‘No Need To Panic, Negotiations Underway’: Piyush Goyal On Trump’s 50% Tariffs
Union Commerce and Industry Minister Piyush Goyal has sought to reassure businesses that India is engaged in active negotiations with the United States following President Donald Trump’s decision to impose a steep 50% tariff on Indian exports. Goyal emphasised that while the new duties are significant, there is “no need to panic” and expressed confidence […]
GST Reforms: What Gets Cheaper, What Stays Costly
The Goods and Services Tax (GST) Council has taken a big step in simplifying India’s indirect tax system. After a marathon 56th meeting in New Delhi, Finance Minister Nirmala Sitharaman announced that the four-slab system will now be reduced to just two rates — 5% and 18%, effective from September 22. “We’ve reduced the slabs. […]
GST Council Approves New Two-Tier Tax Structure, Effective September 22
In a landmark decision aimed at boosting domestic demand amid global trade headwinds, the GST Council on Wednesday approved a new two-tier tax structure of 5% and 18%, with an additional 40% levy for demerit goods to be finalised later. The changes will come into effect from September 22. The decision was taken at the […]