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…
New Delhi: Finance Minister Nirmala Sitharaman has voiced confidence that India’s fiscal deficit target of 4.4% of GDP (₹15.69 lakh crore) for FY 2025-26 will be met, despite a projected revenue shortfall of ₹48,000 crore. The government is banking on a spurt in consumer spending, especially after the rollout of the new GST regime, to Read More…
New Delhi: Kerala Finance Minister K. N. Balagopal has issued a stern warning to companies, insisting that the benefits of recent GST rate cuts must directly reach consumers. Speaking after the reforms, he cautioned that the state will closely monitor prices to ensure businesses don’t pocket the gains while ordinary people lose out. Highlighting the Read More…
New Delhi: Prime Minister Narendra Modi has lauded the GST Council’s unanimous approval of sweeping tax reforms, calling it a landmark step to ease the lives of citizens and boost business confidence. The Council has introduced a simplified two-tier GST structure of 5% and 18%, replacing the earlier four slabs, while retaining a 40% levy Read More…
Car buyers in India have reason to cheer as GST 2.0 ushers in a major tax relief for big petrol and diesel vehicles. Until now, large cars carried an effective tax burden of almost 50%, combining 28% GST with a hefty compensation cess of up to 22%. The government has now simplified the structure to Read More…
New Delhi: The much-anticipated GST Council meeting kicks off today, raising hopes of relief for the common man as discussions center on a major overhaul of tax slabs. The two-day session, chaired by Finance Minister Nirmala Sitharaman, will review a proposal to merge the existing four slabs of 5%, 12%, 18%, and 28% into just Read More…
The 56th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, has kicked off with sweeping “next-gen” reforms on the agenda. Billed as GST 2.0, the overhaul aims to go far beyond routine rate tweaks, promising structural clarity and easier compliance for businesses. The big-ticket proposal is a simplification of tax slabs: the existing four-tier Read More…
New Delhi: India’s Goods and Services Tax (GST) revenue recorded a 6.5% year-on-year growth in August, rising to ₹1.86 lakh crore, according to official data released on Sunday. The steady increase in GST mop-up comes just two days ahead of the GST Council meeting, where the Centre and states are set to deliberate on key Read More…
India is preparing to unveil its “next-generation GST reforms” by September 22, timed with the Navratri and festive season, according to government sources. The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3–4 to finalise a sweeping overhaul that will replace the current four-tier tax structure with a simplified two-slab system—5% Read More…
New Delhi: The GST Council will convene on September 3 and 4 to deliberate on crucial tax reforms, including the Central Government’s proposal to restructure the GST system into a simplified two-rate framework. The Council is expected to examine the reports of various Groups of Ministers (GoMs), who were tasked with studying major aspects of Read More…