Union Finance Minister Nirmala Sitharaman and Israel’s Finance Minister Bezalel Smotrich signed a landmark Bilateral Investment Treaty (BIT) in New Delhi on Monday, marking a significant step in promoting investments between India and Israel. According to the finance ministry, this agreement makes Israel the first OECD member to adopt India’s new investment treaty model. The...
Amid rising tensions in India–US relations, United States Secretary of Commerce Howard Lutnick said during an interaction with Bloomberg TV on Friday that India would soon seek reconciliation with Washington. Lutnick predicted that within the next one or two months, India would apologise to US President Donald Trump and come to the negotiating table for...
Union Finance Minister Nirmala Sitharaman on Friday said that the recent GST rate cut will help boost domestic growth and counter the adverse impact of the US’s 50% tariff hike on Indian exports. Speaking in an interview, she stressed that India will continue to buy Russian oil based on economic considerations, as crude oil remains...
New Delhi: Prime Minister Narendra Modi on Monday lauded the recent GST reforms announced by Union Finance Minister Nirmala Sitharaman. Speaking to National Awardee teachers at his official residence on 7, Lok Kalyan Marg, PM Modi highlighted that the Goods and Services Tax (GST) has been made simpler, with tax slabs reduced to just 5%...
New Delhi: The GST Council has announced major changes to India’s Goods and Services Tax system, reducing the number of tax slabs to just two — 5 percent and 18 percent — effectively removing the earlier 12 percent and 28 percent slabs. While this move is expected to make many essential goods more affordable for...
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...
The 56th meeting of the GST (Goods and Services Tax) Council begins today, September 3, at Vigyan Bhawan in New Delhi and will continue till September 4. This crucial meeting, chaired by Finance Minister Nirmala Sitharaman, is expected to bring major reforms to India’s indirect tax structure. A total of 33 members, including Finance Ministers...
A significant reform in India’s Goods and Services Tax (GST) structure is on the horizon. The Group of Ministers (GoM) on GST, chaired by Bihar Deputy Chief Minister Samrat Choudhary, has agreed to the Centre’s proposal to streamline the existing tax system by eliminating the 12% and 28% slabs. This reform is aimed at making...
Finance Minister Nirmala Sitharaman will present the Centre’s proposal on GST rate rationalisation before the Group of Ministers (GoM) during a two-day meeting starting August 20 at Vigyan Bhawan, New Delhi. The meeting, chaired by Bihar Deputy Chief Minister Samrat Choudhary, will take place on August 20 and 21, beginning at 12 noon, according to...
On Monday, Union Finance Minister Nirmala Sitharaman unveiled the updated New Income Tax Bill, 2025, which aims to replace the current Income Tax Act of 1961. This revised Bill was introduced after incorporating nearly all recommendations from the Select Committee. The Finance Minister presented the amended Bill following the suggestions made by the Select Committee,...