The Finance Ministry has proposed a simplified two-tier GST system with standard and merit slabs, along with special rates for select goods...

GST will not be charged on penal charges levied by banks and NBFCs, as clarified by the CBIC. This exemption is due to such charges being d...

Arvind Kejriwal has urged Prime Minister Modi to introduce a law prohibiting the waiver of loans given to billionaires, criticizing the cen...

The GST Council is likely to consider lowering the tax rate on certain insurance plans, including potentially eliminating the 18% tax on te...

The Group of Ministers will, however, present a status report to the GST Council on the consensus which was arrived at the previous meeting...

GST Council is likely to meet by the end of this month and will discuss, among other things, the GoM interim report on rate rationalisation...

Sources said the Fitment committee, comprising tax officers from states and the centre, has made many "sweeping" recommendations regarding ...

The 7-member panel, which would submit a report in two months, would be headed by Karnataka Chief Minister Basavaraj Bommai and include Wes...

A proposal to do away with customs duty and IGST on around 15 product categories is being considered by the revenue department, officials t...

Modi said the Goods and Services Tax (GST) has within one year of its launch led to over 70 per cent jump in indirect taxpayer base, demoli...

Majority of construction contracts fall under the nature of work contracts, which is overlapping between supply of services and supply of g...

The goods and services tax (GST) is expected to reduce b prices by eliminating multil ple levies, but could some goods become costlier?

The manufacturer receives the raw material, aluminium alloy in this case, constructs the chassis and sends it back to the car company. This...

Removal of tax barriers with seamless credit will make India a common market leading to economies of scale in production and efficiency in ...

Arvind Subramanian, who for the finance ministry had authored a report on possible tax rates under the Goods and Services Tax (GST), sugges...

Worried about a steep rise in service tax when the goods and services tax is rolled out, the government is considering a two-rate structure.

GST would be single biggest measure after elimination of licensing in 1991 and could provide requisite stimulus to the economy during econo...