India’s trade minister Piyush Goyal said that India should be able to resolve its differences with the united states and conclude a “fair, equitable and balanced” bilateral trade agreement

Piyush Goyal calls for fair, equitable trade agreement

Union Finance Minister Nirmala Sitharaman on Wednesday (Sep 3) addressed the media and announced that the GST Council, in its meeting, approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from September 22, 2025, with the exception of tobacco products, based on certain conditions. The Council will also meet on Thursday (Sep 4). Calling it a ‘historic Diwali gift for the nation’, Sitharaman said that these next-generation GST reforms are for ease of living and to build an Aatmanirbhar Bharat.

New GST reform: What gets cheaper and what becomes costlier under new slabs? 

Discover how recent GST reductions are making education more affordable and lowering the cost of essential daily products for consumers. With taxes cut on key items, families can save more on everyday needs while also benefiting from easier access to quality education. Watch in to know more! 


GST tax reform: What students need to know about GST revision

Union Finance Minister Nirmala Sitharaman on Wednesday (Sep 3) addressed the media and announced that the GST Council, in its meeting, approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from September 22, 2025, with the exception of tobacco products, based on certain conditions. The Council will also meet on Thursday (Sep 4). Calling it a ‘historic Diwali gift for the nation’, Sitharaman said that these next-generation GST reforms are for ease of living and to build an Aatmanirbhar Bharat.


WION explains how your next bucket of popcorn will be taxed under GST 2.0 regime

 The ticket prices will increase for IPL matches from the 2026 season after the government levied a 40% GST on the tickets for the world's richest cricket league.


40% ST on IPL tickets, prices to increase

India: Finance Minister clarifies GST reforms not linked to US tariffs 

GST reform: What gets cheaper and what becomes costlier under new slabs? 

GST tax reform: GST rates slashed on daily-use items like soaps, bicycles

India’s GST Council has rolled out a bold 40% tax slab for super luxury and sin goods  the highest-ever GST rate. From private jets to pan masala, this move targets extravagance while easing the burden on essentials. Here’s a breakdown of what falls under this new slab, what it means for you, and how it fits into the broader GST reform to benefit the common man.

GST Reform: PM Modi Hails GST Reforms Unveiled By Finance Minister Nirmala Sitharaman

India’s GST Council has rolled out a bold 40% tax slab for super luxury and sin goods  the highest-ever GST rate. From private jets to pan masala, this move targets extravagance while easing the burden on essentials. Here’s a breakdown of what falls under this new slab, what it means for you, and how it fits into the broader GST reform to benefit the common man.


GST Reform:  Health, Life Insurance Made Tax-free, Several Medical Essentials Made Cheaper

India’s GST Council has rolled out a bold 40% tax slab for super luxury and sin goods  the highest-ever GST rate. From private jets to pan masala, this move targets extravagance while easing the burden on essentials. Here’s a breakdown of what falls under this new slab, what it means for you, and how it fits into the broader GST reform to benefit the common man.



GST Reform: Government Unveils Next-Generation Changes; Daily Essentials Get Cheaper

New GST update: Super luxury goods now heavily taxed | 40% tax slab explained! 

India’s finance minister Nirmala Sitharaman has unveiled sweeping tax cuts under the goods and services tax to boost consumption in the face of 
U.S. Tariffs. The GST council has slashed rates on more than a hundred consumer items, ranging from soaps and shampoos to small cars, air conditioners, and televisions. The rate cuts will be implemented from September 22.

India’s GST council cuts taxes on 100+ consumer items 

Finance Minister Nirmala Sitharaman has announced a major GST rate cut, approving a two-tier structure of 5% and 18%. The reform, set to be implemented from September 22, is aimed at easing the tax burden on the common man.

India's tax makeover: What gets cheaper and costlier?

GST Reforms: What Gets Cheaper And What Becomes Costlier Under New Slabs? 

Finance Minister Nirmala Sitharaman has announced a major GST rate cut, approving a two-tier structure of 5% and 18%. The reform, set to be implemented from September 22, is aimed at easing the tax burden on the common man.


Breaking: Indian government announces major tax cuts, goods get cheaper before Diwali 

Breaking: Majority items brought under 5% & 18% tax 

The GST Council on Wednesday (September 3) approved a new 40% tax slab for luxury and sin goods, introducing a major shift in India’s indirect tax framework. While the rollout date for this highest slab will be notified later, the simplified two-rate system of 5% and 18% will be enforced starting September 22. The 40% slab is meant to eventually replace the current cess mechanism and will apply to products such as paan masala, cigarettes, gutka, chewing tobacco, zarda, unmanufactured tobacco, and bidis. It will also cover premium items like large cars and high-end consumer goods.<h2>Watch the video here</h2>

<blockquote class="twitter-tweet" data-media-max-width="560"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Delhi: After the 56th GST Council meeting, Union Finance Minister Nirmala Sitharaman says, &quot;There is a special rate which is 40%. Almost all goods are between 18% and 5%. There is one special rate which is only for sin and super luxury goods. That special rate of 40% has… <a href="https://t.co/nFZZMhbfVi">pic.twitter.com/nFZZMhbfVi</a>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1963286413241094530?ref_src=twsrc%5Etfw">September 3, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Finance Minister Nirmala Sitharaman, while announcing sweeping rate cuts, said the new structure is aimed at reducing the tax load on ordinary households. “The 40% rate is confined to tobacco-based products and certain high-sugar and carbonated beverages, including caffeinated and fruit-based fizzy drinks. Everything else will fit into the two main slabs of 5% and 18%,” she explained.&nbsp;She clarified that the existing 28% slab along with the compensation cess will remain until repayment of pending GST loans, after which those categories will be subsumed into the new 40% band. With this rationalisation, the GST system now rests on three broad slabs—5%, 18%, and 40%, effectively scrapping the earlier 12% and 28% categories. Essential items such as food and textiles will be taxed at a uniform 5%, while consumer durables including refrigerators, large-screen televisions, and air-conditioners will be brought under the 18% bracket, reducing their overall tax burden.&nbsp;Meanwhile, the Union Finance Minister Nirmala Sitharaman also lashed out at the Opposition. She said, “Congress could not implement it during its tenure. It was implemented under PM Modi's leadership and reforms are also being done. Congress should make up its mind whether to support him or not. People will not be misled by you today. People will give you an answer.”

GST 2.0: Finance minister Nirmala Sitharaman announces new slab of 40% for sin, luxury goods

The GST Council on Wednesday (September 3) approved a new 40% tax slab for luxury and sin goods, introducing a major shift in India’s indirect tax framework. While the rollout date for this highest slab will be notified later, the simplified two-rate system of 5% and 18% will be enforced starting September 22. The 40% slab is meant to eventually replace the current cess mechanism and will apply to products such as paan masala, cigarettes, gutka, chewing tobacco, zarda, unmanufactured tobacco, and bidis. It will also cover premium items like large cars and high-end consumer goods. Watch the video here

Union Finance Minister Nirmala Sitharaman on Wednesday (September 3) also announced that the new two-tier tax structure will come into effect from September 22

India’s GST panel has proposed a major relief for citizens — exempting health and life insurance premiums from the current 18% tax. The recommendation comes soon after Prime Minister Modi announced sweeping GST cuts to revive economic momentum amid trade tensions with the U.S. If approved by the GST Council in the upcoming meeting before Diwali, the move could lead to a revenue loss of ₹9,700 crore but ease financial burdens on millions of Indian families.


