Tag Archives: GST Council

Tobacco products, including cigarettes and pan masala, contribute substantially to government tax collections. (AI image) India may explore increasing the goods and service tax (GST) on tobacco products, including cigarettes, after it stops levying the compensation cess on them.Tobacco products, including cigarettes and pan masala, contribute substantially to government tax collections, with revenue reaching ₹72,788 crore during 2022-23.Currently, tobacco products …

New Delhi: Finance minister Nirmala Sitharaman dismissed concerns over any rise in Goods and Services Tax (GST) rates, claiming that not even one item has seen an increase since the introduction of the GST regime.Speaking during question hour in the Rajya Sabha on Tuesday, she highlighted that the GST rates have instead been reduced, bringing the average rate down from …

GST reforms: The primary objective will be to restructure the tax slabs to ensure meaningful outcomes. More tax relief coming soon? The Narendra Modi government, having provided substantial relief in personal income tax and customs tariff rationalisation in the Union Budget 2025, is now expected to initiate efforts to streamline the goods and services tax (GST) framework for easier implementation …

GST collections grew 7.3% to Rs 1,76,857 crore in Dec, amid a slowdown in demand in several segments of the economy and concerns over weak urban demand.Domestic collections in Dec (based on transactions in the previous month) grew 8.4% to Rs 1,32,589 crore, while those related to imports were 3.9%. The good news was that govt did not hesitate from …