In charts, the GST’s five-year report card
2 years, 6 months ago

In charts, the GST’s five-year report card

Live Mint  

Five years ago, the goods and services tax was launched as one of India’s biggest reforms in recent years, with the purpose of making indirect taxes “good and simple". View Full Image Chart-1 The GST regime has completed five years and the guaranteed compensation for loss in revenue to states ceases to exist. View Full Image Chart-2A View Full Image Chart-2B GST Council meetings are usually under scrutiny for their decisions on tax rates. View Full Image Chart-3A View Full Image Chart-3B The demand to bring fuel under GST refuses to die down. View Full Image Chart-5 View Full Image Chart-6 View Full Image Chart-7 Despite the confusion over the tax structure, the GST regime has had a positive impact on business even as several issues are yet to be resolved.

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History of this topic

BJP counters Congress’s charges on GST
1 day, 19 hours ago

BJP counters Congress’s charges on GST

The Hindu  

The Bharatiya Janata Party on Thursday accused the Congress of misleading people on the issue of Goods and Services Tax. BJP national spokesperson and former Rajya Sabha MP, Syed Zafar Islam, in a press statement, said the Congress was “rattled by the implementation and success of GST because it no longer has any loopholes, depriving Congress of opportunities for corruption”. …

Kharge demands end to ‘tax terrorism’ in the Budget, calls GST ‘Give Sitharaman Tax’
1 day, 20 hours ago

Kharge demands end to ‘tax terrorism’ in the Budget, calls GST ‘Give Sitharaman Tax’

The Hindu  

Ahead of the Union Budget, the Congress on Thursday alleged that the goods and services tax had become a means to “loot” people and demanded that the Centre puts an end to “tax terrorism”. In a post on X, Congress president Mallikarjun Kharge said that the GST could stand for the “Gabbar Singh Tax” or “Grahasthi Satyanash Tax ” or …

GST collection 2024: Congress alleges slowdown in GST collections; asks government to focus on complexities of economy
1 week, 1 day ago

GST collection 2024: Congress alleges slowdown in GST collections; asks government to focus on complexities of economy

The Hindu  

The Congress on Friday claimed that the last quarter of the current fiscal year witnessed the “second-slowest pace” of collection of Goods and Services Tax in the past three years and urged the government to focus on the complexities of the economy instead of imposing tax on popcorn. Net GST growth slumps to 3.3% in December, as revenues slow and …

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%
1 week, 2 days ago

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%

The Hindu  

India’s gross Goods and Services Tax receipts increased at the second-slowest pace in 43 months in December, while growth in net GST collections, after adjusting for refunds, slumped to 3.3%, the weakest in financial year 2024-25. Editorial: ​Selective indecision | on the GST Council’s 55th meeting, decisions December’s gross GST inflows, for transactions undertaken in November, were a tad under …

GST collections rise 7.3 pc to Rs 1.77 lakh cr in December
Top News
1 week, 2 days ago

GST collections rise 7.3 pc to Rs 1.77 lakh cr in December

Deccan Chronicle  

New Delhi: Goods and Services Tax collections rose by 7.3% to ₹1.77 lakh crore in December, maintaining figures above the ₹1.7 lakh crore mark for the tenth consecutive month. While higher than the ₹1.65 lakh crore collected in December 2023, it fell short of the record ₹2.1 lakh crore achieved in April 2024, according to government data released on Wednesday. …

How much GST did Indians pay in December 2024? Govt data says...
1 week, 3 days ago

How much GST did Indians pay in December 2024? Govt data says...