India's GST rate cuts keep markets on edge

India’s GST panel has proposed a major relief for citizens — exempting health and life insurance premiums from the current 18% tax. The recommendation comes soon after Prime Minister Modi announced sweeping GST cuts to revive economic momentum amid trade tensions with the U.S. If approved by the GST Council in the upcoming meeting before Diwali, the move could lead to a revenue loss of ₹9,700 crore but ease financial burdens on millions of Indian families.

India’s GST 2.0 reforms push gains momentum

The Indian government expects this festive season to see bumper diwali spending triggering the market and the economy.
Those expectations are driven by the government's decision to lower goods and services tax (gst) rates to come before Diwali.

Government expects demand boost from tax cuts

Prime Minister Narendra Modi, in his speech about GST reforms, said, "This Diwali, I am going to make it a double Diwali for you... Over the past eight years, we have undertaken a major reform in GST... We are bringing next-generation GST reforms. This will reduce the tax burden across the country"


Is India's latest GST reform better than the older one? | What got cheaper? 

India is set to witness its biggest GST reform since 2007 after Prime Minister Narendra Modi announced a significant decision while addressing the nation on Independence Day to simplify the GST framework by Diwali. The decision was announced to reduce taxes primarily on everyday items to boost consumer spending and cushion the economy amid trade pressures, with the aim of boosting disposable incomes for the middle class.&nbsp;PM Modi has also said that taxes paid by citizens will be drastically reduced, and it will benefit small industries as well as MSMEs, along with daily-use products that will become cheaper.<h3>What taxes will come down, and what will get cheaper?</h3>The four-tier GST structure (5%, 12%, 18%, and 28%) will be streamlined into two main slabs: 5 per cent and 18 per cent. Additionally, a special 40 per cent rate for luxury goods and sin goods like tobacco, according to a report by TOI.&nbsp;Notably, 99 per cent of items currently taxed at 12 per cent may shift to the 5 per cent slab, dramatically reducing prices on numerous essentials. Similarly, up to 90 per cent of goods in the 28 per cent category, including consumer durables and automobiles, could be moved to the 18 per cent slab, as per the PTI report.Also read: <a href="https://www.wionews.com/india-news/independence-day-pm-modi-announces-major-gst-reforms-what-does-it-mean-for-middle-class-1755252273141">PM Modi announces major GST reforms. What does it mean for middle class</a>&nbsp;As per the Mint report, everyday essential items that will get cheaper will include groceries, medicines, and frozen veggies. Food items include dried fruits, jams, pasta, namkeens, and sausages. Household goods include utensils, carpets, furniture, and umbrellas. Lifestyle products include footwear (below ₹1,000), handbags (jute/cotton), and appliances (televisions and washing machines); Education &amp; insurance services; and the Farm sector includes agricultural equipment and bicycles.&nbsp;Additionally, small cars, which currently attract 28 per cent GST plus small cess rates of 1-3 per cent, might get moved into the 18 per cent tax slab in the new dispensation, government sources told The Indian Express. On the other end, the bigger luxury cars and SUVs are likely to be moved into the special rate category of 40 per cent following the removal of the 28 per cent slab, sources added.<h3>What will remain unchanged?</h3>According to the Economic Times, the GST structure will continue to feature the 5%, 18%, and 40% slabs, with no mention of further lowering of luxury items beyond the sin goods bracket. Moreover, products like petroleum and alcohol, which are outside the GST regime, are taxed as before.&nbsp;While this revamp in the tax is expected to cost the exchequer significantly, officials affirmed that the revenue loss can be managed through efficient fiscal planning. In addition, economists estimate that the cuts could give a 0.6–0.7% GDP boost, as per the news agency Reuters. &nbsp;

The upcoming GST reform is likely to revamp the four-tier GST structure (5%, 12%, 18%, and 28%), streamlining it into two main slabs. Taxes paid by citizens will be drastically reduced, and it will benefit small industries as well as MSMEs, along with daily-use products.

India is set to witness its biggest GST reform since 2007 after Prime Minister Narendra Modi announced a significant decision while addressing the nation on Independence Day to simplify the GST framework by Diwali. The decision was announced to reduce taxes primarily on everyday items to boost consumer spending and cushion the economy amid trade pressures, with the aim of boosting disposable incomes for the middle class. PM Modi has also said that taxes paid by citizens will be drastically reduced, and it will benefit small industries as well as MSMEs, along with daily-use products that will become cheaper. What taxes will come down, and what will get cheaper? The four-tier GST structure (5%, 12%, 18%, and 28%) will be streamlined into two main slabs: 5 per cent and 18 per cent. Additionally, a special 40 per cent rate for luxury goods and sin goods like tobacco, according to a report by TOI. Notably, 99 per cent of items currently taxed at 12 per cent may shift to the 5 per cent slab, dramatically reducing prices on numerous essentials. Similarly, up to 90 per cent of goods in the 28 per cent category, including consumer durables and automobiles, could be moved to the 18 per cent slab, as per the PTI report. Also read: PM Modi announces major GST reforms. What does it mean for middle class As per the Mint report, everyday essential items that will get cheaper will include groceries, medicines, and frozen veggies. Food items include dried fruits, jams, pasta, namkeens, and sausages. Household goods include utensils, carpets, furniture, and umbrellas. Lifestyle products include footwear (below ₹1,000), handbags (jute/cotton), and appliances (televisions and washing machines); Education & insurance services; and the Farm sector includes agricultural equipment and bicycles. Additionally, small cars, which currently attract 28 per cent GST plus small cess rates of 1-3 per cent, might get moved into the 18 per cent tax slab in the new dispensation, government sources told The Indian Express. On the other end, the bigger luxury cars and SUVs are likely to be moved into the special rate category of 40 per cent following the removal of the 28 per cent slab, sources added. What will remain unchanged? According to the Economic Times, the GST structure will continue to feature the 5%, 18%, and 40% slabs, with no mention of further lowering of luxury items beyond the sin goods bracket. Moreover, products like petroleum and alcohol, which are outside the GST regime, are taxed as before. While this revamp in the tax is expected to cost the exchequer significantly, officials affirmed that the revenue loss can be managed through efficient fiscal planning. In addition, economists estimate that the cuts could give a 0.6–0.7% GDP boost, as per the news agency Reuters.

The upcoming GST reform is likely to revamp the four-tier GST structure (5%, 12%, 18%, and 28%), streamlining it into two main slabs. Taxes paid by citizens will be drastically reduced, and it will benefit small industries as well as MSMEs, along with daily-use products.

