Gst

GST Council suggests tax exemption on storage of seeds meant for sowing

The GST Council has proposed exempting storage and warehousing services for seeds meant for sowing, along with coffee-curing services provided by coffee curers to cultivators

GST Council meet: Export definition tweak to ease IT firms' concerns

The GST Council's changes to export definitions and refund rules are expected to benefit IT firms, consulting companies and GCCs by reducing tax disputes and working capital costs

PM Modi welcomes fresh GST reforms to ease compliance, speed up refunds

Prime Minister Narendra Modi on Thursday welcomed the new round of GST reforms approved by the GST Council and said its focus was to take faster decisions, lower compliance costs and automated refunds. The prime minister also said that the GST Council's recommendations on removal of arrest provisions, greater decriminalisation and simpler procedures will have a very positive impact. The GST Council on Thursday approved removing the arrest power of tax officials and raising the threshold for prosecution fivefold to Rs 5 crore, while introducing faster and largely automated refunds for taxpayers. "I welcome the new round of GST reforms approved by the GST Council," Modi said in a post on X. "The focus is clear: Faster decisions. Lower compliance costs. Automated refunds. Trust-based administration," he said. Modi said these are in line with the government's constant efforts to make GST more efficient, transparent and citizen-friendly. Announcing the decisions taken at the 57th meet

GST is always useful for a state like West Bengal, says Swapan Dasgupta

West Bengal Finance Minister Swapan Dasgupta calls the 57th GST Council meeting "very, very positive", highlighting ease of doing business and improved compliance.

GST Council widens input tax credit scope, eases refund rules for firms

Businesses will be able to claim credit on employee insurance, telecom towers, pipelines and certain free samples, while refunds will be widened to input services and machinery

Best of Opinion: More rate hikes imminent as RBI revises policy cycle

From the RBI's shift to calibrated tightening and health-insurance copayments to India's tax reform journey, aviation security, today's opinions examine policy trade-offs and institutional change

Little-known stops on the road to GST

Indirect-tax reform is still a work in progress, but from no tax on services to GST, India has come a long way since 1976

Best of Opinion: Will GST Council meet give process reforms a push?

From India-US trade negotiations and Maharashtra's drought to GST simplification and public-capital governance, today's pieces examine policy trade-offs and institutional capacity

Proposed GST changes aim to make India's services exports more competitive

Proposed changes seek to widen the definition of services exports, ease rules around overseas branches and allow faster GST refunds through a risk-based mechanism

Giving a push to process reforms

Tomorrow's GST Council meeting may be less exciting, but no less important than the last one

GST arrests may need court nod: What it could mean for taxpayers

A proposed GST rule could shift arrest powers from tax officers to courts. Here's how GST arrests work now and what could possibly change

GST input tax credit: What businesses can claim and what stays blocked

From raw materials and rent to motor vehicles and construction, businesses can claim ITC on eligible expenses, but GST rules block credit for several categories

Reforms on the cards: GST Council likely to shun mid-year rate changes

Officials expect the rate structure to be reviewed only once a year henceforth, and any changes will take effect from April 1, not in the middle of the financial year

GST Council may consider ITC rationalisation for real estate, construction

Proposals include ITC on pipelines and telecom towers, contracted prices between government-owned firms, and wider credit for hospitality, tourism and wellness services

GST Council may give export status to clinical trials for overseas sponsors

GST Council may ease tax treatment for highway concessions, e-commerce deliveries and services between foreign shipping lines and their Indian offices

GST reforms agenda: Businesses likely to get wider motor vehicle ITC

Insurance, repairs and servicing may qualify; EVs could get matching tax treatment

GST Council may set different timelines for services, capital goods refunds

The refund for capital goods is likely to be implemented from April 1, 2027. Refunds for input services are likely to take effect this year itself, once council approves

GST Council likely to ease audits for firms with multi-state operations

The GST Council is likely to consider coordinated audits for businesses with multiple state registrations to reduce duplication and ease compliance

Next-Gen GST and India's next phase of growth

Next-Gen GST aims to simplify compliance, support businesses and strengthen revenues as India seeks to build a more resilient economy and achieve Viksit Bharat

Net GST revenue rises 18.1% to ₹1.77 trn in September, fastest in 6 months

Gross GST collections rose 14.7 per cent to Rs 2.04 trillion, while net revenue growth accelerated to around 14 per cent in the July-September quarter