Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday that a reduction in goods and services tax (GST) can be expected. She stated that the GST Council is currently working on streamlining the rate slabs for Goods and Services Tax. Additionally, the finance minister highlighted that there has been a significant decrease in GST … Read more
GST rates: The Goods and Services Tax on health and life insurance premiums has been making headlines for quite some time. According to a report by CNBC-Awaaz on August 8, sources familiar with the matter have suggested that a reduction in the GST rate on the premium paid for health and life insurance might be … Read more
Union Budget 2024: Indian insurance firms have been expecting various tax exemptions from the Central government in the upcoming Union Budget to improve the appeal and accessibility of insurance products, thus encouraging wider adoption across the country. Insurers specialising in life coverage are advocating for tax relief on annuities and a reduction in the goods and … Read more
MK Dhanuka, MD, Dhanuka Agritech, says that in order to make the pesticide available at reasonable prices for the farmers, the government should definitely think of reducing the GST on agrochemicals from 18% to either 5% or at least up to 12% immediately. The industry tried very hard this time for GST reduction but it … Read more