The law now permits deduction of post-supply discounts even if decided later. This eases commercial flexibility and reduces ...

From February 1, 2026, smokers and pan masala consumers across India are facing a sharp increase in prices following a sweeping revamp of the government’s taxation policy on so-called “sin goods.” The ...

Currently, the brokerage paid by foreign funds is considered ‘export services’ under GST rules. “Clause (b) of sub-section (8 ...

Gross GST collections rose 6.2% to ₹1.93 lakh crore in January, driven by higher import revenues and reduced refunds.

Explains the shift from transaction value to MRP-based valuation under Rule 31D. Highlights how GST will now be calculated on printed retail ...

Effective September 22, 2025, the Modi government's GST 2.0 simplifies taxation with two slabs (5% and 18%), benefiting households, businesses, and farmers. Essentials become cheaper, life insurance ...

Refunds cooled, slipping 3.1 percent to Rs 22,665 crore. Domestic refunds fell 7.1 percent, while export refunds inched up ...

India's GST system saw a significant update on September 22, 2025, with the launch of GST 2.0. The GST Council approved these changes during its 56th meeting, aiming to simplify tax rates and reduce ...

The Survey’s preface highlights that the government carried out “the most radical overhaul of the Goods and Services Tax since its inception in 2017” during 2025, placing GST reforms alongside major p ...