New Delhi: India’s Goods and Services Tax (GST) revenue soared to ₹1.89 lakh crore in September — the highest in four months and 9.1% higher than last year’s figures. This is also the ninth consecutive month that GST collections have stayed above the ₹1.8 lakh crore mark, signaling strong economic momentum. Interestingly, fears that speculation Read More…
Prime Minister Narendra Modi on Thursday promised that India’s citizens will see their tax burden ease further as the nation’s economy grows stronger. Inaugurating the UP International Trade Show, Modi assured that GST reforms will continue, ensuring more savings and disposable income for people. Highlighting key reforms, the PM noted that the government has already Read More…
Thiruvananthapuram: Kerala Finance Minister K.N. Balagopal has raised red flags over the state’s fiscal health following the rollout of the new GST 2.0 regime, warning that the move could significantly dent state revenues. While the tax overhaul — which trims GST to just two slabs, 5% and 18%, with a 40% sin tax on luxury Read More…
New Delhi: Union Home Minister Amit Shah has lauded the rollout of GST 2.0 reforms, calling them a transformative step that strengthens the economy while directly benefiting the poor, farmers, and middle-class families. The revamped tax system, which simplifies GST into just two slabs — 5% and 18%, is expected to enhance purchasing power, ease Read More…
New Delhi: India’s new Goods and Services Tax (GST 2.0) regime came into effect today, ushering in major price cuts on everything from biscuits, soaps, ghee, and butter to automobiles. Prime Minister Narendra Modi, addressing the nation on Sunday evening, hailed the reform as a “GST Savings Festival” and a crucial step towards Atmanirbhar Bharat. Read More…
New Delhi: Finance Minister Nirmala Sitharaman has highlighted that nearly ₹2 lakh crore is now staying with the people due to GST reforms, strengthening domestic consumption and giving a fresh boost to the economy. Explaining the impact, she said the government is not taking this sum as taxes, allowing it to remain with citizens and Read More…
Facing mounting fiscal pressure from U.S. trade tariffs and the recent GST slab rejig, the Kerala government has urged the 16th Finance Commission to reassess its financial outlook and resource needs for the next five years. In its submission, the State sought supplementary grants under Article 275 and an extra borrowing limit of 0.5% of Read More…
From September 22, 2025, India’s new GST 2.0 reforms will slash taxes on several dairy products — with UHT milk and packaged paneer moving from 5% to zero tax, and butter, ghee, cheese, and milk-based beverages brought down to 5%. While this raises hopes of cheaper dairy products, Amul has clarified that the price of Read More…
Thiruvananthapuram: Kerala Finance Minister K. N. Balagopal has sounded a warning that states may face a “demonetisation-style fallout” if the Centre proceeds with restructuring the Goods and Services Tax (GST) system without ensuring compensation. Minister cautioned that such a move, without adequate safeguards, could place severe financial strain on state economies. Balagopal urged the Union Read More…
Kerala Finance Minister K. N. Balagopal has raised serious concerns over the impact of the proposed GST reforms on state finances, warning that the changes could push Kerala into a severe fiscal crisis unless protective measures are introduced. According to Balagopal, the state is staring at a direct annual revenue loss of around ₹2,500 crore Read More…