Firstpost  

The Central GST collection accounted for Rs 32,836 crore, State GST for Rs 40,499 crore, Integrated GST for Rs 47,783 crore, and Cess for Rs 11,471 crore. The year-to-date GST collections now stand at Rs 16,33,569 crore India’s gross Goods and Services Tax revenue climbed 7.3 per cent year-on-year to Rs 1.77 lakh crore in December, according to government data …

Centre, states collect gross GST revenue of ₹1.76 trillion in December
Trending News
1 week, 3 days ago

Centre, states collect gross GST revenue of ₹1.76 trillion in December

Live Mint  

The Union and state governments collected gross Goods and Services Tax revenue of ₹1.76 trillion in December, the lowest in in three months, but showing an improvement of 7.3% from a year ago, official data showed. After adjusting for tax refunds, GST revenue collection stood at ₹1.54 trillion, showing annual growth of 3.3%. After refunds, GST revenue receipts in the …

GST on exam forms: Turned dreams of people into source of income, Priyanka GANDHI slams govt
2 weeks, 5 days ago

GST on exam forms: Turned dreams of people into source of income, Priyanka GANDHI slams govt

The Hindu  

Congress MP Priyanka Gandhi Vadra on Monday attacked the BJP over levying GST on examination forms, saying the government had turned the dreams of parents who saved every penny to prepare their children for exams into a source of income. The Congress General Secretary shared an examination form of the Kalyan Singh Super Speciality Cancer Institute, Sultanpur, that showed 18% …

Towards a simple and rational GST
2 weeks, 5 days ago

Towards a simple and rational GST

Hindustan Times  

Social media went pop over popcorn on Saturday, sharing details on the differential Goods and Services Tax rates on variants. But, two larger issues with India’s indirect tax regime need to be promptly addressed. The window for the rationalisation of the tax slabs has been extended, and it isn’t clear whether this will even happen The first has to do …

GST Council's key decisions: What's cheaper, what's costlier, and all other details
2 weeks, 6 days ago

GST Council's key decisions: What's cheaper, what's costlier, and all other details

India Today  

The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman on Saturday, introduced significant changes to the Goods and Services Tax framework. Several items and services will see a reduction in GST rates, offering financial relief: Fortified Rice Kernels : The GST rate on FRK has been reduced to 5% when supplied through the Public Distribution System. On …

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing
2 weeks, 6 days ago

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing

The Hindu  

A much-anticipated review of the Goods and Services Tax levies on life and health insurance policies was put off by the apex body in charge of the indirect tax regime, the GST Council at its 55th meeting on Saturday, as some members sought more discussions on the matter before taking a final call. Moreover, rate rationalisation suggestions pertaining to about …

GST Council postpones decision to cut tax on life and health insurance
3 weeks ago

GST Council postpones decision to cut tax on life and health insurance

Hindustan Times  

The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said. Revenue Secretary Sanjay Malhotra attends a GST Council meeting with Union Finance Minister Nirmala Sitharaman at Vigyan Bhawan, in New Delhi. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided …

GST Council meets to decide on lower taxes on insurance policies, ATF inclusion
Trending News
3 weeks ago

GST Council meets to decide on lower taxes on insurance policies, ATF inclusion

Deccan Chronicle  

Jaisalmer: The 55th GST Council meeting which is expected to decide on reducing the tax rate on health and life insurance, besides considering rate rejigs on 148 items began here on Saturday. However, 18 per cent GST will continue on premiums paid for policies with health insurance cover of over Rs 5 lakh. The four-tier tax slab of 5, 12, …

Insurance, plane fuel might get cheaper as GST Council mulls lowering taxes
3 weeks ago

Insurance, plane fuel might get cheaper as GST Council mulls lowering taxes

Hindustan Times  

The 55th GST Council meeting which is expected to decide on reducing tax rate on health and life insurance, besides considering rate rejigs on 148 items began here on Saturday. However, 18 per cent GST will continue on premiums paid for policies with health insurance cover of over ₹5 lakh. The four-tier tax slab of 5, 12, 18 and 28 …

GST Council postpones decision to cut tax on insurance, rate panel defers report submission
Top News
3 weeks ago

GST Council postpones decision to cut tax on insurance, rate panel defers report submission

The Hindu  

A GST Council meeting on Saturday postponed a decision on reducing taxes on health and life insurance, while the much talked-about GoM recommendation of rate rejig in 148 items was not tabled before the Council. “We will submit the GoM report on rate rationalisation in next meeting of Council,” said Mr. Chaudhary who is the convenor of the panel. The …

