While delivering his Independence Day address on 15 August, Prime Minister Narendra Modi announced the long-overdue goods and service tax (GST) reforms. He promised a "double Diwali’ this year, ...
New GST Rate Change: India's GST system underwent a significant reform in September 2025 with the rollout of GST 2.0. The GST Council approved a simplified two-rate structure—5% and 18%—replacing the ...
GST tax rates on common use items ranging from hair oil to corn flakes, TVs, and personal health and life insurance policies were slashed after the all-powerful GST Council on Wednesday approved a ...
Value added tax (VAT) or goods and services tax (GST), also known as indirect taxes, are consumption taxes levied on any value that is added to a product. These are considered indirect taxes since the ...
When will the changes in GST rates come into force? As per recommendations of the GST Council in its 56th meeting, the changes in GST rates on services and goods other than cigarettes, chewing tobacco ...
Banks now analyse GST returns, bank statements, and ITR data to assess financial discipline and repayment capacity before approving loans. The article explains how GST compliance directly impacts MSME ...
A GST invoice is generated by a supplier or seller of goods and services to the buyer. The document contains purchase information and details of the supplier and buyer. According to a circular issued ...
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