Finance Minister Nirmala Sitharaman on Wednesday (September 3, 2025) unveiled tax cuts for hundreds of consumer items – from soap to cars – in the biggest overhaul of the Goods and Services Tax (GST), set to take effect from September 22. Briefing reporters after a marathon daylong GST Council meeting, Ms. Sitharaman said all decisions…
All individual life insurance policies, whether term life, ULIP or endowment policies and subsequent reinsurance are exempt from GST, Finance Minister Nirmala Sitharaman on September 3, 2025. (Representational image) | Photo Credit: Getty Images/iStock Photo Insurance stocks were in heavy demand on Thursday (September 4, 2025), with Star Health surging over 9%, as life insurance…
Benchmark equity indices Sensex and Nifty surged in early trade. File Benchmark equity indices Sensex and Nifty surged in early trade on Thursday (September 4, 2025) as investors became cheerful after the GST Council approved a complete overhaul of the tangled Goods and Services Tax regime. The 30-share BSE Sensex jumped 888.96 points to 81,456.67…
GST reforms to provide relief to families, ease compliance for businesses: India Inc India Inc on Thursday hailed the GST Council’s “forward-looking decisions” — moving to two rates of 5 per cent and 18 per cent from 22 September, simplifying refunds and MSME procedures, and exempting individual life and health insurance from the indirect tax…
The GST Council approved limiting slabs to 5% and 18% effective from September 22, the first day of Navaratri. Image for representation only. | Photo Credit: The Hindu Small cars and entry-level bikes are set to get cheaper as the GST Council on Wednesday (September 3, 2025) approved a complete overhaul of the tangled Goods…
The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. File. | Photo Credit: PTI The free trade agreement between India and four-European nation bloc EFTA, which will come into force from October 1, will have legally binding provisions on trade and sustainable development, Switzerland said on Wednesday (September 3,…
The Goods and Services Tax (GST) Council, during its 56th meeting, decided to revamp the tax structure into a primarily two-rate system, as proposed by the Central government, Union Finance Minister Nirmala Sitharaman announced on Wednesday. She added that the decisions would come into effect from September 22 for most items. Only tobacco and tobacco-related…
The Government has set up a committee to examine the tax and export clearance issues being faced by manufacturing units and suggest measures to further streamline the system amid high tariffs imposed by the U.S., an official has said. The Committee includes representatives from the Finance Ministry, Department for Promotion of Industry and Internal Trade…
Highlighting the devastating impact of the Pahalgam terror attack on the economy of Jammu and Kashmir, Chief Minister Omar Abdullah on Wednesday (September 3, 2025) sought the Centre’s support to deal with the situation. The Union Territory (UT) was facing a severe fiscal crisis as its public revenues had “collapsed” in the aftermath of…
Union Finance Minister Nirmala Sitharaman and Union Minister of State for Finance Pankaj Chaudhary, during the 56th meeting of the GST Council, in New Delhi on September 3, 2025. Several CM’s of states attend the meeting. | Photo Credit: ANI The Goods and Services Tax (GST) Council began its two-day meeting on Wednesday (September 3,…