GST Council 55th Meeting in Jaisalmer: FM Nirmala Sitharaman to discuss potential revisions in insurance, aviation taxes
3 weeks ago

GST Council 55th Meeting in Jaisalmer: FM Nirmala Sitharaman to discuss potential revisions in insurance, aviation taxes

Live Mint  

The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and including state finance ministers, will convene today, December 21, in Jaisalmer, Rajasthan. This pivotal gathering of the apex body for indirect taxes is expected to focus on significant rate changes for life and health insurance, luxury items, and the possible inclusion of aviation turbine fuel under the …

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products
3 weeks ago

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products

New Indian Express  

The 55th Goods and Services Tax Council meeting, held in Jaisalmer, Rajasthan, under Finance Minister Nirmala Sitharaman on Saturday, deferred discussions on the much-anticipated proposal to restructure GST on insurance premiums. The GST Council also postponed discussions on the widely discussed rate rationalisation for various consumer items, including so-called ‘sin’ products. Under the current GST framework, e-commerce platforms face specific …

Council may increase GST rate on all kinds of used cars to 18 per cent
3 weeks ago

Council may increase GST rate on all kinds of used cars to 18 per cent

New Indian Express  

JAISALMER: The GST Council in its 55th meeting on Saturday is likely to announce changes in tax rates on several goods and services. As per sources, the fitment panel of the Council has decided to levy 18% GST on all kinds of used cars. The Council is likely to agree with the fitment panel’s recommendation and raise GST rate to …

GST Council postpones decision on reducing tax for life, health insurance premiums
3 weeks ago

GST Council postpones decision on reducing tax for life, health insurance premiums

India TV News  

On Sunday, the GST Council, in its 55th meeting chaired by Union Finance Minister Nirmala Sitharaman, deferred the decision to cut taxes on life and health insurance premiums. Group of ministers to meet again for further discussions Bihar Deputy Chief Minister Samrat Chaudhary, who headed the Group of Ministers tasked with considering the issue, said a fresh meeting was needed …

55th GST Council Meeting begins: What could become costlier or cheaper today
3 weeks ago

55th GST Council Meeting begins: What could become costlier or cheaper today

India Today  

The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, has brought together ministers from 28 states, two Union Territories, and key stakeholders to deliberate on sweeping tax reforms. FOOD DELIVERY PLATFORMS In a move to ease costs for food delivery services like Swiggy and Zomato, the GST rate may be reduced from 18% with input tax credit to …

GST council approves key reforms, defers decision on insurance premium tax cuts
3 weeks ago

GST council approves key reforms, defers decision on insurance premium tax cuts

India TV News  

The Goods and Services Tax Council, chaired by Finance Minister Nirmala Sitharaman, made significant decisions in its 55th meeting, aimed at streamlining the taxation system and curbing tax evasion. Other exemptions and clarifications Third-Party Motor Vehicle Premiums: Contributions made by general insurance companies to the Motor Vehicle Accident Fund, established under the Motor Vehicles Act, 1988, have been exempted from …

GST Council to decide on cutting taxes on insurance premium, rate rejig on host of items
3 weeks, 1 day ago

GST Council to decide on cutting taxes on insurance premium, rate rejig on host of items

The Hindu  

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35% tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising State counterparts, …

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December
3 weeks, 3 days ago

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December

Live Mint  

The Centre’s direct tax collection from corporations and individuals after adjusting for tax refunds has reached ₹15.8 trillion so far this year, jumping 16.45% over the previous year and outpacing the budget estimate. While non-corporate tax collection from individuals and other entities like partnerships and local authorities, after adjusting for refunds, recorded a 22% jump so far this year to …

Proposed GST slab of 35 percent is a deterrent for growth
3 weeks, 3 days ago

Proposed GST slab of 35 percent is a deterrent for growth

Deccan Chronicle  

The Government brought in historic tax reforms with the introduction of the Goods and Services tax in 2017, promoting simplicity, while reducing the tax burden. As per media reports, the Group of Ministers on GST Rates Rationalisation has recently proposed a new slab of GST at 35% over and above the existing 4 slabs to products such as aerated drinks …

