A key meeting of the Group of Ministers (GoM) on GST rate rationalisation on Thursday ended with state finance minister accepting the Centre’s plan to reduce the number of tax slabs.

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India’s GST rates are on a downward path. From 15.3 percent in 2017 to a projected 9.5 percent by FY27, once the ongoing ...

NEW DELHI: India’s federal government has not quantified the loss to the exchequer due to a lowering of the goods and services tax rates but a state ministers’ panel has endorsed the new rate ...

The final decision on these recommendations will be taken by the GST Council in its next meeting scheduled in September.

Andhra Pradesh High Court held that GST is not leviable on ocean freight charges, accordingly, refund of GST paid on ocean ...

A Group of Ministers has backed the Centre’s proposal to scrap the 12% and 28% GST slabs, with Bihar Deputy CM Samrat Choudhary saying the move will now go to the GST Council for a final decision.

The Centre plans to exempt life and health insurance premiums from 18% GST, aiming to boost financial inclusion and healthcare access before Diwali.

The Centre has proposed exempting life and health insurance policies for individuals from the ambit of GST, the head of a panel of minister.

GoM approves streamlining GST rates to a simplified 5% and 18% two-slab structure, eliminating 12% & 28% slabs.

The GST Council is expected to approve the shift in the coming weeks, with a new 40% slab reserved for sin goods such as ...

With GST rate rationalisation, the tax on cars, two-wheelers, three-wheelers, trucks and buses will reduce to 18% from 28%.