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Searched Tag: gst council meeting

A file photo of Union Finance Minister Nirmala Sitharaman.

GST Council meets to discuss rate cuts, rationalisation measures

September 3, 2025, 10:15 AM - 4 min read

The anticipated rise in consumption from this rationalisation, once confirmed by the GST Council, is likely to balance out nearly Rs 50,000 crore in revenue loss.

The GST Council, which is headed by Sitharaman, is due to meet on September 3 and 4 to discuss the new reforms, the announcement of which is being eagerly awaited

FM says GST 2.0 will bring economic transparency

September 2, 2025, 04:13 PM - 4 min read

The upcoming reforms in the country’s Goods and Services Tax (GST) structure, touted to be “next-generation”, would further reduce compliance burden on small businesses, said Union Finance Minister, Nirmala Sitharaman, on Tuesday

The Centre has already forwarded its proposal to the Group of Ministers that examine rate rationalisation. It will then place recommendations before the GST Council, which is the apex body on indirect taxation and is headed by Union Finance Minister, Nirmala Sitharaman

Overhaul of the GST regime: What changes can you expect?

August 16, 2025, 02:55 PM - 5 min read

A complete change in the GST regime by Diwali could alter everyday expenditure patterns for the common man. Here’s a look at what may change and how advantageous the indirect tax overhaul can be

During the June quarter of FY26, ₹15,851 crore worth ITC was found to have been fraudulently passed involving 3,558 fake firms

Record high fake ITC claims detected

July 22, 2025, 03:44 PM - 4 min read

While the number of fake input tax credit claims rose as compared to last year, the number of fake firms detected year-on-year was less, GST officials said

GST Council to debate slashing 12 pc tax slab

June 26, 2025, 03:56 PM - 4 min read

The council’s meeting, slated for July, has been delayed for over six months owing to disagreements over location of meeting

GST Council may remove 12 pc tax slab

June 5, 2025, 03:38 PM - 3 min read

The goods and services tax rates may be reduced from four to three, and items falling under the 12 per cent tax slab be shifted to either 5 per cent or 18 per cent slab

GST collections up 16.4% in May ‘25

June 1, 2025, 05:41 PM - 2 min read

The gross Goods and Services Tax (GST) collection rose to ₹201,050 crore as against ₹172,739 crore last May, says official data

GST Exemption for Payment Aggregators on Transactions Below 2000.

Payment aggregators get GST exemption for small transactions

December 23, 2024, 05:07 PM - 3 min read

In a significant move for the financial sector, Finance Minister Nirmala Sitharaman announced an important decision during the 55th GST Council Meeting held in Jaisalmer.

GST Council Approves New System to Track Evasion Prone Goods.

India to roll out Unique ID Marking System for GST evasion

December 23, 2024, 04:22 PM - 4 min read

India is set to introduce a Unique Identification Marking (UIM) system as part of an initiative to curb GST evasion in specific commodities, particularly those prone to tax leakages such as tobacco products.

New GST measures aim to boost transparency in supply chain.

GST Council approves 'Track and Trace Mechanism' for goods

December 22, 2024, 05:37 PM - 4 min read

The 55th GST Council meeting, led by Finance Minister Nirmala Sitharaman, introduced several significant decisions aimed at strengthening the Goods and Services Tax (GST) framework and reducing tax evasion.

Decision on health insurance GST deferred by GST Council.

GST Council meets and announces key decisions

December 22, 2024, 05:32 PM - 5 min read

The 55th Goods and Services Tax (GST) Council meeting, led by Finance Minister Nirmala Sitharaman, unveiled several key decisions aimed at streamlining the tax structure across various sectors.