Levy a higher GST rate on tobacco, sugared beverages
3 weeks, 4 days ago

Levy a higher GST rate on tobacco, sugared beverages

The Hindu  

Over the past seven years, since the introduction of the Goods and Services Tax, there have been no significant increases in GST rates on harmful products such as tobacco and sugar-sweetened beverages, except for two minor hikes in National Calamity Contingent Duties on tobacco. Balancing GST and excise taxes Another key issue is the reliance on GST, a purely ad …

U.P.’s GST revenue grows 15%, surpassing national average
3 weeks, 4 days ago

U.P.’s GST revenue grows 15%, surpassing national average

Hindustan Times  

Uttar Pradesh has recorded impressive consumer spending trends, with a 15% growth in Goods and Services Tax revenue until November, surpassing the national average of 13%. U.P.’s GST revenue for the period reached ₹56,687 crore, up from ₹49,282 crore during the same period last year. are spending at levels comparable to, or in some cases higher than, residents of more …

GST rate changes: Consult the public
1 month ago

GST rate changes: Consult the public

New Indian Express  

The “recommendations” symbolise a misalignment, the fault lines in the understanding of the state of the economy. While the GST Council has ceased publishing data on collections, news reports show that November saw gross GST collections, at Rs 1.82 lakh crore, growing at 8.5 percent. It is a moot point if the process of GST Council GoMs allows for representations, …

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials
1 month ago

Mind economy's interest before Revenue's: Sanjay Malhotra to tax officials

Live Mint  

New Delhi: Cautioning tax officials to not kill the goose that lays the golden egg in the process of tax collection, revenue secretary Sanjay Malhotra told a gathering of officials that they need to be careful not to hurt the economy’s interests in the hunt for revenue. “This is a very positive development for the industry—it signals the government's intention …

GST rate hike claims are ‘premature, speculative’
1 month, 1 week ago

GST rate hike claims are ‘premature, speculative’

The Hindu  

The Central Board of Indirect Taxes and Customs on Tuesday dismissed reports indicating significant indirect tax rate changes and hikes on the Goods and Services Tax rates of various goods and services, as “premature and speculative”, and stressed that a ministerial group tasked with rationalising the multiple GST rates is yet to finalise its recommendations. While the GST Council, which …

GoM proposes GST hike: Cigarettes, tobacco, aerated beverages may be hiked to 35%; GST Council decision on Dec 21
1 month, 1 week ago

GoM proposes GST hike: Cigarettes, tobacco, aerated beverages may be hiked to 35%; GST Council decision on Dec 21

The Hindu  

The GoM on GST rate rationalisation on Monday decided to hike tax on sin goods like aerated beverages, cigarettes, tobacco and related products to 35% from the present 28%, an official said. In total, the GoM on rate rationalisation will propose tax rate tweaks on 148 items to the GST Council. The four-tier tax slab of 5, 12, 18, and …

GST Council Considers Steep 35% Hike On Cigarettes, Tobacco Products
Trending News
1 month, 1 week ago

GST Council Considers Steep 35% Hike On Cigarettes, Tobacco Products

ABP News  

The Group of Ministers on Goods and Services Tax rate rationalisation has proposed significant changes to tax rates, including a hike on sin goods like aerated beverages, cigarettes, and tobacco products, increasing the tax to 35 per cent from the current 28 per cent. Under the proposed structure: Readymade garments costing up to Rs 1,500 will attract 5 per cent …

GST on cigarettes, tobacco, aerated beverages likely to be hiked: Here’s what we know
Trending News
1 month, 1 week ago

GST on cigarettes, tobacco, aerated beverages likely to be hiked: Here’s what we know

Live Mint  

The Group of Ministers on Monday, December 2 decided to hike the rate of goods and service tax charged on goods like aerated beverages, cigarettes, tobacco and related products to 35 per cent, from its current level of 28 per cent, reported the news agency PTI citing an official aware of the development. The four-tier tax slab of 5, 12, …

Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance
1 month, 1 week ago

Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance

Deccan Chronicle  

New Delhi: About 70-75 per cent of GST revenues collected in 2023-24 fiscal year came from the 18 per cent slab, while just 5-6 per cent came from the 12 per cent bracket, Parliament was informed on Monday. The average GST rate has fallen below the revenue neutral rate of 15.3 per cent, prompting the need to start discussions on …

Punjab registers 63% jump in net GST collection: Harpal Singh Cheema
Trending News
1 month, 1 week ago

Punjab registers 63% jump in net GST collection: Harpal Singh Cheema

Hindustan Times  

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said on Sunday that the state witnessed 62.93% growth in net GST collection during November 2024 compared to the corresponding period last year. Punjab finance, planning, excise and taxation minister Harpal Singh Cheema said the total net collection from VAT, CST, GST, PSDT, and excise in November this year is …

GST mop-up fourth highest ever but red flags in laggard states
1 month, 1 week ago

GST mop-up fourth highest ever but red flags in laggard states

Hindustan Times  

The Goods and Services Tax revenue in November grossed over ₹1.82 lakh crore, the fourth highest monthly collection ever that also crossed the ₹1.80 lakh crore mark for the fifth time in 88 months since July 2017, despite major states such as Andhra Pradesh, Rajasthan and Chhattisgarh showing a dip in growth. The goods and services tax revenue in November …

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more
1 month, 1 week ago

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more

Live Mint  

From increase in GST collection to Andhra govt dissolving Waqf board to killing of 7 Maoists to Donald Trump picking loyalist Kash Patel as his new FBI director, here are today's top stories. GST collection for November rises by 8.5% to ₹ 1.82 lakh crore The goods and service tax collection for the month of November rose 8.5 per cent …

GST mopup surges 8.5 per cent to 1.82 lakh crore in November
1 month, 1 week ago

GST mopup surges 8.5 per cent to 1.82 lakh crore in November

Deccan Chronicle  

New Delhi: India's gross goods and service tax or GST mopup surged by 8.5 per cent to over Rs 1.82 lakh crore in November on year-on-year basis as compared to Rs 1.68 lakh crore in the same month last year. As per the data released by the finance ministry, the total gross GST revenue grew 8.5 per cent to over …

GST collection reports 8.5 per cent growth to Rs 1.82 lakh cr in November
Trending News
1 month, 1 week ago

GST collection reports 8.5 per cent growth to Rs 1.82 lakh cr in November

India TV News  

The gross Goods and Services Tax collections rose 8.5 per cent to over Rs 1.82 lakh crore in November on higher revenues from domestic transactions. The statement released by the government said the total gross Goods and Services Tax revenue grew 8.5 per cent to over Rs 1.82 lakh crore in November as compared to Rs 1.68 lakh crore in …

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat
1 month, 2 weeks ago

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Live Mint  

Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Particularly praiseworthy is the government’s proposal to undertake a comprehensive review of the Income Tax Act of 1961 within the context of reviewing the entire direct and indirect taxation regime. On the indirect taxation side, the 2024-25 budget …

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely
1 month, 3 weeks ago

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely

ABP News  

The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, is scheduled for December 21 in Jaisalmer, Rajasthan. The council, comprising state finance ministers, is expected to deliberate on major tax policy changes, including a decision on exempting or reducing GST rates on health and life insurance policies. Following discussions last month, the GoM has proposed …

GST Council to meet in Jaisalmer on Dec 21; may decide on insurance levy, rate rationalisation
1 month, 3 weeks ago

GST Council to meet in Jaisalmer on Dec 21; may decide on insurance levy, rate rationalisation

Deccan Chronicle  

New Delhi: The GST Council will meet on December 21 in Jaisalmer, in which the much-awaited decision on exemption or lower GST rate on health and life insurance is likely to be taken. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, may also take up some rate rationalisation exercise and reduce tax rates on …

