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At the 56th meeting of GST Council meeting, the current four-tier structure has been replaced with a two-tier one, with a standard rate of 18% and five per cent, and de-merit rate of 40% on selected few goods and services. | Photo Credit: Getty Images The State Bank of India (SBI) in its latest research…
Read More “GST reforms will cause ₹3,700 crore revenue loss to government: SBI report” »
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…
Representative image | Photo Credit: Getty Images/iStockphoto The airline industry has slammed the decision to raise GST on premium economy and business class air travel, which has been raised from 12% to 18% as “disappointing” “This increase runs counter to the efforts of Indian carriers, which have been investing in their premium products to enhance…
Read More “Increase in GST for premium air travel disappointing: IATA” »
GST reforms to provide relief to families, ease compliance for businesses: India Inc India Inc on Thursday hailed the GST Council’s “forward-looking decisions” — moving to two rates of 5 per cent and 18 per cent from 22 September, simplifying refunds and MSME procedures, and exempting individual life and health insurance from the indirect tax…
Read More “GST Council meeting LIVE: Industry bodies hail two-rate slab and other reforms” »
Union Finance Minister Nirmala Sitharaman. File. | Photo Credit: PTI Union Finance Minister Nirmala Sitharaman on Wednesday (August 20, 2025) addressed the three Groups of Ministers set up by the Goods and Services Tax (GST) Council to emphasise the importance of the Centre’s proposed reforms to the GST system, including the rate rationalisation efforts. The…
Read More “FM Sitharaman addresses GoMs, explains the importance of the Centre’s GST proposals” »
A view of the Bombay Stock Exchange in Mumbai. | Photo Credit: PTI Benchmark indices Sensex and Nifty surged in early trade on Monday (August 18, 2025), buoyed by plans for big bang reforms in the GST regime by Diwali and S&P upgrading India’s sovereign credit rating. Auto, consumer discretionary and consumer durables stocks propelled…
The Centre has proposed to reduce the number of slabs under the Goods and Services Tax system, retaining the 5% and 18% slabs, while introducing a lower concessional rate below 1% and a high “sin rate” of 40% on just five to seven items each, according to official sources. This would entail entirely doing away…
Read More “Major GST shake-up: 12% and 28% slabs to be axed” »