The Government’s plan to simplify the Goods and Services Tax (GST) structure by replacing the existing four-slab GST system with a simpler two-slab GST system is set to bring considerable relief to consumers. Lower tax rates are expected to make a variety of goods more affordable, according to a new report. Bank of Baroda (BoB)…
Indian consumers are set to receive a significant boost as the government moves towards simplifying the Goods and Services Tax (GST) structure by reducing the number of tax slabs and lowering rates on several key items. The proposed overhaul aims to rationalise rates by migrating from the current four-tier structure to a simplified two-tier system….
Fintech major PhonePe has announced the launch of its latest home insurance product line, designed to offer homeowners a simple and affordable solution to protect their homes. With premiums starting as low as Rs 181 (including GST) for coverage ranging from Rs 10 lakh going up to Rs 12.5 crore, buyers can insure both structure…
India’s Goods and Services Tax (GST) collections rose to Rs 1.96 lakh crore in July, up 7.5 per cent from the same month previous year, according to government data released on Friday. The increase was driven by higher revenue from both domestic transactions and imports, reflecting steady economic activity, though the growth pace was slower…
Finance Minister Nirmala Sitharaman clarified in Parliament on Monday that apartment associations are required to register under GST if their aggregate turnover exceeds Rs 20 lakh (Rs 10 lakh in special category states) in a financial year, and the associations are required to pay GST only where the maintenance charged is more than Rs 7,500…
With 100 per cent FDI permitted under the automatic route in shipping and shipbuilding, and fiscal incentives offered by the International Financial Services Centre (IFSC) at GIFT City, India presents a compelling case for global maritime investors, a top government official has said. Key benefits include a 10-year tax holiday, zero GST on ship imports,…