- India plans to simplify GST rate regime by introducing three slabs instead of four
- GST compliance has improved since its introduction in July 2017
- Revenue from GST has been steadily rising, increasing 11.7% in fiscal year through March 2024
- Government intends to combine existing slabs of 5%, 12%, 18%, and 28% into three rates
- Import duty on gold reduced to boost jobs and exports in gems and jewelry sector
- Government collected over 130 billion rupees from online gaming companies with 28% GST
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- GST on Hotel Rooms ≤ Rs 7,500: 5% Rate, No ITC for Hotels or Business Travellers
- GSTN Releases Key FAQs on GSTR 9/9C Filing for Financial Year 2024-25
- Supreme Court: VAT Credit Cannot Be Denied Due to Supplier’s Tax Default
- Trickiest countries in which to achieve compliance
- India announces changes in the Invoice Management System
