 "A crucial GoM formed to reshape GST luxury taxes as compensation cess nears its end, sparking intense debate ahead.")
The Goods and Services Tax (GST) Council has established a 10-member Group of Ministers (GoM) to evaluate the taxation of luxury and sin goods, set to conclude once the compensation cess ends in March 2026. Chaired by Minister of State for Finance Pankaj Chaudhary, the GoM will propose whether to maintain the cess or replace ...
 "The shift from VAT to GST ignites fierce debate over inter-state revenue disparities, dramatically reshaping fiscal landscapes across states.")
The shift from value-added tax (VAT) to goods and services tax (GST) has sparked discussions about how different states perform in terms of revenue. Under the previous tax system, states earned revenue from inter-state transactions based on where goods were produced. With GST, however, taxes are collected based on where goods are consumed. This change ...
 "A critical GST panel meets on September 25, facing tension over potential tax slab changes as revenue concerns escalate.")
The ministerial panel reviewing GST rates will convene on September 25 to discuss potential changes to tax slabs. The Group of Ministers (GoM), led by Bihar’s Deputy Chief Minister Samrat Chaudhary, last met in August and submitted a report to the GST Council earlier this month. Currently, India’s GST structure includes four tax slabs: 5%, ...
Tamil Nadu Chief Minister MK Stalin has condemned Union Finance Minister Nirmala Sitharaman for her behavior towards a Coimbatore businessman who raised concerns about the Goods and Services Tax (GST). The businessman, D Srinivasan, owner of Sri Annapoorna restaurant, was seen in a viral video apologizing to Sitharaman after discussing the complexities of GST on ...
 "Union Finance Minister Nirmala Sitharaman announces GST relief for automotive, advertising, data hosting, and exporters, boosting growth and competitiveness.")
The Union Finance Ministry recently provided relief to several industries, including automotive, data hosting services, and advertising agencies that work with foreign clients. One key circular clarified that demo vehicles used by dealers for test drives can still qualify for GST deductions, as they support vehicle sales. Another circular recognized data hosting services provided by ...
 "The GST Council’s dramatic meeting addressed insurance tax reforms, foreign airline relief, and surging revenues from online gaming.")
During the 54th GST Council meeting in New Delhi, Finance Minister Nirmala Sitharaman announced several key decisions. The council is exploring a state panel to review the compensation cess and its future beyond March 2026. Discussions included potential exemptions for life and health insurance premiums from GST, although further deliberation is needed. To support foreign ...
 "Bandhan Bank unveils GST payment service, enhancing access to government services and confirming its role in revenue collection in West Bengal.")
Bandhan Bank has introduced a new service enabling both customers and non-customers to pay Goods and Services Tax (GST) online and offline. This initiative is part of the bank’s commitment to providing easier access to government services, according to Rajinder Babbar, Executive Director and Chief Business Officer. As a Kolkata-based private bank, Bandhan Bank has ...
 "Finance Minister Nirmala Sitharaman announces key GST reforms, including a GoM to reduce insurance taxes and lower rates on cancer drugs.")
During the 54th GST Council meeting, Union Finance Minister Nirmala Sitharaman announced the formation of a Group of Ministers (GoM) to evaluate the GST rates for life and health insurance. This GoM will be led by Bihar Deputy Chief Minister Samrat Choudhary and is expected to submit its report by the end of October 2024. ...
 "The GST Council meeting, chaired by Nirmala Sitharaman, tackles crucial tax issues, including health insurance exemptions and online gaming regulations.")
The GST Council, led by Finance Minister Nirmala Sitharaman, is set to address key issues, including the taxation of insurance premiums and online gaming fees. A major focus will be whether to reduce the current 18 percent GST on health insurance or exempt senior citizens from this tax. The council’s discussions will also cover revenue ...
The GST Council is set to discuss four proposals to alter the tax treatment of health insurance during its upcoming meeting. These options stem from a request to reduce taxes on health insurance products, aiming to make them more affordable. The proposals include fully exempting all health insurance premiums, cutting the GST rate from 18% ...
