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Implemented on 1st July 2017, GST i.e. Goods and Service Tax is a multi-stage tax system that aims to comprehensively replace and consolidate all indirect taxation systems in India, like VAT (Value Added Tax) and more. The seeds of its conception were sown in 2000, by Atal Bihari Vajpayee, the then Prime Minister of India. Earlier, there used to be different tax regimes, varying state-wise. Under the current system, there are 4 categories of GST, namely Central GST, which is levied on intra-state supply of products and services, State GST, which is charged on intra-state sale of the same, Integrated GST, which is calculated on inter-state transactions and UTGST, which is levied on supply of goods and services within an UT. Under the GST system, each taxpayer is allocated a 15-digit distinctive code, namely GSTIN, which is provided based on the state you live in and your PAN card number. As per rules, any business with an annual turnover of Rs 20 lakhs or more should be registered under this system. The taxation rates are determined by the GST council in predetermined slabs, namely 5%, 12%, 18%, and 28%. Some products are also exempted from this list. More

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  • GST cuts miss the counter: Why small kirana stores are yet to pass savings

    Many merchants say they prefer a phased approach by starting with staples like flour, pulses, soap and extend cuts to the rest over weeks or months, depending on cash flows and demand

  • Dabur India flags short term sales disruption in second quarter

    Dabur India flags short term sales disruption in second quarter

    The company said in a statement that it expects second quarter revenue to grow in mid-single digits, with operating profit to grow at a similar pace

  • NRB Bearings expects GST reforms to aid demand, fast-tracks capacity expansion

    NRB Bearings expects GST reforms to aid demand, fast-tracks capacity expansion

    The auto component maker expects the 2025 GST overhaul to spur growth in tractors and two-wheelers, which contribute 40% of its revenue.

  • Insurance agents & associations likely to take up GST issue with IRDAI, Finance Ministry

    Insurance agents & associations likely to take up GST issue with IRDAI, Finance Ministry

    While strict cost caps has forced private insurers to pass GST burden to agents, PSUs like LIC, New India Assurance, Oriental and United India have decided to absorb loss

  • GST cuts, discounts boost festive demand as tier 2, 3 shoppers upgrade

    GST cuts, discounts boost festive demand as tier 2, 3 shoppers upgrade

    Large-screen television sets, water purifiers, dishwashers, washing machines and fashion wear — tier 2 and 3 towns are loading their shopping carts like never before

  • GST cuts and your pocket: Do they truly mean real savings?

    GST cuts and your pocket: Do they truly mean real savings?

    Understanding how GST rate reductions impact prices can help buyers make smarter spending decisions.

  • V-Mart to expand Rs 1,000 apparel range as GST cut spurs demand

    V-Mart to expand Rs 1,000 apparel range as GST cut spurs demand

    The retailer plans to increase its inventory priced below Rs 1,000, from the current 15 percent to 20 percent and experiment with more variety, CFO Anand Agarwal tells Moneycontrol

  • GST collections rise 9.1% to Rs 1.89 lakh crore in September

    GST collections rise 9.1% to Rs 1.89 lakh crore in September

    Collections have stayed above Rs 1.8 lakh crore for nine straight months

  • Fiscal deficit widens at 38.1% of FY26 target during first five months

    Fiscal deficit widens at 38.1% of FY26 target during first five months

    The Rs 2.7 lakh crore dividend transfer from the Reserve Bank of India has helped provide some cushion, but international agencies are expecting a slippage in this year's fiscal deficit.

  • ED attaches Rs 15.41-crore worth of properties in GST fraud case

    ED attaches Rs 15.41-crore worth of properties in GST fraud case

    According to ED, the accused issued bogus GST invoices, fraudulently generating and passing on fake Input Tax Credit valued at over Rs 734 crore.The fraud spans three states and involves 135 shell companies

  • Government may invoke Legal Metrology Act to check profiteering on GST rate cuts

    Government may invoke Legal Metrology Act to check profiteering on GST rate cuts

    CBIC is collecting pre and post-rationalisation GST data to identify instances where the benefits of the tax cut are not being passed on.

  • Summer Washout: Can Voltas recover the lost momentum?

    Summer Washout: Can Voltas recover the lost momentum?

