The recent decision to reduce GST rates on a range of dairy products to 5 per cent is expected to have significant benefits for both consumers and farmers, according to K. Rathnam, CEO of Milky Mist Dairy Food Ltd. The Tamil Nadu-based dairy company executive said the move would make nutritious and value-added products such...
New Delhi: The Goods and Services Tax (GST) Council, in its 56th meeting, unveiled a revamped tax structure introducing simplified slabs of 5 percent and 18 percent, along with a 40 percent category for luxury and sin goods. The changes, effective from September 22, aim to boost consumption ahead of the festive season. However, for...
Prime Minister Narendra Modi, during his Independence Day address, announced a major revamp of the Goods and Services Tax (GST) system, promising to roll out next-generation GST reforms with significantly lower tax rates this Diwali. Calling it a “great festive gift” for the nation, Modi said the overhaul would simplify the tax structure and provide...