GST overhaul by Diwali: What taxes will come down, what remains unchanged — Details inside

As we track global trends in tax policies, Indian consumers may be headed for a major cut in indirect taxes. Finance Minister Nirmala Sitharaman has hinted at a major rehaul to the country's goods and services taxes and has even suggested that we may be headed for tax rate cuts.The proposed changes could ease prices for households while giving a boost to business sentiment.<h2>Items under the 12% tax slab rate</h2>Just last week, reports suggested that the GST council was looking to do away with the 12 per cent tax slab to make compliance easier. &nbsp;

Graphics showcasing items under the 12% Tax Slab Rate

The proposal added that essentials under the 12 per cent tax slab would be moved into a lower tax slab. However, much will depend on how these reforms are structured and whether they strike the right balance between simplicity and revenue needs. Lower GST rates could translate to reduced costs on goods and services, offering some relief from persistent inflation. A streamlined structure might also help make pricing more transparent.From an economic standpoint, simplifying the tax regime could improve compliance and reduce operational friction for businesses. Still, concerns remain around how this will affect states’ revenues, which are partly dependent on GST collections. Small businesses, while potentially benefiting from reduced complexity, May still face challenges adapting to new structures and reporting requirements.Internationally, India’s push mirrors a broader trend of tax reform aimed at economic competitiveness. The restructuring also seeks to address long-standing inefficiencies, but implementation will be key. As the country awaits the next GST council meeting, optimism is tempered by the need for careful design and broad-based consensus to ensure the reforms are both sustainable and equitable.&nbsp;

With plans to scrap the 12% GST slab, India eyes lower indirect taxes on key items—promising relief for consumers, streamlined compliance for businesses, and a more transparent, efficient tax structure.

As we track global trends in tax policies, Indian consumers may be headed for a major cut in indirect taxes. Finance Minister Nirmala Sitharaman has hinted at a major rehaul to the country's goods and services taxes and has even suggested that we may be headed for tax rate cuts. The proposed changes could ease prices for households while giving a boost to business sentiment. Items under the 12% tax slab rate Just last week, reports suggested that the GST council was looking to do away with the 12 per cent tax slab to make compliance easier.

India’s proposed GST reforms may eliminate the 12% slab, potentially making essential goods and services cheaper while aiming to simplify tax compliance.

India GST reforms: What will likely become cheaper?

On July 1, 2017 midnight, India saw what was described as a “tryst with economic destiny”. Under a ceremonial launch in Parliament's Central Hall, the Goods and Services Tax (GST) was rolled out as the most comprehensive indirect tax reform in independent India. Celebrated as a "Good and Simple Tax," GST would make the tax environment simpler, integrate the Indian market, and enhance efficiency on all fronts.&nbsp;Eight years on, the question still is: has GST fulfilled those commitments?<h2>Why reform was necessary</h2>Prior to 2017, India's indirect tax regime was a broken patchwork of various state and central imposts such as VAT, excise duty, octroi, and service tax. Each state had its own rates and rules, creating a network of inefficiencies, cascading tax incidence, and formidable administrative challenges. Goods moving from one state to another often experienced long delays and numerous checkpoints, which held up supply chains and added costs.&nbsp;GST vowed to substitute this disorder with a single tax system, incorporating 17 major taxes and 13 cesses. It sought to remove the artificial state boundaries, facilitating free flow of goods and establishing an actual single national market.<h2>A dual GST model, multiple slabs</h2>India implemented a dual GST model consisting of Central GST (CGST), State GST (SGST), and Integrated GST (IGST) for inter-state supplies. While this framework enabled the Centre as well as the states to have fiscal autonomy, it also created a somewhat complex tax architecture.&nbsp;&nbsp;Rather than one rate, the GST Council introduced a multi-rate structure with tax slabs of 5 percent, 12 percent, 18 percent, and 28 percent, besides zero-rated and exempted goods. As of 2025, more than 1,370 goods and services are categorized under these slabs. Even with repeated attempts to rationalize the rates, the intricateness is a problem—particularly for small businesses confronting classification controversies, duplicated rates, and compliance issues.<h2>Revenue trends</h2>GST collections have seen consistent growth in recent years. In its very first year, FY2017-18, the average monthly GST collection was about ₹90,000 crore. This amount has grown significantly, with FY2024-25 (up to March 2025) recording an average monthly gross GST collection of ₹1.68 lakh crore, up by a good 12 percent compared to the last fiscal year.&nbsp;The ₹1 lakh crore milestone collection was first regularly breached from November 2020 onwards. Monthly collections have been consistently exceeding ₹1.5 lakh crore since April 2023, and in April 2024, the government had its highest ever monthly collection of ₹2.10 lakh crore.&nbsp;&nbsp;These indicate the tax base's expansion and compliance improvements, although this increasing trend has not been continuous. In the pandemic situation of COVID-19, collections fell steeply in April and May 2020 because of the slowdown in economy. The recovery started in the third quarter of FY21 due to higher formalisation, tightened enforcement, and growing digital infrastructure.<h2>Formalisation of the economy</h2>One of the biggest achievements of the GST regime has been the formalisation of economic activity. At the time of the roll-out of GST, there were about 1.03 crore registered taxpayers. This figure had increased to more than 1.46 crore as of March 2025—a whopping 42 percent jump in merely eight years.&nbsp;Contributing to this success is the use of technological interventions like e-way bills, which allow the real-time tracking of goods. Until March 2025, over 374 crore e-way bills had been created. Yet another significant development has been the rollout of e-invoicing, which became obligatory for those businesses whose turnover exceeds ₹5 crore with effect from August 2023. This has not only subdued the printing of spurious invoices but also aided in the simplification of tax credits and real-time tracking.&nbsp;Moreover, the government launched the Quarterly Return Monthly Payment (QRMP) scheme for small taxpayers to relax their compliance burden. At the same time, the Composition Scheme, with the facility of payment of tax at a fixed rate with low compliance, had 18.60 lakh registered taxpayers up to March 2025. All these have added up to make a more formal, transparent, and accountable tax system.<h2>Efficiency and compliance</h2>GST compliance has shown marked improvement over the years. When the system was launched in 2017-18, the return filing rate for the monthly GSTR-3B form hovered around 55 to 60 percent. By 2023-24, the timely filing compliance had crossed 90 percent. However, the compliance journey has not been entirely smooth. Taxpayers are now obligated to file a series of forms—GSTR-1 for outward supplies, GSTR-3B for return in summary form, and GSTR-9 and GSTR-9C for annual returns. This complexity continues to prove difficult, particularly for small and medium enterprises.&nbsp;The Input Tax Credit (ITC) system, which forms the backbone of the GST regime, has also faced glitches. Delays in the processing of refunds and discrepancies in reporting invoices have caused working capital issues for businesses, particularly exporters. Additionally, fraudulent activities and troubles in blocked credits have disrupted the effectiveness of the credit system.<h2>Cooperative federalism in GST Council</h2>The GST Council, which is the first federal body in India made up of Centre and state representatives, was established for achieving consensus-based decision-making. The Council has had 52 meetings since it was formed to address matters varying from rate rationalisations to norms of compliance. The Council, in its early days, showed enormous cooperation amongst the members. But discord started emerging during the pandemic period, especially regarding the payment of compensation cess to states.&nbsp;As states were confronted with large revenue deficits, the Centre was forced to borrow to reimburse them—testament to the weakness of the fiscal compact. The mechanism of compensation cess, which was envisaged to be temporary for five years, was later put in place to April 2026 to take care of borrowings incurred during the pandemic. These events have stretched the limits of cooperative federalism but not broken it. The GST Council remains an efficient, if sometimes acrimonious, decision-making forum.<h2>Challenges ahead</h2>Albeit impressive strides, GST is still a work in progress. The intricacy of the slab structure, five big rates plus exemptions, still prevents simplification. Compliance rules continue to be cumbersome for micro and small business. Interstate trade barrier reductions have been achieved, while classification disputes and legal uncertainties continue to pervade.&nbsp;The increasing appeals backlog and litigation is indicative of yet another pressing concern—interpretational clarity. Companies are still looking for more predictability and simplicity in knowing their tax burden.&nbsp;Eight years since its historic rollout, GST has transformed the Indian tax system in ways never seen before. It has integrated the market, promoted formalisation, got more firms into the tax net, and delivered relatively stable exchequer growth over this period. Its tech revolution is likely its least noticed achievement.&nbsp;But for all its success, GST remains far from the "Good and Simple Tax" it originally aimed to be. The road ahead calls for political will to simplify slabs, minimise litigation, and enhance business-friendliness of compliance—particularly for India's enormous MSME economy. GST is no failed reform. It is a bold, complicated, and in-progress one. Whether it realises its complete potential will hinge on how the next phase of reform is managed.