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov
1 month, 4 weeks ago

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov

Live Mint  

New Delhi: The union government’s direct-tax collection has grown by 15.41%, after tax refunds, to ₹12.1 trillion so far this financial year, the Central Board of Direct Taxes said on Monday. Securities transaction tax contributed ₹35,923 crore so far this financial year, 90% more than the ₹18,909 crore collected in the same period a year ago, CBDT data showed. So …

It is time India started indexing tax slabs and exemptions with inflation
Trending News
2 months ago

It is time India started indexing tax slabs and exemptions with inflation

Live Mint  

NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. As the government’s revenue from personal income tax rises, it will likely face greater scrutiny and higher taxpayer expectations regarding the tax system's efficiency, transparency, stability, and fairness. The old tax regime evolved over several decades, allowing individuals …

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs
2 months, 1 week ago

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs

The Hindu  

GST revenue trends have been volatile this year, with growth in gross and net receipts exceeding that of the previous year's highest points, but falling short of the previous year's overall growth. While the year started with a strong surge in April, subsequent months have shown a decline in growth. The latest GST receipts indicate a positive trend, but it …

GST collections hit a 40-month low in September 2024
3 months, 1 week ago

GST collections hit a 40-month low in September 2024

The Hindu  

Growth in India’s Gross Goods and Services Tax collections slumped to a 40-month low of 6.5% in September, with revenues at ₹1,73,240 crore, about 1% lower than the tally in August. Gross domestic revenues were up 5.9% in September, with the uptick moderating 4.5% higher after adjusting for refunds, provisional numbers from the Central Board of Indirect Taxes and Customs …

GST rate rationalisation: GoM discusses pruning 12% slab, next meeting on October 20
3 months, 2 weeks ago

GST rate rationalisation: GoM discusses pruning 12% slab, next meeting on October 20

The Hindu  

The Group of Ministers on GST rate rationalisation has discussed tax rate tweaks on over 100 items, including lowering taxes on certain goods from 12% to 5%, to give relief to the common man, West Bengal Finance Minister Chandrima Bhattacharya said on Thursday, September 26, 2024. She said items used by the common man should attract lower tax rates and …

Group of Ministers to review tax rates on health, life insurance
3 months, 3 weeks ago

Group of Ministers to review tax rates on health, life insurance

The Hindu  

The GST Council constituted a 13-member Group of Ministers on Sunday to suggest GST rates on premiums of various health and life insurance products. It will also suggest tax rates on life insurance, including term insurance, and life insurance with investment plans, whether individual or group, and re-insurance. Some opposition-ruled states, including West Bengal, had demanded complete exemption for health …

GST Council Meeting: what is cheaper and costlier
4 months ago

GST Council Meeting: what is cheaper and costlier

The Hindu  

The 54th GST Council meeting, held in New Delhi on Monday announced several changes to the existing Goods and Services Tax slabs. The Council decided to reduce the GST rate on cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 12% to 5%. Namkeens, or savoury snacks, will also become cheaper after the GST on extruded/expanded savoury food products is reduced …

​Soothing salvo: On new Group of Ministers and tax changes for insurance policies
4 months ago

​Soothing salvo: On new Group of Ministers and tax changes for insurance policies

The Hindu  

Meeting for the second time after the 2024 general election results, the Goods and Services Tax Council on Monday sought to calm some of the rising clamour against the 18% indirect tax levy on insurance premium payments. A new Group of Ministers is being formed to urgently recommend tax changes for life and health insurance policies, with an assurance the …

Priorities askew with high insurance tax, cheaper fried snacks
4 months ago

Priorities askew with high insurance tax, cheaper fried snacks

New Indian Express  

The GST Council, which reviews the goods and services tax levied on specific items and categories, has thoughtfully reduced the tax on a few cancer drugs and on educational institutions’ R&D services. But for reasons that are still cloudy, the council has also given cholesterol a boost by reducing the rate on fried snacks to 12 percent and rewarded high-fliers …

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