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GST reforms to provide relief to families, ease compliance for businesses: India Inc

New Delhi: India Inc on Thursday hailed the GST Council’s “forward-looking decisions” –moving to two rates of 5 per cent and 18 per cent from 22 September, simplifying refunds and MSME procedures, and exempting individual life and health insurance from the indirect tax regime. Industry bodies said the clarity will ease compliance, reduce litigation, and…

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GST Council cuts tax on dairy products, farm equipment, fertiliser and biopesticides

New Delhi: The Goods and Services Tax Council on Wednesday decided to reduce tax rates on several dairy products, fertilisers, biopesticides, and agricultural equipment, providing relief to farmers and consumers ahead of the festive season. The 56th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, approved significant rate cuts for the…

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