The Goods and Services Tax (GST) Council, headed by Finance Minister Nirmala Sitharaman, is meeting today amid high expectations from traders and businesses. The 56th meeting of the Council is likely to discuss a shift to a simplified two-slab system and rate cuts that could make several goods and services cheaper ahead of the festive season.
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The task of winding up multiple myriad taxes that used to operate before 2014 and shifting to a cleaner, more efficient system was such that testing out the new system was not possible, PM Modi's economic advisor said today.
P Chidambaram -- Congress's former Union Minister who handled the finance portfolio -- said today that while the rationalisation of the Goods and Services Tax law is welcome, it is eight years too late.
From September 22, 2025, all individual life and health insurance premiums will attract 0% GST, down from 18%. Announced after the 56th GST Council meeting, this move cuts upfront costs, may widen coverage, and nudges households to buy adequate prote
The Union Minister announced the new GST structure for the country, bringing the GST rate on smaller cars down to 18 per cent.
The rationalisation of Goods and Services Tax is the "biggest reform since Independence," Prime Minister Narendra Modi said today
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