    Lower prices after the GST cut, pent-up demand, and festive season sales should support growth

  • Rural India drives consumer boom as GST cuts, festive season fuel demand: Report

    Rural India drives consumer boom as GST cuts, festive season fuel demand: Report

    Major automakers like Maruti Suzuki, Hyundai, and Tata Motors reported car sales in rural areas rising between 100% and 133% compared with the pre-GST period

  • Heritage Foods: A compelling play on premium dairy items, GST reforms

    Heritage Foods: A compelling play on premium dairy items, GST reforms

    Expanding VAP contribution and ice-cream capacity position HFL for operating leverage-led earnings acceleration

  • OPINION | There’s a window of opportunity now for a repo rate cut

    OPINION | There’s a window of opportunity now for a repo rate cut

    Inflation’s low but urban consumption is tepid, investment cycle is yet to pick up and geopolitical uncertainty is a dampener. Fiscal support’s come through GST rate adjustments. Monetary policy needs to complement it

  • Make in India 2.0 to focus on sectors that will shape global economy over next 25 years: Amit Shah

    Make in India 2.0 to focus on sectors that will shape global economy over next 25 years: Amit Shah

    The Modi government brought in transparency in the data concerning Non-Performing Assets (NPA), said the Union minister, adding that the government infused Rs 3.10 lakh crore capital in the banking sector.

  • Network18’s Reforms Reloaded Convenes India’s Top Minds to Discuss the Future and Impact of GST Reforms

    Network18’s Reforms Reloaded Convenes India’s Top Minds to Discuss the Future and Impact of GST Reforms

    Through power-packed panels and exclusive conversations, the forum explored how GST 2.0 can transform industries, empower enterprises, unlock new opportunities, and accelerate Bharat’s rise on the global stage.

  • GST cuts spark festive cheer for TVs, dishwashers; retailers report double-digit growth

    GST cuts spark festive cheer for TVs, dishwashers; retailers report double-digit growth

    Industry believes that this festival will be one of the most promising in recent years for the consumer electronics and home appliances market, as families are definitely spending more and upgrading quicker.

  • Southern states to gain most from GST cuts

    Southern states to gain most from GST cuts

    Kerala’s CPI could fall 1.37 percentage points; overall impact may lower national inflation by nearly 1 percentage point

  • Railway PLB gets Modi govt nod after GST bonanza: Spotlight on DA hike, 8th Pay Commission update

    Railway PLB gets Modi govt nod after GST bonanza: Spotlight on DA hike, 8th Pay Commission update

    Railway PLB gets Modi govt nod after GST bonanza: Spotlight on DA hike, 8th Pay Commission update

  • Moneycontrol Pro Panorama | Motown fills up on GST rate cuts

    Moneycontrol Pro Panorama | Motown fills up on GST rate cuts

    In Moneycontrol Pro Panorama September 23 edition: Indian IT faces the blues with new H1B visa rule, GST cuts brought to fuel demand but is consumption at par, India must harness AI potential to boost trade, redesigning UPI infra important to bring new phase of digital economy, and more

  • Jet fuel inclusion in GST at least a year away; relief on auto cess unlikely

    Jet fuel inclusion in GST at least a year away; relief on auto cess unlikely

    Shashank Priya, special secretary and CBIC member, says focus is on consolidating GST 2.0 reforms; industry told to adjust to cess burden for now

  • LIVE: Samir Arora on beating the market and backing new-age stocks

    LIVE: Samir Arora on beating the market and backing new-age stocks

    Markets are swinging on global headlines — from US tariffs and visa curbs to policy changes at home. With GST cuts set to influence corporate earnings, Samir Arora, Founder of Helios Capital, shares how these shifts are shaping investor sentiment, how foreign flows are reacting, and which sectors he believes are worth holding — and which to avoid.

  • Bachat Utsav: How GST 2.0 makes Navratri a festival of savings and growth

    Bachat Utsav: How GST 2.0 makes Navratri a festival of savings and growth

    Lower taxes on essentials and aspirational products create household relief, stimulate consumption, and unlock sectoral opportunities

  • PM-EAC's Sanjeev Sanyal says India needs 'process reforms', not massive one-time rejigs

    PM-EAC's Sanjeev Sanyal says India needs 'process reforms', not massive one-time rejigs

    The economist said small changes such as changing three words in a law could ease most of the pains of businesses

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