Indias experiment with One Nation One Tax Did GST deliver on the promises

On July 1, 2017 midnight, India saw what was described as a “tryst with economic destiny”. Under a ceremonial launch in Parliament's Central Hall, the Goods and Services Tax (GST) was rolled out as the most comprehensive indirect tax reform in independent India. Celebrated as a "Good and Simple Tax," GST would make the tax environment simpler, integrate the Indian market, and enhance efficiency on all fronts. Eight years on, the question still is: has GST fulfilled those commitments? Why reform was necessary Prior to 2017, India's indirect tax regime was a broken patchwork of various state and central imposts such as VAT, excise duty, octroi, and service tax. Each state had its own rates and rules, creating a network of inefficiencies, cascading tax incidence, and formidable administrative challenges. Goods moving from one state to another often experienced long delays and numerous checkpoints, which held up supply chains and added costs. GST vowed to substitute this disorder with a single tax system, incorporating 17 major taxes and 13 cesses. It sought to remove the artificial state boundaries, facilitating free flow of goods and establishing an actual single national market. A dual GST model, multiple slabs India implemented a dual GST model consisting of Central GST (CGST), State GST (SGST), and Integrated GST (IGST) for inter-state supplies. While this framework enabled the Centre as well as the states to have fiscal autonomy, it also created a somewhat complex tax architecture. Rather than one rate, the GST Council introduced a multi-rate structure with tax slabs of 5 percent, 12 percent, 18 percent, and 28 percent, besides zero-rated and exempted goods. As of 2025, more than 1,370 goods and services are categorized under these slabs. Even with repeated attempts to rationalize the rates, the intricateness is a problem—particularly for small businesses confronting classification controversies, duplicated rates, and compliance issues. Revenue trends GST collections have seen consistent growth in recent years. In its very first year, FY2017-18, the average monthly GST collection was about ₹90,000 crore. This amount has grown significantly, with FY2024-25 (up to March 2025) recording an average monthly gross GST collection of ₹1.68 lakh crore, up by a good 12 percent compared to the last fiscal year. The ₹1 lakh crore milestone collection was first regularly breached from November 2020 onwards. Monthly collections have been consistently exceeding ₹1.5 lakh crore since April 2023, and in April 2024, the government had its highest ever monthly collection of ₹2.10 lakh crore. These indicate the tax base's expansion and compliance improvements, although this increasing trend has not been continuous. In the pandemic situation of COVID-19, collections fell steeply in April and May 2020 because of the slowdown in economy. The recovery started in the third quarter of FY21 due to higher formalisation, tightened enforcement, and growing digital infrastructure. Formalisation of the economy One of the biggest achievements of the GST regime has been the formalisation of economic activity. At the time of the roll-out of GST, there were about 1.03 crore registered taxpayers. This figure had increased to more than 1.46 crore as of March 2025—a whopping 42 percent jump in merely eight years. Contributing to this success is the use of technological interventions like e-way bills, which allow the real-time tracking of goods. Until March 2025, over 374 crore e-way bills had been created. Yet another significant development has been the rollout of e-invoicing, which became obligatory for those businesses whose turnover exceeds ₹5 crore with effect from August 2023. This has not only subdued the printing of spurious invoices but also aided in the simplification of tax credits and real-time tracking. Moreover, the government launched the Quarterly Return Monthly Payment (QRMP) scheme for small taxpayers to relax their compliance burden. At the same time, the Composition Scheme, with the facility of payment of tax at a fixed rate with low compliance, had 18.60 lakh registered taxpayers up to March 2025. All these have added up to make a more formal, transparent, and accountable tax system. Efficiency and compliance GST compliance has shown marked improvement over the years. When the system was launched in 2017-18, the return filing rate for the monthly GSTR-3B form hovered around 55 to 60 percent. By 2023-24, the timely filing compliance had crossed 90 percent. However, the compliance journey has not been entirely smooth. Taxpayers are now obligated to file a series of forms—GSTR-1 for outward supplies, GSTR-3B for return in summary form, and GSTR-9 and GSTR-9C for annual returns. This complexity continues to prove difficult, particularly for small and medium enterprises. The Input Tax Credit (ITC) system, which forms the backbone of the GST regime, has also faced glitches. Delays in the processing of refunds and discrepancies in reporting invoices have caused working capital issues for businesses, particularly exporters. Additionally, fraudulent activities and troubles in blocked credits have disrupted the effectiveness of the credit system. Cooperative federalism in GST Council The GST Council, which is the first federal body in India made up of Centre and state representatives, was established for achieving consensus-based decision-making. The Council has had 52 meetings since it was formed to address matters varying from rate rationalisations to norms of compliance. The Council, in its early days, showed enormous cooperation amongst the members. But discord started emerging during the pandemic period, especially regarding the payment of compensation cess to states. As states were confronted with large revenue deficits, the Centre was forced to borrow to reimburse them—testament to the weakness of the fiscal compact. The mechanism of compensation cess, which was envisaged to be temporary for five years, was later put in place to April 2026 to take care of borrowings incurred during the pandemic. These events have stretched the limits of cooperative federalism but not broken it. The GST Council remains an efficient, if sometimes acrimonious, decision-making forum. Challenges ahead Albeit impressive strides, GST is still a work in progress. The intricacy of the slab structure, five big rates plus exemptions, still prevents simplification. Compliance rules continue to be cumbersome for micro and small business. Interstate trade barrier reductions have been achieved, while classification disputes and legal uncertainties continue to pervade. The increasing appeals backlog and litigation is indicative of yet another pressing concern—interpretational clarity. Companies are still looking for more predictability and simplicity in knowing their tax burden. Eight years since its historic rollout, GST has transformed the Indian tax system in ways never seen before. It has integrated the market, promoted formalisation, got more firms into the tax net, and delivered relatively stable exchequer growth over this period. Its tech revolution is likely its least noticed achievement. But for all its success, GST remains far from the "Good and Simple Tax" it originally aimed to be. The road ahead calls for political will to simplify slabs, minimise litigation, and enhance business-friendliness of compliance—particularly for India's enormous MSME economy. GST is no failed reform. It is a bold, complicated, and in-progress one. Whether it realises its complete potential will hinge on how the next phase of reform is managed.

