accounts, India's digital payments revolution is a runaway success. The Unified Payments Interfa ...Read More >
New Delhi: Goods and services tax (GST) collections rose 7.5% to Rs 1,95,735 crore in July, showing signs of a pick-up from the previous month, although the growth was slower than a year ago.According to the latest official numbers, collections from domestic sources in July, based on transactions in June, were 6.7% higher at a little over Rs 1.4 lakh crore. Those from imports were better, rising 9.7% to Rs 52,712 crore. In recent months, the domestic source has been weak, which is also visible i ...Read More >
Chennai, August 1: Actor, music director and producer G V Prakash Kumar, who has won the National Award for Best Music Direction (Songs) for the Tamil, Telugu bilingual film Vaathi, has called the honour "a blessing for the second time". Taking to his X timeline soon after the 71st National Awards were announced, G V Prakash expressed his gratitude to the jury and the selection committee of the National Awards and the entire team of Vaathi. G V Prakash wrote, "A blessing for the second time. I' ...Read More >
India's Goods and Services Tax (GST) revenue data for July 2025 may appear stable on the surface, but a closer look reveals troubling undercurrents that demand urgent policy attention. While gross GST collections rose 7.5% year-on-year to ₹1,95,735 crore, this growth is disproportionately fueled by imports, masking a worrying stagnation in domestic consumption and exposing structural inefficiencies in the tax system. The 7.5% overall rise is largely driven by a 9.7% increase in GST revenue from ...Read More >
New Delhi: Delhi govt has announced a city-wide rollout of underground electric wiring as part of a Rs 100-crore initiative. The move aims to ensure a safer, cleaner and uninterrupted power supply for residents across the capital, chief minister Rekha Gupta said on Saturday while launching the city's first pilot project of underground wiring in Shalimar Bagh.Gupta said the work at her constituency Shalimar Bagh would be completed in approximately three months. At least 5,500 families residing in ...Read More >
NEW DELHI, July 12: The Goods and Services Tax (GST) Council is expected to meet soon to review the tax regime. This could be the most significant review since the scheme was announced on July 1, 2017, eight years ago. According to reports, a sweeping reassessment of tax rates on consumer goods, which are currently taxed at the highest slab, and compensation cess might be among the top agenda items of the forthcoming meeting. Moving pure term insurance policies from the current 18 per cent rat ...Read More >
SRINAGAR, July 11: Director General of Police (DGP), J&K, Nalin Prabhat today chaired a high-level security review meeting in South Kashmir to assess the arrangements for the ongoing Shri Amarnathji Yatra. The meeting was attended by DIG South Kashmir Range Javed Mattoo, SSPs of South Kashmir districts, and senior officers from the Indian Army, CRPF and BSF. Addressing the meeting, the DGP lauded the dedication of all security forces in ensuring the safe conduct of the Yatra. He stressed the ...Read More >
NEW DELHI: The GST Council, which will meet shortly, is expected to comprehensively review the eight-year-old regime focused on reducing tax on several consumer-focused items in the 12% bracket as well as lowering the burden on items such as air conditioners, which are in the top bracket.Besides, with the compensation cess - money released to states to offset any revenue loss because of switch to GST - due to end in March, a plan on imposing a cess on some of the sin goods, such as tobacco, is a ...Read More >
Srinagar, Jul 3 (PTI) The annual Amarnath Yatra began on Thursday with the first batches of pilgrims setting off from the twin base camps in Baltal and Nunwan towards the 3880-metre-high cave shrine in the south Kashmir Himalayas, which houses a naturally formed ice-lingam, officials said. The yatra started early morning from the twin tracks -- the traditional 48-km Nunwan-Pahalgam route and the 14-km Baltal route. The batches of pilgrims, including men, women and sadhus, left from the Nunwan ...Read More >
New Delhi: Cigarettes, carbonated drinks, and high-end cars are among items that may become more expensive if a proposal to replace the expiring compensation cess - in the Goods and Services Tax system - with cesses on health and clean energy, targeting tobacco products and automobiles, is passed. The Health Cess will apply to 'sin goods' - referring to products usually taxed at higher rates due to their perceived negative impact on society - and others in the higher 28 per cent GST bracket. Th ...Read More >
