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    GST

    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 complaints ‘nearly negligible’; faster case redressal recovers Rs 14 crore, says Consumer Affairs Secy Khare

      In an exclusive interview with Moneycontrol, Khare detailed the government’s push to curb manipulative online practices, strengthen enforcement bodies and speed up consumer complaint resolution.

    • Centre, states gear up to tackle inverted GST duties across sectors: Report

      The move follows the GST rate cuts announced in September and is aimed at resolving a persistent distortion in the tax system

    • GST cut on solar modules offers limited relief as developers flag input credit challenges

      Power regulator CERC issued a suo motu order on November 4 directing all renewable energy developers (solar, wind, etc.) to pass on the benefit of the reduced tax rate to the discoms and, ultimately, to end consumers through a corresponding reduction in the electricity tariff.

    • November GST collections expected to hit Rs 2 trillion as demand stays firm: Report

      November collections, which reflect October sales, will show the first full-month impact of the rate cuts and will be released on 1 December

    • OPINION | Q2 GDP likely to get a boost from GST rate cut

      The GDP will be lower than Q1 but better than initial projections on account of the volume boost triggered by a reduction in the tax slab of many products. The deflator is expected to be low this quarter too

    • Despite GST 2.0 cuts, many policyholders say they face higher insurance premiums; 43% report no benefit

      While large players such as LIC have publicly stated that they can absorb the impact, the broader industry remains wary of margin pressure, evolving cost structures, and potential product-level recalibration

    • Centre nudges states to monetise power transmission assets

      Centre pushes states to monetise transmission assets through a proposed tax-efficient model as India readies for a massive grid expansion requiring Rs 9.1 lakh crore by 2032.

    • GST officers bust syndicate availing Rs 645 crore in fake input tax credit, one arrested

      Directorate General of GST Intelligence (DGGI), Delhi Zonal Unit, conducted coordinated search operations at multiple premises across Delhi

    • India will continue to see more inbound and domestic interest: Pramod Kumar, CEO Barclays Bank PLC, India

      Kumar says he is clear that while investment banking may be core to what Barclays does in the country, corporate banking is getting built as a pillar of strength for the bank

    • October CPI hits rock-bottom 0.25%: GST cuts shine, but food deflation rings alarm

      October’s CPI just hit 0.25%—the lowest since the 2011-12 series began. A triumph of policy? A statistical mirage? A rate cut in December? Or a warning bell for rural India?

    • Online prices show 7-10% correction after GST rate cuts: QuantEco Report

      These movements as part of an ongoing price discovery process in the post-GST environment.

    • Centre open to further cutting duties on essential drugs, says Piyush Goyal

      The minister suggested that hospitals could allow up to 10 percent of foreign patients and channel part of the revenue towards Ayushman Bharat or CSR initiatives for underprivileged communities

    • Union Budget may announce new central cess or NCCD on tobacco, pan masala

      Since this is not a GST levy, the Council’s approval will not be necessary. The new central levy will have to be approved by Parliament.

    • Britannia Industries plans to enter the ready-to-drink protein beverages space

    • Finance Bill 2026 likely to carry key GST reforms for quicker registration, 90% automatic refunds

      Legal amendments are likely to focus on easing compliance and improving liquidity; risk-based fast-track registration and automatic refund mechanism on the anvil

    • LIC’s GST impact under 1%, ITC burden not passed onto agents: CEO Doraiswamy

      The insurer expects that exemptions on life insurance products will boost business volumes, support top-line growth, and provide opportunities to optimise expenses

    • Insurance agents’ plea over commission cuts unlikely to be taken up by GST Council

      Insurance agents are seeking intervention from the government after insurers slashed commissions following the GST rate rejig, however, one official said the issue does not warrant council's intervention as the matter is a business arrangement within the industry.

    • GST revenue in FY26 to exceed budget estimates, says SBI Research

      GST collections in October, in gross terms, rose 4.6 percent to about 1.95 lakh crore compared to about 1.87 lakh crore in the same month last year

    • GST collections rise 4.6% to Rs 1.96 lakh crore in October

      October also extended the run of high inflows, making it the tenth consecutive month that revenues remained above the Rs 1.8 lakh crore mark

    • The GST Appellate Tribunal should not go the way of other tribunals

      The humongous workload is the surest indicator, if one was needed, that India’s newest disputes-resolution tribunal needs to adopt a radically different approach

    • Assocham seeks tax simplification to enhance ease of doing business

      In the pre-Budget memorandum shared with the Revenue Secretary Arvind Shrivastava, Assocham said the direct and indirect tax systems need procedural clarity, consistency and reduced compliance costs to make India’s manufacturing globally competitive.

    • OPINION | India’s consumption boom must power its manufacturing future

      India’s GST cuts have boosted consumption, but rising imports threaten domestic industry. To harness this demand, India must strengthen manufacturing through import substitution, PLI schemes, and strategic trade partnerships

    • GST 2.0, reforms to sustain growth momentum amid global uncertainties: FinMin

      Strong performance in the industries and services sector, along with a stable labour market, will further enhance domestic demand, the ministry's monthly economic review has said

    • No further GST levy on tobacco, tax incidence to be kept same with additional central tax

      The tax incidence on tobacco-related items is about 53 percent, while it is 88 percent on pan masala – comprising 28 percent GST and a compensation cess

    • FM cautions GST field formations against burdening taxpayers, pushes for tech-driven compliance

      Simplified GST registration from November 1 to benefit 96 percent of new applicants; Sitharaman urges shift away from ‘GST 1.0 mindset’

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