Onn July 1, 2025, the Goods and Services Tax (GST) will complete eight years since its rollout.

India’s experiment with 'One Nation, One Tax': Did GST deliver on the promises?

As anticipation builds around the 56th GST Council meeting expected in early July, Finance Minister Nirmala Sitharaman has signalled a significant overhaul of the Goods and Services Tax (GST) structure, including potential rate cuts and simplification of the compliance process. In a recent interview with The Financial Express, Sitharaman confirmed that a more streamlined and easy-to-comply GST regime is in the works and that lowering rates is part of the plan.&nbsp;The finance minister stated that there is active work underway to review the current GST framework, including rate slabs, tax inversions, and the layering of levies. “The time has come for getting some consensus in the GST Council and coming up with a very simplified and easy-to-comply GST. We will be doing it,” she said.&nbsp;According to Sitharaman, the broader expectation is for goods and services tax rates to come down. “Revenue buoyancy will rise if the rates are low enough,” she said, adding that such a move could stimulate consumption and enhance tax compliance. The restructuring could provide relief to consumers by reducing the cost of goods and services while offering clarity and simplicity for businesses.&nbsp;<h2>Balancing reform with revenue</h2>&nbsp;While the proposed reforms are aimed at reducing the compliance burden and improving transparency, concerns remain about how a lower tax regime might impact state revenues, which heavily rely on GST collections. The government is reportedly working to ensure that the reforms are sustainable and equitable, striking a balance between simplicity and revenue needs.&nbsp;The conversation about overhaul comes as India approaches the eighth anniversary of the GST launch on July 1, 2017. The tax reform, seen as a watershed moment, replaced a fragmented and complex indirect tax system with a unified structure designed to minimise cascading and compliance costs. Alongside the GST revamp, the Finance Ministry is also looking at further simplification of income tax laws, land monetisation, and financial sector reforms including new bank licences and amendments to the Insolvency and Bankruptcy Code.

The finance minister stated that there is active work underway to review the current GST framework, including rate slabs, tax inversions, and the layering of levies.

As anticipation builds around the 56th GST Council meeting expected in early July, Finance Minister Nirmala Sitharaman has signalled a significant overhaul of the Goods and Services Tax (GST) structure, including potential rate cuts and simplification of the compliance process. In a recent interview with The Financial Express, Sitharaman confirmed that a more streamlined and easy-to-comply GST regime is in the works and that lowering rates is part of the plan. The finance minister stated that there is active work underway to review the current GST framework, including rate slabs, tax inversions, and the layering of levies. “The time has come for getting some consensus in the GST Council and coming up with a very simplified and easy-to-comply GST. We will be doing it,” she said. According to Sitharaman, the broader expectation is for goods and services tax rates to come down. “Revenue buoyancy will rise if the rates are low enough,” she said, adding that such a move could stimulate consumption and enhance tax compliance. The restructuring could provide relief to consumers by reducing the cost of goods and services while offering clarity and simplicity for businesses. Balancing reform with revenue While the proposed reforms are aimed at reducing the compliance burden and improving transparency, concerns remain about how a lower tax regime might impact state revenues, which heavily rely on GST collections. The government is reportedly working to ensure that the reforms are sustainable and equitable, striking a balance between simplicity and revenue needs. The conversation about overhaul comes as India approaches the eighth anniversary of the GST launch on July 1, 2017. The tax reform, seen as a watershed moment, replaced a fragmented and complex indirect tax system with a unified structure designed to minimise cascading and compliance costs. Alongside the GST revamp, the Finance Ministry is also looking at further simplification of income tax laws, land monetisation, and financial sector reforms including new bank licences and amendments to the Insolvency and Bankruptcy Code.

The finance minister stated that there is active work underway to review the current GST framework, including rate slabs, tax inversions, and the layering of levies.

India set for major GST overhaul; tax rates likely to fall

India’s Goods and Services Tax (GST) collections remained above the ₹2 lakh crore mark (approx. $24.1 billion) for the second consecutive month in May 2025, registering a robust 16.4 per cent year-on-year growth.&nbsp;&nbsp;The latest data, released by the Ministry of Finance, comes just days before the Reserve Bank of India (RBI) convenes for its bi-monthly Monetary Policy Committee (MPC) meeting on 4 June.&nbsp;The total GST revenue stood at ₹2.01 lakh crore ($24.1 billion) in May, compared to ₹1.72 lakh crore ($20.6 billion) in May 2024.&nbsp; &nbsp;This follows a record ₹2.37 lakh crore ($28.4 billion) collection in April 2025. Net revenue after refunds amounted to ₹1.74 lakh crore ($20.8 billion), a sharp 20.4 per cent rise from the ₹1.44 lakh crore ($17.2 billion) collected in May last year.<h2>Import-led growth raises questions on consumption patterns</h2>The growth was driven largely by import-related taxes. GST revenue from imports rose 25.2 per cent to ₹51,266 crore ($6.2 billion), while domestic transactions contributed ₹1.50 lakh crore ($18 billion)—up 13.7 per cent from the previous year.&nbsp;&nbsp;Total refunds issued declined 4 per cent to ₹27,210 crore ($3.26 billion).&nbsp;“The 16 per cent growth in GST collections in the month shows a renewed upward momentum after a few months of growth in the range of 11–12 per cent,” Pratik Jain, Partner at Price Waterhouse &amp; Co LLP, told PTI. “If this growth sustains over the next few months, it might provide a cushion for the government to consider rate rationalisation, on which significant groundwork has already been done,” he added.&nbsp;However, experts warn that the growth pattern is not uniform across India. States like Maharashtra, West Bengal, Karnataka, and Tamil Nadu posted strong collection growth of 17–25 per cent, while states such as Gujarat and Telangana lagged with growth below 6 per cent, according to M S Mani, Partner at Deloitte India, quoted by PTI.&nbsp;“The average growth across the country does not appear to be uniformly reflected across states, possibly due to sectoral or seasonal factors which require deeper, data-based analysis,” Mani said.<h2>Domestic demand lags, import surge continues</h2>Several tax analysts believe the growth is being powered by imports rather than domestic consumption. Vivek Jalan, Partner at Tax Connect Advisory Services LLP, told PTI&nbsp;that while import-related GST rose nearly 73 per cent, domestic revenue growth was modest in comparison. “This, coupled with the fact that export refunds are not growing correspondingly, reflects the fact that import growth far exceeds export growth,” Jalan explained.&nbsp;EY India’s Saurabh Agarwal also told PTI&nbsp;that similar numbers could be seen in June owing to ongoing geopolitical developments impacting global trade flows.<h2>RBI to weigh strong GST data and soft inflation in June MPC meeting</h2>The strong GST collections—an indicator of sustained economic activity—arrive just as the Reserve Bank of India prepares for its rate-setting Monetary Policy Committee (MPC) meeting, scheduled from 4–6 June.&nbsp; Economists widely expect the six-member panel to deliver a 25-basis point rate cut, reducing the repo rate from 6 per cent to 5.75 per cent, in what could be the third consecutive rate cut in 2025. The move is backed by a steep fall in inflation. India’s consumer price index (CPI) dropped to 3.2 per cent in April, the lowest in nearly five years. This aligns well within the RBI’s flexible inflation targeting framework of 4 per cent ± 2 per cent.&nbsp; According to the RBI’s annual report, “The benign inflation outlook and moderate growth warrant monetary policy to be growth supportive, while remaining watchful about rapidly evolving global macroeconomic conditions.” Market participants and lenders are also anticipating a total of 50 basis points in rate cuts for FY26, which would help lower external benchmark lending rates (EBLR) and reduce borrowing costs for home, auto and personal loans.&nbsp; As GST revenues remain strong and inflation eases, the central bank may find ample headroom to support India’s growth trajectory through accommodative monetary policy.&nbsp;