New Delhi [India], July 1 (ANI): The Goods and Services Tax (GST) collection in June rose over 6.2 per cent to over 1.85 lakh crore compared to about 1.74 lakh crore in the same period last year, according to official data released on Tuesday. However, June's GST collection decreased from May's Rs 2.01 lakh crore and after a record collection of Rs 2.37 lakh crore in April 2025. In the month of June, collections of Central-GST, State-GST, Integrated-GST, and cess all rose year-on-year. The do ...Read More >
New Delhi, Jul 1 (PTI) Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June, as per government data released on Tuesday. Gross GST collections during the same month a year ago was Rs 1,73,813 crore. During the last month, the Goods and Services Tax (GST) collection was Rs 2.01 lakh crore. The GST collection touched a record high of Rs 2.37 lakh crore in April this year. In June, gross revenues from domestic transactions rose 4.6 per cent to about Rs 1.38 lakh cr ...Read More >
New Delhi, Jul 1 (PTI) Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June, as per government data released on Tuesday. Gross GST collections during the same month a year ago was Rs 1,73,813 crore. Also Read | Nasscom Talent Council Unveiled To Build Future-Ready and Globally Competitive Digital Workforce in India, Satish HC Appointed As Chair. During the last month, the Goods and Services Tax (GST) collection was Rs 2.01 lakh crore. The GST collection touched ...Read More >
New Delhi, Jul 1 (PTI) The focus of the Goods and Services Tax (GST), which completes eighth year on Tuesday, will now be on promoting ease of doing business, ensuring stronger compliance and fostering broader economic inclusion, the finance ministry said. The GST, which was implemented from July 1, 2017, has unified 17 taxes and 13 cesses, creating a seamless national market by simplifying compliance and digitising tax systems. It has also expanded the taxpayer base and strengthened cooperativ ...Read More >
Bhopal: A search by the Meghalaya police in a flat of father-in-law of Shalom James, an Indore-based property dealer arrested on charges of destroying evidence in the killing of Raja Raghuvamsi allegedly by his wife Sonam during their honeymoon in Shillong last month, in Ratlam in Madhya Pradesh, has yielded a laptop, a pen drive, jewelry and incriminating documents, believed to be belonging to the couple, sources said on Monday. The search was conducted in the flat of Manoj Gupta, father-in-la ...Read More >
New Delhi: With the completion of eight years, implementing the goods and services tax (GST) -- one of the country's biggest tax reforms, India has broken all the stereotypes by showcasing a perfect balance between Centre and state administrations and coming together to make decisions and resolve issues as well. Back on July 1, 2017, the GST was rolled out with a promise that the country will bring 'one nation, one tax' by merging various indirect taxes under one umbrella. As of today, it is pa ...Read More >
New Delhi, May 23 (PTI) The GST Council is likely to meet soon to discuss rate simplification and rationalisation and the future of compensation cess, according to a source. "There are three or four different aspects relating to making GST simpler. We will take up the issue of compensation cess, rate rationalisation and simplification," the source said. The GST Council, chaired by Union Finance Minister and comprising state counterparts, in its meeting in December last year, did not take up th ...Read More >
The GoM on GST has proposed raising taxes on sin goods like cigarettes, tobacco, and aerated beverages to 35% from the current 28%, impacting stocks like ITC and Godfrey Phillips. (Read more below) The Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalization has proposed significant changes to tax rates, sparking debates and market reactions. Among the headline recommendations is a steep tax hike for sin goods like aerated beverages, cigarettes, and tobacco products, raisin ...Read More >
NEW DELHI: Lieutenant governor VK Saxena has given his approval to the reconstitution of Delhi Building and Other Construction Workers Welfare Board, paving the way for govt to prepare a scheme to provide compensation to the construction workers who lost work due to the implementation of GRAP IV provisions. The board was not in place for the last couple of years. While giving his nod to its reconstitution, LG directed that immediate steps should be taken to implement Supreme Court directions to ...Read More >
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