Expert Opinions Opinion

Cheaper Essentials, Tax-Free Insurance, Affordable Appliances and Cars: Inside India’s GST Overhaul

By BPN News Desk September 4, 2025

India’s Goods and Services Tax has finally undergone the kind of overhaul that touches every citizen’s wallet. The government’s latest reform order, unveiled as a Diwali gift, slashes rates across a wide span of categories — from soaps and shampoos to tractors and three-wheelers. Essentials drop to 5%, health and life insurance premiums are freed […]

Business Finance

GST Council Rolls Out Two-Slab Tax, Adds 40% ‘Sin’ Tier

By BPN News Desk September 4, 2025

The GST Council, chaired by Finance Minister Nirmala Sitharaman, has approved sweeping reforms to India’s Goods and Services Tax (GST), effective from 22 September 2025, coinciding with the Navratri festival. New GST Structure Under the new framework, the existing four tax slabs—5%, 12%, 18%, and 28%—are replaced by a simplified two-slab structure of 5% and […]

Business Finance

GST Council Meets to Discuss Major Rate Changes

By BPN News Desk September 3, 2025

The 56th GST Council, chaired by Finance Minister Nirmala Sitharaman, began a two-day meeting in New Delhi on September 3. The meeting includes representatives from the Centre and states to discuss major reforms in India’s indirect tax system. Simplifying the Tax Structure One of the key proposals is to replace the current four-tier GST system […]

South India State News

Karnataka Seeks Compensation Over Two-Slab GST Losses

By BPN News Desk September 1, 2025

Karnataka Chief Minister Siddaramaiah has warned that the Centre’s proposed shift to a two-slab Goods and Services Tax (GST) structure of 5% and 18% could lead to a revenue loss of nearly ₹15,000 crore annually for the state. While he expressed support for rationalisation of the tax regime, he insisted that reforms must not come […]

Economy National

GST Reforms Must Safeguard State Revenues, Says Stalin

By BPN News Desk August 29, 2025

Tamil Nadu Chief Minister M.K. Stalin cautioned that Goods and Services Tax (GST) reforms cannot genuinely benefit the public unless they protect states’ revenues. He stressed that financial security for states is essential even as the Centre moves ahead with rate rationalisation. States Unite Ahead Of Council Meet Stalin’s remarks came as eight opposition-ruled

Business Finance

New GST Rates Likely by Dussehra as Revenue Shortfall Looms

By BPN News Desk August 25, 2025

The government is preparing to revamp the Goods and Services Tax (GST) structure by Dussehra. The new plan includes two primary slabs of 5% and 18%, along with a 40% levy on luxury and sin goods. The proposal will be discussed in the upcoming GST Council meeting in early September, with implementation likely around the […]

Business Finance

GST Council to Meet Sept 3–4 on Two-Slab Reform

By BPN News Desk August 23, 2025

The 56th GST Council meeting will be held on September 3 and 4, 2025, in New Delhi. Both sessions will begin at 11 a.m., while a preparatory officers’ meeting is scheduled for September 2. Proposal for Two Main Slabs The Centre is expected to present a proposal to reduce the goods and services tax (GST) […]

Government Policies National

GoM Backs Scrapping 12% and 28% GST Slabs

By BPN News Desk August 21, 2025

The Group of Ministers (GoM) on GST rate rationalisation has approved the Centre’s proposal to simplify the goods and services tax system. The panel has recommended scrapping the 12% and 28% slabs and consolidating the structure into just two major rates — 5% for essential and merit goods and 18% for standard items. Shift of […]

Business Finance

FM to Head GST Panel Talks on Reforms

By BPN News Desk August 20, 2025

Finance Minister Nirmala Sitharaman will brief three ministerial groups of the Goods and Services Tax (GST) Council in New Delhi this week. The groups will discuss rate rationalisation, health and life insurance, and phasing out the compensation cess. Proposal to Simplify GST Slabs The government is considering moving from the current four-tier structure to two […]

Business Finance

Government May Slash GST on Health and Term Insurance

By BPN News Desk August 19, 2025

The Indian government is considering a cut in the Goods and Services Tax (GST) on health and term insurance premiums, potentially reducing it from the current 18% to 5% or even zero. This move is part of a broader GST restructuring—dubbed “GST 2.0”—aimed at simplifying tax slabs and easing the tax burden on citizens and […]