The most recent GST figures, published by the Ministry of Finance, arrive only days ahead of the Reserve Bank of India (RBI) gathering for its bi-monthly Monetary Policy Committee (MPC) session on 4 June.

India’s Goods and Services Tax (GST) collections remained above the ₹2 lakh crore mark (approx. $24.1 billion) for the second consecutive month in May 2025, registering a robust 16.4 per cent year-on-year growth. The latest data, released by the Ministry of Finance, comes just days before the Reserve Bank of India (RBI) convenes for its bi-monthly Monetary Policy Committee (MPC) meeting on 4 June. The total GST revenue stood at ₹2.01 lakh crore ($24.1 billion) in May, compared to ₹1.72 lakh crore ($20.6 billion) in May 2024. This follows a record ₹2.37 lakh crore ($28.4 billion) collection in April 2025. Net revenue after refunds amounted to ₹1.74 lakh crore ($20.8 billion), a sharp 20.4 per cent rise from the ₹1.44 lakh crore ($17.2 billion) collected in May last year. Import-led growth raises questions on consumption patterns The growth was driven largely by import-related taxes. GST revenue from imports rose 25.2 per cent to ₹51,266 crore ($6.2 billion), while domestic transactions contributed ₹1.50 lakh crore ($18 billion)—up 13.7 per cent from the previous year. Total refunds issued declined 4 per cent to ₹27,210 crore ($3.26 billion). “The 16 per cent growth in GST collections in the month shows a renewed upward momentum after a few months of growth in the range of 11–12 per cent,” Pratik Jain, Partner at Price Waterhouse & Co LLP, told PTI. “If this growth sustains over the next few months, it might provide a cushion for the government to consider rate rationalisation, on which significant groundwork has already been done,” he added. However, experts warn that the growth pattern is not uniform across India. States like Maharashtra, West Bengal, Karnataka, and Tamil Nadu posted strong collection growth of 17–25 per cent, while states such as Gujarat and Telangana lagged with growth below 6 per cent, according to M S Mani, Partner at Deloitte India, quoted by PTI. “The average growth across the country does not appear to be uniformly reflected across states, possibly due to sectoral or seasonal factors which require deeper, data-based analysis,” Mani said. Domestic demand lags, import surge continues Several tax analysts believe the growth is being powered by imports rather than domestic consumption. Vivek Jalan, Partner at Tax Connect Advisory Services LLP, told PTI that while import-related GST rose nearly 73 per cent, domestic revenue growth was modest in comparison. “This, coupled with the fact that export refunds are not growing correspondingly, reflects the fact that import growth far exceeds export growth,” Jalan explained. EY India’s Saurabh Agarwal also told PTI that similar numbers could be seen in June owing to ongoing geopolitical developments impacting global trade flows. RBI to weigh strong GST data and soft inflation in June MPC meeting The strong GST collections—an indicator of sustained economic activity—arrive just as the Reserve Bank of India prepares for its rate-setting Monetary Policy Committee (MPC) meeting, scheduled from 4–6 June. Economists widely expect the six-member panel to deliver a 25-basis point rate cut, reducing the repo rate from 6 per cent to 5.75 per cent, in what could be the third consecutive rate cut in 2025. The move is backed by a steep fall in inflation. India’s consumer price index (CPI) dropped to 3.2 per cent in April, the lowest in nearly five years. This aligns well within the RBI’s flexible inflation targeting framework of 4 per cent ± 2 per cent. According to the RBI’s annual report, “The benign inflation outlook and moderate growth warrant monetary policy to be growth supportive, while remaining watchful about rapidly evolving global macroeconomic conditions.” Market participants and lenders are also anticipating a total of 50 basis points in rate cuts for FY26, which would help lower external benchmark lending rates (EBLR) and reduce borrowing costs for home, auto and personal loans. As GST revenues remain strong and inflation eases, the central bank may find ample headroom to support India’s growth trajectory through accommodative monetary policy.

In May 2025, India's Goods and Services Tax (GST) collections exceeded ₹2 lakh crore (around $24.1 billion) for the second month in a row, showing a strong year-on-year growth of 16.4 percent.

India’s GST collections cross $24 billion in May: What it signals before RBI policy review

A man who sells eggs on the streets of Madhya Pradesh was left shocked when he received an income tax notice demanding transaction details for Rs 50 crore. Reports suggest that fraudsters used his documents to steal his identity and run a company in Delhi. ETV Bharat reported that the man, Prince Suman, lives in Pathariya&rsquo;s Ward 14 and knew nothing about a company being run in his name.
He got an Income Tax notice under Section 133 (6) of the Income Tax Act, 1961 on March 20. It said that he had carried out financial transactions worth Rs 49.24 crore during FY 2022-23 and should submit his ITR filings, bank statements, and purchase bills. He was told that he owed the government Rs 6 crore as Goods and Services Tax (GST).&nbsp;
The egg vendor panicked to see such a huge transaction carried out in his name and rushed to lawyers and government offices. An income tax lawyer told him that a company named &lsquo;Prince Enterprise&rsquo; had been registered in Delhi on December 7, 2022, using his PAN card and Aadhaar details. It dealt with leather, wood and iron trading.
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"I only sell eggs on a cart. I have never been to Delhi, let alone start a company there," the man said.&nbsp;
The company also got a GST number and carried out transactions worth crores. The fraudsters shut it down later. Prince is now running from pillar to post to get the issue resolved and clear his name in the matter. He has submitted complaints to the Pathariya police station, the Superintendent of Police in Damoh, Cyber Cell, GST Officer, and Income Tax Officers in Damoh and Narsinghpur.&nbsp;
<h2>Juice vendor gets Rs 7.5 crore GST notice</h2>
In a similar case, a juice vendor in Uttar Pradesh's Aligarh received an I-T notice of over Rs 7.5 crore. Md Rahees was shocked to see the notice and later found out that "bogus" transactions worth crores had been carried out in his name in 2020-21. He was told that he owed the government Rs 7,79,02,457 GST.
He approached the IT authorities who asked him if he had shared his personal details with anyone. Md Rahees told them that he had never given out his details to anyone. A preliminary probe found that Rahees's personal documents used for donating crores of rupees for the 2022 Punjab assembly elections.&nbsp;

