India Slashes GST Rates to Boost Consumption, Simplify Tax Structure New Delhi – India has announced sweeping cuts in goods and services tax (GST) rates, aiming to make the system simpler and give a push to consumer demand. Finance Minister Nirmala Sitharaman, who chairs the GST panel comprising state finance ministers, said late Wednesday that […]
Modi Announces GST Cuts and New Defence System Amid U.S. Trade Tensions New Delhi: Facing growing pressure from U.S. tariffs that threaten India’s exports, Prime Minister Narendra Modi announced a reduction in goods and services taxes (GST) starting this October, a move aimed at boosting domestic consumption. Modi also revealed plans for a new defence […]
Finance Minister Muhammad Aurangzeb during a National Assembly session, addressed the issue, saying that the government has reduced the GST rate on solar panels to encourage affordability, making the self-imposed price increases by traders a cause for concern. The finance minister warned those inflating solar panel prices without justification and said that the federal government […]
Chairman FBR informed the NA body’s session, chaired by Naveed Qamar, that the sales tax is not imposed on photovoltaic cells. “There is no sales tax on the import of complete solar panels. Tax being imposed over parts being imported to complete them here,” the FBR chief said. “Tax should not be slapped over solar […]
According to sources, the IMF has insisted on maintaining the 10% sales tax on stationery items, leading to a significant increase in prices, despite efforts by the government. Sources said that the tax increase has resulted in a 15% rise in the prices of stationery items, affecting students, businesses, and the general public. The tax […]
According to the notification, the stamp duty will be levied at Rs50 per ticket for domestic travel and Rs400 per ticket for international travel. The government has sent notifications to six Pakistani and four foreign airlines, directing them to collect the stamp duty on behalf of the provincial government. The move is expected to generate […]
This includes ending GST exemptions on approximately 7,000 items, as well as eliminating exemptions and concessions on income tax and customs duty. The volume of tax exemptions will be reduced. The National Economic Survey for 2024-25, released on Tuesday, revealed significant insights regarding tax exemptions. The survey indicated that tax exemptions amounting to Rs 3,979 […]
