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The Centre has told insurers to pass on GST exemption benefits on life and health policies to policyholders. The move will lower premiums, boost penetration, and improve affordability, though insurers’ margins may face pressure, according to ICRA.

With reduction in GST on passenger vehicles, effective September 22, automakers slash prices across models to boost festive demand

Starting September 22, GST rates on 400 items will be reduced in a major reform. Finance Minister Nirmala Sitharaman says this will lower household expenses, boost spending, and benefit all families. Insurance premiums will be tax-free, and compliance will be easier

Andhra Pradesh Deputy CM Pawan Kalyan welcomed the GST reforms approved by the Council, calling them a “true Diwali gift” to the nation. Leaders including CM Chandrababu Naidu and Union Ministers Kishan Reddy and Bandi Sanjay also praised the reforms.

If executed well, GST 2.0 could evolve from a foundational reform into a competitive advantage, supporting India’s journey toward becoming a developed nation by 2047

A statutory review committee to assess the law every three years will ensure that the new Act remains relevant

As the bold indirect tax reform completes eight years of implementation, the occasion calls for an honest appraisal and the introduction of further changes

The ‘One Nation, One-Tax’ was launched by Prime Minister Narendra Modi on July 1, 2017

In May, gross revenues from domestic transactions rose 13.7 per cent to about Rs 1.50 lakh crore, while GST revenue from imports grew 25.2 per cent to Rs 51,266 crore

The Finance Ministry will seek inputs and representations from industry leaders on the proposed rate rationalisation, the future of the compensation cess, and broad structural reforms as part of the GST 2.0 reforms

Six-time Grand Slam winner Sania Mirza is among the many celebrities who have endorsed 'Sundays On Cycle', on May 18, commemorating eight years of GST and promoting a healthier, fitter India

Initiating debate on Finance Bill in Lok Sabha, Congress MP Shashi Tharoor alleged that the BJP government’s economic management is facing structural challenges

Around 24 paise will come from borrowings and other liabilities, 9 paise from non-tax revenue like disinvestment, and 1 paise from non-debt capital receipts, the Budget documents said

Central GST collection stands at Rs 32,836 crore, State GST at Rs 40,499 crore, IGST at Rs 47,783 crore and Cess at Rs 11,471 crore

The tax imposes an unfair burden on policyholders and runs contrary to the intent behind incentivising these policies

The order consists of Rs 5.9 crore in GST demand and a penalty of Rs 5.9 crore for July 2017-March 2021 period.

Besides the enhanced rent, it has also been decided to impose a 12 percent Goods and Services Tax.

Records Rs 1.33 lakh crore in first seven months of 2023-24 fiscal, as per CAG

She went on to say that the GST has increased tax buoyancy for both states and the central government.

New Delhi: Gross revenue collection from the Goods and Services Tax (GST) surged to Rs 1.33 lakh crore in February, posting an increase of 18 per cent year-on-year, the government data showed on Tuesday. The gross GST revenue collected in the month of February 2022 is Rs 1,33,026 crore of which CGST is Rs 24,435 […]