NITI Aayog CEO B.V.R. Subrahmanyam on Friday released the first working paper on tax policy, stressing that a stable, certain, and predictable tax system is critical for boosting investment, creating jobs, and driving India’s economic growth. Speaking at the release, Subrahmanyam said that uncertainty in tax laws discourages businesses and investors. “Uncertainty is not good…
Shopkeepers, vehicle dealers, and every Indian household responded overwhelmingly to the GST 2.0 amendments, which went into effect on Monday, September 22. The new tax regime, which coincided perfectly with the first day of Navratri, provided the general public with instant relief on everyday necessities, simplified slabs, and reduced costs. GST 2.0 was dubbed “a…
On the eve of the implementation of the GST 2.0 reforms, Prime Minister Narendra Modi said, in an address to the nation, that the next-generation indirect tax cuts will boost investments while enhancing savings and happiness. *Navratri begins tomorrow. From the first day of Navratri, the country will take a step towards Atmanirbhar Bharat (self-reliant India),”…
India’s GST reforms could trim headline inflation by as much as 75 basis points and unlock up to Rs 1 lakh crore in consumption spending, a report has said. “The overall impact on CPI is expected to be around 55-75bps. Thus we revise downward our current estimate of headline CPI to 3.1 per cent from…
Finance Minister Nirmala Sitharaman said on Friday that the GST rate cut would spur growth in the economy which would offset the drag due to the adverse impact of the US tariff hike on Indian exports. She also said that India would continue to buy Russian oil because of economic considerations as crude was the…
GST Council Meeting Date, GST Council Meet Agenda: As the country awaits clarity on the Prime Minister’s promised “substantial” GST rate cuts before Diwali this year, the GST Council — headed by the finance minister – is set to meet for the 56th time this week. The upcomig GST Council meeting comes at a time…