The Goods and Services Tax (GST) in India is an indirect tax that has replaced many previous indirect taxes such as excise duty, VAT, and service tax. GST is levied on the supply of goods and services ...

At its 56th meeting on September 3, 2025, the GST Council announced a simplified tax structure comprising two main slabs, 5% and 18%, alongside a special 40% rate applicable only to designated “sin ...

What is the GST rate on food preparations not elsewhere specified in any of the schedules? Food preparations not elsewhere specified will attract a GST rate of 5%. What is the reason for the 40% rate ...

The GST rates are coming down on Monday, and several things will become cheaper for the public. This comes after the GST Council slashed the tax rates, keeping just two broad slabs of 5 per cent and ...

Dipti Deshpande says GST rate cuts not a large kicker of growth but will help offset some export slowdown, need incomes to grow for sustainable growth in private final consumption expenditure ...

The GST Council has approved a significant tax hike on sin and luxury goods, introducing a new 40% slab for items like tobacco, aerated drinks, and premium vehicles. This restructuring aims to ...

Rationalisation of GST slabs - they were brought down from four to two late last night, and several goods and services were also exempted - will lead to increased demand that will, in turn, push for ...