"On certain fronts, there are some rightful comparisons between 2013 and 2022. One thing that stands different is that among all the major economies, India's retail inflation was worst-hit. Today, we have an import of inflation. This happens because, we all know, the US Federal Reserve did not manage the situation well....An American problem was brought into India, and inflation has risen as we see. This is still within manageable range," Rajat Sethi, political analyst and economist, said.
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The high-powered GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3-4 to discuss moving to a two-slab taxation.
The Centre's proposed reduction in GST is also expected to lead to a drop in costs for car buyers, reducing on-road prices as well as EMIs.
Proposed GST cuts on petrol and diesel vehicles could reduce EVs price advantage, slowing adoption while causing major revenue losses for the government - HSBC.
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.
Over 50 million Micro, Small and Medium Enterprises in India, who have GST and Business PAN (B-PAN), can have digital procurement access through Amazon Business ahead of the upcoming festive season, the global e-commerce giant said on Thursday
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