In a major overhaul of India’s indirect tax system, the GST Council has approved the government’s proposal to reduce the number of tax slabs to just two — 5% and 18%. At the same time, the Council has also introduced a 40% “special GST” for harmful and luxury goods. Finance Minister Nirmala Sitharaman, addressing the […]
In a major announcement ahead of Diwali, Finance Minister Nirmala Sitharaman unveiled sweeping GST reforms after the GST Council meeting, aimed at easing the tax burden on households, farmers, and businesses. Highlighting the government’s focus on simplification, Sitharaman said Prime Minister Narendra Modi had set the direction for next-generation reforms in his Independence Day address,
In a landmark decision to simplify India’s indirect tax framework, the Goods and Services Tax (GST) Council has approved a two-slab structure of 5% and 18%. The new system will take effect on September 22, 2025, in what is being described as one of the most significant reforms since GST was first introduced in 2017.
Understanding Tax Deducted at Source (TDS) is key for both individuals and businesses in India. Section 194E of the Income Tax Act deals with tax on services provided by non-residents. Knowing this section well helps in following tax rules and getting the right deductions. With the right information, you can handle the section 194E tax deduction smoothly. This is important for
The Finance Bill 2025 is one of the most important pieces of legislation in India’s financial calendar. It translates the Union Budget’s proposals into law, directly shaping how individuals, businesses, and the economy will be taxed and regulated in the coming year. The Bill is more than just a routine exercise—it determines the government’s revenue
