The Goods and Service Tax System or the revolutionary tax system took more than a decade of intense debate to come to fruition and finally it came into existence two-years before. GST was introduced to the country to reduce the tax burden on producers and foster growth through more production. Though the tax structure has […]

Two years after its launch, the government has begun the biggest review of GST – including a possible resetting of rates along with a scrutiny of the slabs-to tone up collections and plug leakages. The task has been assigned to a 12-member committee of state and central government officials to “augment GST collection and administration”, […]

The government’s move to slash goods and services tax (GST) on job work services in diamond trade to 1.5% from 5% will help arrest job losses in Gujarat, the country’s diamond cutting and polishing hub, and get exporters a refund of Rs 200 crore which was blocked on this account, said industry executives. Simultaneously, silver […]

The Goods and Services Tax (GST) Council could lower levies for sectors such as automobiles, biscuits and other fast-moving consumer goods (FMCG) at its September 20 meeting, said people with knowledge of the matter. It could also discuss raising the lowest slab of 5% to as much as 8%. That could set the ball rolling […]