It isn't just small cars and two-wheelers, large sedans and SUVs too are likely to see a sharp reduction in prices as goods ...

The new system is a step towards a simpler mode in India's seven-year-old GST regime, originally conceived as a single ...

In a key meeting held on Thursday, the panel of state ministers accepted the Centre’s plan to reduce the four-rate system to ...

Indian Prime Minister Narendra Modi will likely face tough negotiations with states, who are expected to shoulder the bulk of ...

The Group of Ministers, a key decision-making panel on Goods and Services Tax (GST), has approved the Centre's proposal to ...

Since the beginning, the policy-makers knew that the Goods and Services Tax (GST) should have minimal slabs and rates. Yet, ...

The Group of Ministers on rate rationalisation endorsed the Centre’s plan to introduce a simpler structure, replacing the ...

Led by Bihar Deputy Chief Minister Samrat Choudhary, the six-member GoM agreed to streamline the present four-tier GST system ...

Under Centre’s proposed plans, government wants to reduce the current rate structure to just two slabs of 5 percent and 18 percent, removing 12 percent and 28 percent rate tiers.

The six-member panel, led by Bihar Deputy Chief Minister Samrat Choudhary, agreed to phase out the current four-tier framework of 5, 12, 18 and 28 per cent.

At present, Goods and Services Tax (GST) has four slabs of 5, 12, 18 and 28 per cent. While food items are either taxed at 0 or 5 per cent, luxury and sin goods are taxed at 28 per cent.