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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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  • 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 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

    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 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

    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

    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

    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

    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

    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’

  • Reformed GST slabs trigger surge in market and consumer confidence: Piyush Goyal

    Reformed GST slabs trigger surge in market and consumer confidence: Piyush Goyal

    GST reforms came into effect in India on September 22, following the 56th GST Council meeting

  • Over half of 54 monitored items show full or greater GST pass-through, but stationery lags behind

    Over half of 54 monitored items show full or greater GST pass-through, but stationery lags behind

    Toothbrush has seen the highest pass through of the GST rate cut with prices dropping by nearly 5 percent more compared to the expected figure of 6.25 percent, followed by dried fruits and clinical diapers.

  • 'Impact of GST cuts will sustain beyond festive season': FM Sitharaman

    'Impact of GST cuts will sustain beyond festive season': FM Sitharaman

    "The consumption story will continue. We have corrected most of inverted duty structure," Sitharaman said.

  • GST on delivery charges impacted Zomato’s growth, says Eternal CFO Akshant Goyal

    GST on delivery charges impacted Zomato’s growth, says Eternal CFO Akshant Goyal

    Eternal expects demand recovery in Blinkit from Q3FY26 after GST rate cuts on essentials, but food delivery growth took a short-term hit as the new levy was passed on to customers.

  • GST 2.0 drives festive car sales, but food and medicine price cuts remain elusive: Survey

    GST 2.0 drives festive car sales, but food and medicine price cuts remain elusive: Survey

    Uneven pass-through of GST rate cuts in essential goods segments

  • Twenty stocks to light up Samvat 2082

    Twenty stocks to light up Samvat 2082

    MC Pro’s Research team has built the Diwali 2025 portfolio to help investors ride out the current uncertain market environment

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

    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

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