GST Regime

As GST completes nine years, input tax credit remains a major challenge for businesses as supplier defaults, invoice mismatches and compliance rules delay credit and lock up working capital

The finance ministry on Tuesday said advanced technologies like AI and data analytics are being used in GST registration and scrutiny to identify possible tax evasions, while easing regulatory requirements for compliant taxpayers. The number of taxpayers registered under Goods and Services Tax (GST) has increased from 66.5 lakh in 2017 to 1.65 crore as of May 2026, reflecting greater formalisation of the economy, according to the ministry. Also, gross GST collection, which stood at around Rs 7.4 lakh crore in 2017-18, has increased steadily over the years. In the last five years, collections rose from Rs 13.76 lakh crore in 2021-22 to Rs 22.27 lakh crore in 2025-26. In April-May this fiscal, GST collections have reached Rs 4.37 lakh crore. Introduced on July 1, 2017, GST replaced a complex system of 17 central and state taxes and 13 cesses with a unified indirect tax framework. The reform, rolled out after years of negotiations between the Centre and states, was aimed at creating a

Festival offers are already running with benefits between ₹1.5 lakh and ₹2 lakh on some models

GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy

Request for guidelines for smooth transition

SEZ service exports face DTA payment disputes, GST relief linked to strict compliance, and CBIC eases customs with a single all-India electronic bond system

India's GST overhaul is expected to drive festive e-commerce sales higher by 15-20% in electronics and other categories, as lower tax rates put more money in consumers' hands

Describing the proposed GST tax reforms as Next Gen GST', senior government officials on Saturday said that the two-slab tax regime will eventually pave the way for a single sales/services tax rate, hopefully by 2047. They said the proposed new GST regime, which slashes tax rates and assigns just two slabs of 5 per cent and 18 per cent, will boost the economy and also serve to mitigate tariff threats. The proposed two-slab regime, if approved by the GST Council, will replace the current four slabs in the goods and services tax (GST) regime, doing away with the 12 per cent and 28 per cent slabs. Calling it the "next Gen GST', one government official said "it is a game changer reform. In the pantheon of economic reforms seen in India, it's right up there." The officials spoke on condition of anonymity. They said the new structure would mean that almost all of the common use items will move to the lower tax bracket, leading to price cuts, which in turn would boost consumption. "Lower

PM Modi announced new GST rates as a Diwali gift, cutting prices on many goods. ACs, snacks, mobiles, soaps and cement will get cheaper. Check full list of items here

The proposal was announced by the prime minister Narendra Modi from the ramparts of the Red Fort in his independence day speech as a Diwali gift

Makes swadeshi push in face of US tariffs and announces next-gen reforms, deepwater energy hunt, defence shield project

Over eight years later, GST has fallen short of expectations, prompting the government to appoint Home Minister Amit Shah to lead negotiations for its reform

Finance Minister Nirmala Sitharaman will inaugurate on Monday a conference of enforcement chiefs of all state and central GST officers to tackle tax evasion. In the conference, Goods and Services Tax (GST) formations will deliberate on combating GST evasion, including examining current challenges and delving into successful methods adopted by central and state tax enforcement officers. It would also strategise on effective methods to combat fake invoicing, sharing best practices, fostering synergy, and leveraging technology and data. The conference will also balance ease of doing business and discuss striking a crucial equilibrium between facilitating a smooth business environment and implementing effective and deterrent enforcement measures. Union Minister for Finance and Corporate Affairs Nirmala Sitharaman will inaugurate the one-day conference and also deliver the keynote address on March 4, a finance ministry statement said. Embracing the spirit of cooperative federalism as .

LIC gears up to appeal against a hefty GST demand exceeding Rs 290 cr, encompassing penalties and interest

The consulting and services sector has urged the Centre to re-look at the Goods and Services Tax (GST) collection regime.

The benefits of GST will positively ensure it to be 'Good and Simple Tax' for citizens of India, says Prime Minister Narendra Modi on the eve of the GST launch

The continuation of a business-as-usual approach can undermine the GST's ability to either raise revenues for the government or improve the ease of doing business

Kerala on Thursday said it will vehemently oppose any move to bring petrol and diesel under the GST regime as that will further reduce revenue generation for the state

Humility, not hubris, should be the middle name of any Indian politician who wants to achieve his goals

Recently, the Uttar Pradesh AAR had held that CSR spend by companies is eligible for input tax credit