"gst-council"

Kerala Finance Minister K N Balagopal warned that the state could lose Rs 8,000–10,000 crore annually due to GST rate rationalisation. He urged the Centre to ensure benefits reach consumers and pressed for compensation to states facing major revenue losses

The Congress on Thursday termed the GST overhaul “GST 1.5” and said the wait for a “true GST 2.0” continues. Party leaders Kharge, Chidambaram, and Ramesh demanded five more years of compensation for States, simplification of compliance, and relief for MSMEs

Public health experts and anti-tobacco activists have criticised the GST Council’s decision to cut GST on bidis from 28% to 18%, even as taxes on cigarettes and cigars were raised to 40%. Experts warn this undermines India’s tobacco control efforts.

Auto stocks surged as the GST Council approved major reforms, cutting rates on small cars, entry-level bikes, and hybrids from 28% to 18%. Mahindra & Mahindra rose nearly 8%, while sector-wide gains lifted the BSE auto index and market sentiment

The GST Council, led by Finance Minister Nirmala Sitharaman, slashed taxes on daily essentials and packaged foods ahead of the festive season. UHT milk, paneer, parathas, biscuits, chocolates, dry fruits, and dairy products now attract lower or nil GST, boosting consumption outlook

Benchmark indices Sensex and Nifty surged sharply after the GST Council approved a major overhaul of the tax regime, lowering rates on daily-use items and insurance. Investors cheered the reform, boosting consumption outlook, though concerns over tariff issues remain

With the implementation of a new indirect tax system (5% and 18% slabs) essential items, from milk and dry fruits to footwear and fertilisers, will become cheaper starting September 22. Meanwhile, sin goods like tobacco and sugary drinks face a steep 40% GST, with stricter valuation norms.

In a sweeping reform, the GST Council has rationalised India's tax structure by reducing four tax slabs to two—retaining only the 5% and 18% rates. While essential items like snacks and personal care products have seen a steep drop in GST, the rates on tobacco and sugary goods have been raised to 40%.

Economists say the 56th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, may result in a significant reform of the GST structure that could simplify the tax regime and lower prices. Experts believe the changes would boost household disposable income, increase demand, and drive consumption-led growth.

The GST Council will review proposals to cut rates on over 150 products, including food, snacks, vehicles, and education supplies. The move aims to ease household spending, expand the zero-GST list, and simplify the current four-rate structure

Eight opposition-ruled States support GST rate slab reduction, consumer benefits, and compensation for revenue losses. Congress stresses the council meeting should advance cooperative federalism and fully transfer levies on sin and luxury goods to State

The Centre plans GST rationalisation by Diwali, lowering tax on passenger vehicles and two-wheelers from the current 28% to 18%, benefiting entry-level models. The proposal, expected in September’s GST Council meet, aims to boost affordability, sales, and economic growth

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

Finance Minister Niramala Sitharaman announced at a press conference that the age of retirement for the president of the appellate tribunal had been raised from 67 years to 70 years while that of the members had been raised from 65 years to 67 years.

States were also required to pass amendments to state GST (SGST) laws. So far, 18 states have passed the amendments either in their assembles or through ordinance.

These food products have to be sold in loose form or non-branded packets.

Millet flour, known for its nutritional value and health benefits, has gained popularity among health-conscious consumers in India

Delhi Finance Minister Atishi criticised the Centre over the imposition of 28 per cent tax on online gaming industry, adding that the Council should consider withdrawing the tax evasion notices

Finance Ministry has notified October 1 as the date for implementation of the amended GST law provisions for taxing e-gaming

The Bengaluru-based startup 'MPL' initially announced its plans to cut jobs to employees last week amid 28% GST regime