Tax Reform

Nathealth calls for GST input slab for healthcare to be capped at 5%

Nathealth urges the government to cap GST input slabs for healthcare at 5% and allow input credits, citing rising embedded taxes that increase costs for providers and patients

GST a landmark reform that reshaped India's economic landscape: PM Modi

On the eighth anniversary of the Goods and Services Tax (GST) roll out, Prime Minister Narendra Modi on Tuesday said the indirect tax regime stands out as a landmark reform that has reshaped India's economic landscape. He said on X, "By reducing the compliance burden, it has greatly improved the ease of doing business, particularly for small and medium enterprises. GST has also served as a powerful engine for economic growth, while fostering true cooperative federalism by making states equal partners in this journey to integrate India's market." The GST, which was implemented from July 1, 2017, has unified 17 taxes and 13 cesses, creating a seamless national market by simplifying compliance and digitising tax systems. It has also expanded the taxpayer base and strengthened cooperative federalism, the government has said. The gross GST collections in the first year of operation (nine months) were Rs 7.40 lakh crore. Over the years, it has witnessed exponential growth, it said. In ..

Oman to become 1st Gulf state to levy income tax, aims to cut oil reliance

Oman will introduce a 5% income tax on top earners in 2028, aligning with Vision 2040 to diversify income, strengthen public finances, and reduce reliance on oil revenue

Old vs new tax regime: Consider income and deductions before you pick

If you declared one regime to your employer for TDS but later find the other more beneficial, you can still switch when filing your income-tax return

Very close to decision on reducing GST rates & slabs: Nirmala Sitharaman

Speaking on the ongoing efforts to simplify the GST structure, Nirmala Sitharaman said, 'We are very close to closing in on a final call on the reduction in GST rates and slabs'

RBI to inject $16 billion next week to cover tax outflows, liquidity

The RBI has doubled the quantum of government securities it aims to purchase Rs to 400 billion rupees ($4.61 billion) on a review of current and evolving liquidity conditions

Almost all of govt borrowing going for asset creation: FM Sitharaman

Sitharaman spoke on issues ranging from the theme of the Budget to income tax relief and challenging geopolitical environment

Budget 2025: Govt shows resolve to take bold steps for transforming economy

Among the key pillars of this Budget, as highlighted by Finance Minister Nirmala Sitharaman, is a sweeping regulatory reform agenda aimed at reducing red tape and fostering a pro-business environment

Budget 2025 FAQs: Key tax, insurance and investment changes explained

Budget 2025 brings key tax, insurance, and investment changes. From ULIP taxation to NPS benefits and Kisan Credit Card updates, here's a breakdown of FAQs to help you understand the new provisions

Budget 2025: Govt's third shot at tax reform shouldn't miss the target

Nearly 47 million, or 63 per cent of those who did file returns last year, paid nothing

Why startups are flipping back to India in spite of the hefty tax bill

The thing is, if a company wants to move from another country to India as a domicile, it is treated as a capital gains event for existing investors

Personal guarantee to attract 18% GST in exceptional considerations

Centre to issue circular soon outlining scenarios, which could trigger tax liability

Top headlines: 5 years of GST and what lies ahead for the tax reform

In the last five years, since its launch in July 2017, the GST journey has been difficult for both economic and political reasons. Read more on five years of GST in our top headlines

G20 finance ministers take up plan to deter cross-border tax dodging

The deal aims to discourage the use of often-complex accounting schemes to move profits to where the least tax is due.

Tax reform tops agenda as G20 finance ministers meet in Venice

If all goes to plan, the new tax rules should be translated into binding legislation worldwide before the end of 2023.

Happy that govt announced long-awaited taxation reform, says VP Naidu

Vice President M Venkaiah Naidu on Thursday said the "long-awaited" taxation reform announced by the government would lead to greater compliance of tax laws

Budget 2020: Appliances, consumer electronics sector seeks tax relief, sops

Finance Minister Nirmala Sitharaman is scheduled to present the Budget for financial year 2020-21 on February 1.

With unprecedented discounts, will Sabka Vishwas scheme earn sabka trust?

By November 3, only 17,000 applications with tax payable amounting to Rs 1,100 crore have been received by the government, under the Sabka Vishwas Legacy Dispute Resolution Scheme

Slow tax reforms to blame for fiscal consolidation drive: Bibek Debroy

He said a simplified tax regime with reduced compliance cost requires standardisation, harmonisation and elimination of tax exemptions