Prime Minister Narendra Modi has proposed India's biggest tax reform in eight years to lower consumption levies on everyday ...

India's federal government has not quantified the loss to the exchequer due to a lowering of the goods and services tax rates but a state ministers' panel has endorsed the new rate structure, state ...

NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi said on Friday the goods and services tax (GST) would be reformed ...

India expects consumption tax cuts announced by Prime Minister Narendra Modi will give a boost to the economy without hurting ...

GST, or Goods and Services Tax, is a tax that customers have to bear when they buy any goods or services, such as food, clothes, electronics, items of daily needs, transportation, travel, etc.

Splitting the Goods and Services Tax in two, and taxing goods at a higher rate, would help to reflect the extra environmental damage done by products that are bought and later thrown in the rubbish.

As part of the upcoming GST overhaul, the government plans to consolidate existing tax slabs into two primary rates, 5% and ...

Act, 2025, introduces changes, including a new "track and trace" mechanism for certain goods, penalties for non-compliance, and amendments to input tax credit and appeal ...

E-sports in India may move to lower GST slab, boosting industry growth and distinguishing it from real-money gaming.

For example, in Louisiana, state sales taxes are typically assessed at 4.65% on goods and services; however, some items such as food, prescriptions, and utilities aren’t taxable.

The state currently exempts about $27 billion in goods and services, including groceries and legal services. Expanding the sales tax base is politically challenging due to strong opposition from ...

Impact of the rate rationalisation on the insurance industry depends on whether the rate cut is implemented with or without ...