The personal details of an egg vendor and a juice vendor were fraudulently used to carry out transactions worth crores without their knowledge. India News Trending

A man who sells eggs on the streets of Madhya Pradesh was left shocked when he received an income tax notice demanding transaction details for Rs 50 crore. Reports suggest that fraudsters used his documents to steal his identity and run a company in Delhi. ETV Bharat reported that the man, Prince Suman, lives in Pathariya’s Ward 14 and knew nothing about a company being run in his name. He got an Income Tax notice under Section 133 (6) of the Income Tax Act, 1961 on March 20. It said that he had carried out financial transactions worth Rs 49.24 crore during FY 2022-23 and should submit his ITR filings, bank statements, and purchase bills. He was told that he owed the government Rs 6 crore as Goods and Services Tax (GST). The egg vendor panicked to see such a huge transaction carried out in his name and rushed to lawyers and government offices. An income tax lawyer told him that a company named ‘Prince Enterprise’ had been registered in Delhi on December 7, 2022, using his PAN card and Aadhaar details. It dealt with leather, wood and iron trading. Also Read: ED raids Noida couple running adult webcam streaming, shooting adult videos for porn sites "I only sell eggs on a cart. I have never been to Delhi, let alone start a company there," the man said. The company also got a GST number and carried out transactions worth crores. The fraudsters shut it down later. Prince is now running from pillar to post to get the issue resolved and clear his name in the matter. He has submitted complaints to the Pathariya police station, the Superintendent of Police in Damoh, Cyber Cell, GST Officer, and Income Tax Officers in Damoh and Narsinghpur. Juice vendor gets Rs 7.5 crore GST notice In a similar case, a juice vendor in Uttar Pradesh's Aligarh received an I-T notice of over Rs 7.5 crore. Md Rahees was shocked to see the notice and later found out that "bogus" transactions worth crores had been carried out in his name in 2020-21. He was told that he owed the government Rs 7,79,02,457 GST. He approached the IT authorities who asked him if he had shared his personal details with anyone. Md Rahees told them that he had never given out his details to anyone. A preliminary probe found that Rahees's personal documents used for donating crores of rupees for the 2022 Punjab assembly elections.

Egg vendor gets Rs 50 crore tax notice due to fraudulent use of PAN, Aadhar

Finance Minister Nirmala Sitharaman clarified in the Parliament on Tuesday that there will be no Goods and Services Tax (GST) on the &lsquo;prasad&rsquo; served at religious places. There is total GST exemption on the food served as such, the FM said. Sitharaman was speaking in the Lok Sabha during the discussion on Finance Bill 2025.&nbsp;
There had been several misgivings about the GST on several religious activities. Earlier, the finance ministry clarified that there is no GST on religious places, including on rent paid for rooms in Sarais (accommodations) run by religious or charitable trusts.&nbsp; The government said that free food supplied in &lsquo;anna kshetras&rsquo; (food areas) run by religious institutions is exempt from GST. Besides, the &lsquo;prasadam&rsquo; distributed by places of worship like temples and gurdwaras would not attract any GST.
Also read | <a href="https://www.wionews.com/india-news/viksit-delhi-budget-2025-26-key-highlights-from-cm-rekha-guptas-maiden-budget-8888113" rel="dofollow">'Viksit Delhi Budget' 2025-26: Key Highlights from CM Rekha Gupta's maiden budget</a> The finance ministry said that no GST is applicable on food supplied free, but some inputs and services required for making &lsquo;prasadam&rsquo; are subject to GST since they have multiple uses and separate tax rates can&rsquo;t be prescribed depending on the purpose under the GST regime.&nbsp; Since GST is a multi-stage tax, it is not possible to administer exemptions and concessions based on end-use.
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<h2>Lok Sabha passes Finance Bill 2025</h2>
The Lok Sabha on Tuesday passed the Finance Bill 2025, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements. With the passage of the Finance Bill 2025, the Lok Sabha completed its part of the budgetary approval process. The Upper House, Rajya Sabha, will now consider the Bill. After the Rajya Sabha approves the Bill, the Budget process for 2025&ndash;26 will be complete.&nbsp;
Also read:&nbsp;<a href="https://www.wionews.com/world/india-researcher-badar-khan-suri-legally-living-in-us-faces-deportation-for-allegedly-spreading-hamas-propaganda-8871820" rel="noopener" target="_blank">India researcher legally living in US faces deportation for allegedly 'spreading Hamas propaganda'</a> FM Nirmala Sitharaman said the government is aiming to do several things as per the aspirations and expectations of people and the goal of making India a developed country by 20247.&nbsp; She also highlighted key changes to enhance ease of doing business and support India&rsquo;s economic growth like the customs duty rationalisation under which the government is removing seven customs tariff rates to address duty inversion and reduce input costs. Imports will now be subject to either a cess or a surcharge, but not both, preventing double taxation.
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 To further encourage domestic manufacturing, the government has exempted customs duties on 35 additional capital goods used in electric vehicle (EV) battery production and 28 capital goods related to mobile manufacturing. Sitharaman also said that the new Income Tax Bill will be taken up for discussion in next monsoon session of Parliament. BJP MP Nishikant Dubey Dubey lauded the economic performance of the government, saying that country&rsquo;s GDP has more than doubled in the last 10 years.

India News: The Lok Sabha on Tuesday passed the Finance Bill 2025, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements.

Finance Minister Nirmala Sitharaman clarified in the Parliament on Tuesday that there will be no Goods and Services Tax (GST) on the ‘prasad’ served at religious places. There is total GST exemption on the food served as such, the FM said. Sitharaman was speaking in the Lok Sabha during the discussion on Finance Bill 2025. There had been several misgivings about the GST on several religious activities. Earlier, the finance ministry clarified that there is no GST on religious places, including on rent paid for rooms in Sarais (accommodations) run by religious or charitable trusts. The government said that free food supplied in ‘anna kshetras’ (food areas) run by religious institutions is exempt from GST. Besides, the ‘prasadam’ distributed by places of worship like temples and gurdwaras would not attract any GST. Also read | 'Viksit Delhi Budget' 2025-26: Key Highlights from CM Rekha Gupta's maiden budget The finance ministry said that no GST is applicable on food supplied free, but some inputs and services required for making ‘prasadam’ are subject to GST since they have multiple uses and separate tax rates can’t be prescribed depending on the purpose under the GST regime. Since GST is a multi-stage tax, it is not possible to administer exemptions and concessions based on end-use. Also read | 'No Legacy': Justin Trudeau jeered and booed as he leaves parliament for last time as Canada PM | Watch video In its reply to a query, the finance ministry had advised Punjab Rajya Sabha MP Vikramjit Singh Sahney to inform the Sikh Gurudwara Prabandhan Committee (SGPC) that it can claim the GST refund on the room rents of Sarais. Lok Sabha passes Finance Bill 2025 The Lok Sabha on Tuesday passed the Finance Bill 2025, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements. With the passage of the Finance Bill 2025, the Lok Sabha completed its part of the budgetary approval process. The Upper House, Rajya Sabha, will now consider the Bill. After the Rajya Sabha approves the Bill, the Budget process for 2025–26 will be complete. Also read: India researcher legally living in US faces deportation for allegedly 'spreading Hamas propaganda' FM Nirmala Sitharaman said the government is aiming to do several things as per the aspirations and expectations of people and the goal of making India a developed country by 20247. She also highlighted key changes to enhance ease of doing business and support India’s economic growth like the customs duty rationalisation under which the government is removing seven customs tariff rates to address duty inversion and reduce input costs. Imports will now be subject to either a cess or a surcharge, but not both, preventing double taxation. Also Read | Man, 89, acquitted of quadruple murders after 56 years, gets $1.5mn damages for agony To further encourage domestic manufacturing, the government has exempted customs duties on 35 additional capital goods used in electric vehicle (EV) battery production and 28 capital goods related to mobile manufacturing. Sitharaman also said that the new Income Tax Bill will be taken up for discussion in next monsoon session of Parliament. BJP MP Nishikant Dubey Dubey lauded the economic performance of the government, saying that country’s GDP has more than doubled in the last 10 years.

