 "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 ...
 "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 weighs options to reduce health insurance taxes, potentially aiding affordability while impacting government revenue significantly.")
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% ...
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Cryptocurrency taxes can be a real headache for many individuals. Reporting your crypto transactions to the IRS is required by law, but the process can be confusing and time-consuming. Whether you’re trading, mining, or simply holding onto digital assets, it’s important to understand your tax obligations. Stay informed and don’t let crypto taxes catch you ...
Roger Ver, commonly known as ‘Bitcoin Jesus’ for his early and enthusiastic support of Bitcoin, faces serious allegations as he has been indicted for tax fraud. This development adds a new chapter to the cryptocurrency saga, highlighting the growing scrutiny around digital currency and its prominent figures. Ver, who once renounced his U.S. citizenship, is ...
