GST 2.0 has arrived, bringing India a simpler, fairer, and more transparent tax system. The key change is a move from multiple tax slabs to just two: 5% for essentials and 18% for most goods and services. The outdated 28% slab is gone, making everyday items like cars, appliances, TVs, and air conditioners more affordable. … Read more
In a landmark decision aimed at making life more affordable for millions, the 56th GST Council has announced sweeping reforms under a new “Next-Gen GST” regime. Effective immediately, these changes bring significant GST rate cuts across a wide range of goods and services, benefiting households, farmers, and key industries. Major GST Rate Cuts Across the … Read more
The Goods and Services Tax Appellate Tribunal (GSTAT) is a key judicial body created to resolve disputes under the GST law. It serves as the second level of appeal for taxpayers and tax authorities who are dissatisfied with decisions from the initial GST authority. Role and Functions The GSTAT’s main objective is to provide a … Read more
GST Rate Changes: Comprehensive FAQs from the 56th GST Council Meeting Based on the recommendations of the 56th GST Council meeting held on September 3, 2025, the CBIC has released a comprehensive set of FAQs to clarify the new GST rates, effective from September 22, 2025. These changes are designed to simplify the tax regime, … Read more
GST Council Announces Major Tax Reforms The 56th meeting of the GST Council, chaired by Union Finance Minister Smt. Nirmala Sitharaman, concluded on September 4, 2025, in New Delhi. The council announced sweeping reforms aimed at simplifying the tax structure, easing compliance, and providing relief to citizens. Key Decisions from the Meeting The GST Council’s … Read more
GST Reforms to Benefit Citizens and Businesses, PM Modi Announces Prime Minister Narendra Modi has announced that the GST Council has unanimously approved “next-generation” reforms aimed at simplifying the tax structure and reducing rates on a wide range of goods and services. The changes, which were proposed by the Union Government and will take effect … Read more
A massive gold export fraud at Chennai Airport Cargo has been exposed, leading to the Central Bureau of Investigation (CBI) filing a case against 13 individuals, including five customs officials. The scam, which allegedly cost the Indian government over ₹1,000 crore annually from 2020 to 2022, involved exploiting a government scheme intended to facilitate gold … Read more
At the 56th GST Council Meeting, several states have expressed concerns about potential revenue losses due to the proposed restructuring of GST rates. Karnataka, Punjab, and West Bengal specifically requested that the central government provide an estimate of the likely revenue loss. The report also mentioned that Telangana and Sikkim may have voiced similar apprehensions. … Read more
MSME registration could soon be a three-day process, a major change from the weeks it currently takes. This is one of the key updates from the 56th GST Council Meeting, aimed at making it easier for small businesses to get started. Sources told Moneycontrol that new measures would allow non-risky businesses to get their registration … Read more
Eight opposition-ruled states in India are demanding compensation from the central government for potential revenue losses under a proposed new GST structure. The states—Himachal Pradesh, Jharkhand, Kerala, Punjab, Tamil Nadu, Telangana, West Bengal, and Karnataka—are concerned that the government’s plan to reduce the number of GST slabs from four to two (5% and 18%) will … Read more
