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 […]