The argument propagated has been to boost the consumption and domestic demand by reducing Goods and Services Tax (GST) rates furtherIt is expected to discuss amendments in GST Laws to accommodate creation of Jammu & Kashmir and Ladakh as UTs
2 min read19 Sep 2019Under the GST composition scheme, traders and manufacturers are required to pay only 1% GST on goods which otherwise attract a higher levy of either 5, 12 or 18%
1 min read13 Jan 2019The GST has been a long time in the making in India but now the abiding economic benefits of a self-policing tax should not be allowed to be held hostage by party politics
2 min read26 Dec 2018Sanjeev Sanyal Principal Economic Adviser to the Finance Ministry said the three slabs could be a low of 5%, a central 15% (merging 12% and 18% slabs that exist now) and a top rate of 25%
1 min read4 Aug 2018GST collections realised during July was 96,483 crore and the target is to reach 1 trillion a month, said Sushil Modi
1 min read2 Aug 2018GST is one of the most complex with the second highest tax rate in the world among a sample of 115 countries which have a similar indirect tax system, says the World Bank
2 min read16 Mar 2018But merging of the 12% and 18% GST slabs will have to wait till tax compliance increases, FM Arun Jaitley said at the India-Korea summit
2 min read28 Feb 2018While the question of one GST rate in India does not arise, the process of rationalisation would continue, said FM Arun Jaitley in Rajya Sabha
1 min read2 Jan 2018Niti Aayog vice chairman Rajiv Kumar says tax rates under GST will rationalise into three slabs, from five at present
1 min read22 Dec 2017Over time, The 12% and 18% GST rates can probably be collapsed into one rate, says chief economic adviser Arvind Subramanian
1 min read24 Nov 2017The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared