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.

GST GoM approves Centre’s proposal to replace 4-tier system with 5% and 18% slabs; luxury goods to face 40% tax.

The additional cost from input credit reversal will likely be factored into the pricing of insurance policies, offsetting a large part of the intended relief for customers, they say ...

Led by Bihar Deputy Chief Minister Samrat Choudhary, the six-member GoM agreed to streamline the present four-tier GST system into a simpler two-tier model — 5 per cent for merit goods and services ...

Telangana supports GST rate rationalisation with a compensation mechanism, proposing either continued compensation cess for states or raising GST rates on luxury goods. Ensuring state revenue ...

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Bihar Deputy Chief Minister Samrat Choudhary, who is the convenor of the GoM on rate rationalization, said the GoM has ...

The GoM supports simplifying GST to two main slabs (5% and 18%) with a special 40% rate for demerit goods. Members want to ...

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 ...

GST and TDS on earning snipped 6 percent real money gaming revenues, which total nearly 80 percent of income for the sector ...

The government has proposed a reduction of GST from 28 percent to 18 percent on small cars by Diwali this year. Tap here to read about the potential pros and cons.

Indian government bond yields rose above 6.5% as markets react to potential fiscal implications of the proposed Goods and Services Tax (GST) structure overhaul.