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GST 2.0 Brings Relief to Consumers and Surat’s Textile Industry, but Lehenga Traders Face Challenges
Surat – The central government’s new GST 2.0 regime, effective from September 22, is set to directly benefit lower- and middle-income consumers. With a reduction in tax slabs on most daily-use and household products, prices are expected to fall. Nearly... 
FMCG Companies Announce Price Cuts on Essential Goods after GST Reduction
New Delhi, September 21 – Leading fast-moving consumer goods (FMCG) companies have announced a reduction in prices of several daily-use items following the recent cut in Goods and Services Tax (GST) rates. Starting Monday, essential products such as soaps, detergents,... 
Next-generation GST reforms to make economy more transparent: Finance Minister Nirmala Sitharaman
Chennai, September 2 – Union Finance Minister Nirmala Sitharaman on Tuesday said that the next generation of GST reforms will make India’s economy fully open and transparent, further easing compliance burdens and benefiting small businesses. She was addressing the 120th...
GST Panel Agrees to Streamline Tax Slabs, Accepts Centre's Proposal for Two-Tier Structure
New Delhi, August 21: The Group of Ministers (GoM) on Goods and Services Tax (GST) rationalisation has approved the central government’s proposal to adopt a simplified two-slab structure of 5 percent and 18 percent. The decision was taken during a...
GST 2.0 Reforms May Boost Consumption by Rs 5.5 Lakh Crore, Offset Revenue Loss: SBI Report
New Delhi, August 20: A recent SBI Research report has projected that the proposed GST 2.0 reforms could lead to a substantial increase in consumption expenditure, estimated at Rs 5.5 lakh crore in the financial year 2025–26. This surge in...
Central GST Offices to Remain Open from March 29 to 31
New Delhi, March 28 – The Central Board of Indirect Taxes and Customs (CBIC) has announced that all Central GST (CGST) field offices across the country will remain open from March 29 to 31, 2025, to facilitate the completion of... 
Congress Calls for ‘GST 2.0’ Amid Tax Classification Disputes
New Delhi, March 15 – The Congress party on Saturday criticized the government over the Goods and Services Tax (GST) system, highlighting inconsistencies in tax rates on various products. Referring to a recent controversy involving a well-known donut chain, Congress...
GST Council to Consider Tax Exemption for Term Insurance Premiums in December Meeting
New Delhi, November 15: The upcoming GST Council meeting on December 21 is expected to deliberate on granting tax exemptions for term life insurance premiums. The 55th meeting of the council will be held in Jaisalmer, Rajasthan, and will be... 
Increase in Rent Expected for Shops in Surat’s Textile Markets Due to GST on Rent via Reverse Charge Mechanism
Surat : The recent introduction of Goods and Services Tax (GST) under the Reverse Charge Mechanism (RCM) on rented properties is likely to raise rental prices for shops in Surat's textile markets. As per the new GST provision, tenants of...
Major Decisions Made at 54th GST Council Meeting: A Move Towards Refined Taxation
Finance Minister Nirmala Sitharaman announced significant GST adjustments, focusing on online gaming, real estate, and reduced rates for essential goods during the recent GST Council meeting in New Delhi.
Surat : GST Portal to Introduce Invoice Management System from October 1st
Surat : Starting October 1st, the GST portal will roll out an Invoice Management System (IMS) to address persistent issues faced by traders during GST 3B return filings. The system will allow corrections to invoice entries directly on the portal,... 
Gadkari writes letter to FM requesting to remove GST on life and health insurance
New Delhi, July 31 (HS): Union Minister and senior BJP leader Nitin Gadkari has written a letter to Finance Minister Nirmala Sitharaman requesting her to remove the GST on payment of life and health insurance scheme.Nitin Gadkari has written... 