‘Prasad’ served at religious places exempt from GST, says FM Nirmala Sitharaman

GST intelligence officers have blocked 357 websites of illegal offshore online gaming firms and attached about 2,400 bank accounts, the Finance Ministry said on Saturday.
The ministry also cautioned the public against engaging with offshore gaming platforms, even though many Bollywood celebrities and cricketers, besides social media influencers, are found to be endorsing these platforms.
About 700 offshore e-gaming companies are under the Directorate General of Goods and Services Tax Intelligence (DGGI) scanner, as these entities are evading GST by failing to register, concealing taxable pay-ins, and bypassing tax obligations.
Investigations also revealed that these offshore companies operated through 'mule' bank accounts to process transactions, the ministry said, adding the DGGI blocked 166 'mule' accounts.
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"So far, 357 websites/URLs of illegal/non-compliant offshore online money gaming entities have been blocked by the DGGI, in coordination with the Ministry of Electronics and Information Technology (MeitY)," the ministry said in a statement.
In two other separate cases, DGGI collectively blocked nearly 2,400 bank accounts and put a freeze on nearly Rs 126 crore.
In another operation against a few Indian nationals who were running online money gaming platforms from outside India, it revealed that these individuals were facilitating online money gaming to Indian customers through various such online platforms, including Satguru Online Money Gaming Platform, Mahakaal Online Money Gaming Platform and Abhi247 Online Money Gaming Platform and are using mule bank accounts to collect money from Indian customers.
DGGI has so far blocked 166 mule accounts linked to these platforms. Three such persons have been arrested till now, and an investigation against more such individuals is under progress.
Under the GST law, 'Online Money Gaming', being actionable claim, is classified as a supply of 'Goods' and is subject to a 28 per cent tax.
Entities operating in this sector are required to register under the GST.
With the upcoming IPL season, enforcement actions by tax officers will be more stringent to curb illicit gaming operations, the ministry said, urging people to engage only with regulated e-gaming platforms.
The ministry said non-compliance by foreign entities distorts fair competition, harms local businesses, and skews the market.
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These unscrupulous foreign entities circumvent restrictions by creating new web addresses.
"Investigations also revealed that these companies operated through 'mule' bank accounts to process transactions. Funds collected through mule accounts leave the potential to be funnelled into illicit activities, which may also be dangerous for the national security point of view," the ministry added.
The ministry further said, "It has been observed that many Bollywood celebrities and cricketers, along with YouTube, WhatsApp, and Instagram influencers, are found endorsing these platforms, and therefore, the public is advised to remain cautious and not engage with offshore online money gaming platforms as it may jeopardise their personal finances and indirectly support activities that undermine financial integrity and national security".
Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for&nbsp;WION&nbsp;audience.

India news: The ministry also cautioned the public against engaging with offshore gaming platforms, even though many Bollywood celebrities and cricketers, besides social media influencers, are found to be endorsing these platforms.

GST intelligence officers have blocked 357 websites of illegal offshore online gaming firms and attached about 2,400 bank accounts, the Finance Ministry said on Saturday. The ministry also cautioned the public against engaging with offshore gaming platforms, even though many Bollywood celebrities and cricketers, besides social media influencers, are found to be endorsing these platforms. About 700 offshore e-gaming companies are under the Directorate General of Goods and Services Tax Intelligence (DGGI) scanner, as these entities are evading GST by failing to register, concealing taxable pay-ins, and bypassing tax obligations. Investigations also revealed that these offshore companies operated through 'mule' bank accounts to process transactions, the ministry said, adding the DGGI blocked 166 'mule' accounts. Also read: 'Slimy billionaire': Elon Musk blasted for ‘buying votes’ in Wisconsin court election as Trump backs Brad Schimel "So far, 357 websites/URLs of illegal/non-compliant offshore online money gaming entities have been blocked by the DGGI, in coordination with the Ministry of Electronics and Information Technology (MeitY)," the ministry said in a statement. In two other separate cases, DGGI collectively blocked nearly 2,400 bank accounts and put a freeze on nearly Rs 126 crore. In another operation against a few Indian nationals who were running online money gaming platforms from outside India, it revealed that these individuals were facilitating online money gaming to Indian customers through various such online platforms, including Satguru Online Money Gaming Platform, Mahakaal Online Money Gaming Platform and Abhi247 Online Money Gaming Platform and are using mule bank accounts to collect money from Indian customers. DGGI has so far blocked 166 mule accounts linked to these platforms. Three such persons have been arrested till now, and an investigation against more such individuals is under progress. Under the GST law, 'Online Money Gaming', being actionable claim, is classified as a supply of 'Goods' and is subject to a 28 per cent tax. Entities operating in this sector are required to register under the GST. With the upcoming IPL season, enforcement actions by tax officers will be more stringent to curb illicit gaming operations, the ministry said, urging people to engage only with regulated e-gaming platforms. The ministry said non-compliance by foreign entities distorts fair competition, harms local businesses, and skews the market. Also read: Pope Francis to be discharged on Sunday after five weeks in hospital These unscrupulous foreign entities circumvent restrictions by creating new web addresses. "Investigations also revealed that these companies operated through 'mule' bank accounts to process transactions. Funds collected through mule accounts leave the potential to be funnelled into illicit activities, which may also be dangerous for the national security point of view," the ministry added. The ministry further said, "It has been observed that many Bollywood celebrities and cricketers, along with YouTube, WhatsApp, and Instagram influencers, are found endorsing these platforms, and therefore, the public is advised to remain cautious and not engage with offshore online money gaming platforms as it may jeopardise their personal finances and indirectly support activities that undermine financial integrity and national security". Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

GST crackdown: 357 illegal gaming websites blocked, 2,400 bank accounts frozen

The GST Council recently made an announcement on the tax structure of popcorn, triggering a flood of online jokes and memes. Watch this report for more details!



India: Netizens React To Popcorn GST With Humour And Criticism

Gst, News on Gst, stories on Gst, articles on Gst, Gst stories at Wion, Gst news, Gst latest news

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