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File picture of U.S. President Donald Trump. | Photo Credit: Reuters The Trump administration has told the U.S. Supreme Court that it imposed tariffs against India for purchasing Russian energy products “to deal with a preexisting national emergency regarding Russia’s war in Ukraine” and as a “crucial aspect” of the President’s push for peace in…
The Central Government’s overhaul of the Goods and Services Tax (GST) system has been met with optimism in Hyderabad, where residents and traders say the changes will ease household budgets and simplify business compliance. The reforms have slashed taxes on hundreds of consumer goods from soaps to small cars and streamlined the GST structure into…
Read More “People hail GST relief on essentials, traders warn of implementation issues” »
Representative image | Photo Credit: Reuters The GST rate for labour charges (job work) has been increased from 12% to 18% and it is expected to hit hard the Micro, Small, and Medium-scale Enterprises (MSMEs). C. Sivakumar, president of the Coimbatore Tiruppur district Micro and Cottage Entrepreneurs Association, said one of the long-pending demands of…
The GST Council’s decision to bring down the GST on individual life and health insurance policies from 18% to zero will make more families opt for medical cover, said analysts and industry executives. Insurance cover will ease burden on families when medical inflation is rising sharply and is unchecked, they said. However, they pointed out that…
Read More “Zero GST on insurance will increase coverage, says industry” »
While the goods and services tax (GST) rate cuts authorised by the GST Council on Wednesday (September 3, 2025) night brought cheer to the auto, insurance, consumer appliances, pharmaceuticals, and renewable energy sectors, among others, some of that was tinged with reproach. Some other industries are outright upset with the tax changes. GST Council meeting…
Representative image | Photo Credit: Getty images/iStockphoto The healthcare industry has welcomed the government’s move to reduce GST on medicines and medical devices, calling it a progressive reform that will directly benefit patients by lowering treatment costs, improving affordability, and expanding access to essential medical technologies. While healthcare services provided by doctors, hospitals, and diagnostic…
The increase of the 5% limit for garments from ₹1,000 each to ₹2,500 is a positive move, said the Cloth Manufacturers Association of India (CMAI). File | Photo Credit: The Hindu The textile industry, which welcomed the revision of GST rates for the textile value chain in both manmade fibre and cotton sectors, expressed disappointment…
Prime Minister Narendra Modi addresses the gathering during a meeting with National Awardee Teachers at his official residence in New Delhi. | Photo Credit: X/@NarendraModi via PTI GST 2.0 is a double dose of support and growth for the nation and the next-generation reforms have been done to support India’s progress in the 21st century,…
Read More “GST has become simpler; new rates to be effective from first day of Navratri: PM Modi” »
The council slashed GST rates on air-conditioners and dishwashers from 28% to 18%, whilst it standardised the rate on all types of televisions to a lower 18%. Representational file image. | Photo Credit: The Hindu The reduction of GST rates on air-conditioners and dishwashers and the standardisation of rates for all television variants at the 56th…
The goods and services tax overhaul is set to deliver major price cuts for car buyers this festive season across segments as the entry-level and mid-segment cars priced up to ₹14 lakh see upto 13% reduction in GST and cess making them more attractive to a price sensitive segment, and high-end cars with engines above 1200…
Read More “Diwali cheer for car buyers after GST cut across segments” »