Insurers warn GST exemption without removing inverted duty structure may raise costs
A brewing row between the insurance sector and policymakers over the Goods and Services Tax (GST) shows growing tension.
Tag: GST 2.0
States Demand Compensation For 5 Years Over Likely Loss of Rs 2 Lakh crore a Year
With the Centre’s proposed two-slab indirect tax structure in the next-gen GST reforms, Opposition-ruled states on Friday demanded that all states need to be compensated for 5 years for the likely Rs 2 lakh crore a year revenue loss due to the government’s move.
India’s GST cuts at risk of delay as states wrangle over future revenues
Prime Minister Narendra Modi’s plans for sweeping tax cuts are at risk of facing a delay as states governed by key opposition parties have sought compensation for any revenue loss from the planned changes.
GST Council likely to continue Nil GST on handloom products, raw silk; recommends status quo
The Group of Ministers (GoM) on GST rate rationalisation has recommended that the exemption on handloom products and raw silk should continue, providing relief to artisans and small weavers across the country.
Butter, condensed milk, dates, nuts, jams, mushrooms, namkeens to now get cheaper under GST 2.0
Consumers may soon feel relief in their household expenses as the GST Council considers lowering the tax on several popular food items.
GST Council meet likely to discuss ending compensation cess by October 31
The Goods and Services Tax Council, which meets September 3–4, is likely to deliberate ending the compensation cess by October 31, ahead of the deadline, as loans raised during the pandemic years approach full repayment, government sources said.
Demand boost to more than make up for GST 2.0 revenue loss, says PM-EAC chairman
The proposed restructuring of goods and services tax (GST) rates may lead to an initial dip in states’ revenues but the resulting boost to demand and consumption is expected to offset the loss, Economic Advisory Council to the Prime Minister (EAC-PM) chairman S Mahendra Dev has said.
New GST slabs likely by September end
The Goods and Services Tax (GST) Council, is expected to introduce revised GST rate slabs around 22nd September 2025.
Drug, medtech companies fear GST changes may squeeze funds
The pharmaceutical and medtech industries are worried about the impending Goods and Services Tax (GST) reforms as they expect the step to impact operating costs and working capital, straining their financial health.
Multiplexes want tickets up to Rs 300 in 5% tax bracket
The Multiplex Association of India (MAI) has urged the government to move cinema tickets priced up to ₹300 into the 5% GST slab