Almost all items currently in the 12 per cent category will move to the 5 per cent slab. A key meeting of the Group of Ministers (GoM) on GST rate rationalisation on Thursday ended with state finance ...

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The Group of Ministers (GoM) on GST rate rationalisation on Thursday accepted the Centre’s proposal to restructure the indirect tax system by reducing the number of slabs to two ie 5 percent and 18 ...

Hyderabad: India’s multi-tier GST was meant to be a landmark in tax transparency. Instead, years of ambiguous rate schedules and frequent slab changes have provided opportunistic businesses with ...

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 ...

While delivering his Independence Day address on 15 August, Prime Minister Narendra Modi announced the long-overdue goods and service tax (GST) reforms. He promised a "double Diwali’ this year, ...

The Government's plan to simplify GST structure by replacing the existing four-slab GST system with a simpler two-slab GST system is set to bring considerable relief to consumers. Lower tax rates are ...

Economists believe that the government's proposed GST rationalisation will bolster domestic consumption, providing crucial support to the Indian economy amidst global headwinds like US tariffs. The ...

A Group of Ministers (GoM) has accepted a proposal to streamline the GST rate structure, reducing it from four slabs to two. The existing 12% and 28% rates would be eliminated, leaving standard rates ...

The proposal, placed before the six-member GoM led by Bihar Deputy Chief Minister Samrat Choudhary, aims to replace the current four rates of 5, 12, 18 and 28 per cent with just two main slabs. Today ...

The Centre’s proposal to move a majority of goods and services from the 12 percent Goods and Services Tax (GST) slab to 5 percent may lead to an annual revenue loss of around Rs 80,000 crore, ...