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FIX GST ON CAPITAL GOODS TO REVIVE PRIVATE INVESTMENT Why in the News? Policy debate: An opinion article flags structural flaws in GST treatment of capital goods, linking them to weak private investment response and potential impacts on environmental clearances. Budget relevance: The issue gains urgency ahead of the Union Budget, where reviving private investment …
Read MoreGST 2.0 IS A LANDMARK IN INDIA’S TAX JOURNEY Why in the news? The simplification of multiple GST slabs marks a people-centric reform. The 56th GST Council meeting (September 3, 2025) stands out as a defining milestone in India’s tax history. The reforms extend beyond mere tax rates and structures. They reflect a decisive move …
Read MoreTwo-Rate GST Structure to Begin from September 22 Why in the News ? The GST Council, in its 56th meeting, approved a two-rate GST structure of 5% and 18%, along with a special 40% slab for sin and luxury goods. This significant policy reform, effective from September 22, 2025, aims to simplify taxation and reduce …
Read MoreLUXURY CESS MAY BE MERGED INTO GST STRUCTURE Why in the News? Cess expiry: The Compensation Cess, extended till March 2026, may be integrated into GST rates post-expiry. GST Council talks: The Finance Ministry supports integrating cess on luxury and sin goods like SUVs, tobacco, and aerated drinks. Eight-year journey: Introduced in 2017 to compensate …
Read MoreWhy in the news? Vijay Kelkar calls for urgent GST reform, advocating a single 12% rate and equitable revenue sharing with local governments. source:slideserve About the Proposal for Single GST Rate: Advocates adoption of a single GST rate of 12%, shared equally among all tiers of government, to streamline tax structure. Highlights success of countries …
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