New Delhi : In a major move aimed at simplifying India’s Goods and Services Tax (GST) system, the Centre has proposed cutting down the number of tax slabs, retaining only the 5% and 18% rates. According to official sources, almost all goods in the 12% and 28% categories will be shifted to lower brackets, marking […]
The financial year 2025-26 brings notable updates to India’s TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) regulations. Understanding these changes is essential for both individuals and businesses to ensure compliance and streamline financial planning. This article provides a detailed TDS and TCS chart for FY 2025-26, highlighting the latest rates and
New Delhi: When the Goods and Services Tax (GST) came into effect on 1 July 2017, it replaced a maze of central and state indirect taxes with a single, streamlined system. Under the GST framework, goods and services fall into five main slabs—0%, 5%, 12%, 18%, and 28%. The 28% slab stands at the very
Introduction India’s Goods and Services Tax (GST), rolled out on 1 July 2017, replaced a patchwork of indirect taxes with a unified, multi-rate structure. Designed to categorize goods and services based on necessity, value addition, and affordability, GST features slabs ranging from 0% for essentials to 28% for luxury items. Nestled in the middle, the
New Delhi: When India rolled out the Goods and Services Tax (GST) on July 1, 2017, it replaced a patchwork of indirect taxes with a single nationwide system. To accommodate different economic priorities, the GST Council introduced multiple tax slabs. Among these, the 5% GST slab has emerged as a key category — designed to
