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The GST Council approved a Track 'Trace Mechanism for evasion-prone goods, aiming to curb tax leakage. The mechanism will involve a unique mark on goods, enabling tracing throughout the supply chain.

India's finance minister says states rejected the proposal to include aviation turbine fuel (ATF) in the Goods and Services Tax (GST). The GST Council also deferred decisions on insurance premiums...

The GST Council will form a group of ministers to examine Andhra Pradesh's request for a 1% calamity cess on luxury goods to recover from recent floods. The cess is intended to help the state...

The GoM on GST rate rationalisation has deferred submission of its report to the GST Council, which suggested rate rationalisation in 148 items, including a higher tax on sin goods.

The GST Council has postponed a decision on reducing tax rates on life and health insurance premiums, citing technicalities. The GoM will meet again in January to further deliberate.

The 55th GST Council meeting will discuss reducing taxes on health and life insurance, bringing ATF under GST, and rate revisions on 148 items. Learn about the proposed changes and the impact on...

Finance Minister Nirmala Sitharaman announced that funds devolved to states under the 15th Finance Commission are higher than the 14th. She also highlighted the enhanced allocation under the SASCI...

Kerala demands a special package of Rs 24,000 crore to address its liquidity crisis and Rs 2,000 crore for Wayanad relief works, highlighting concerns over GST implementation and fiscal constraints.

Indian states urged for increased funding, including a 50-year interest-free loan scheme, special packages for fiscally stressed states, and higher borrowing limits in a pre-budget meeting with the...