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Business

Palak Paneer Myths Debunked: Nutrition Experts Clarify Facts on Iron-Calcium Interaction

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Ludhiana

Beyond Paneer: Punjab dairy farmers eye premium cheese market
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Business

No!ce Launches Quick-Commerce Line Of 200+ Authentic, Small-Batch Snacks & Drinks Made With High-Quality Ingredients
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India

GST 2.0 reforms: Two-slab structure to boost consumption Tribune News Service New Delhi, September 4 In a major reform of the taxation framework, the Goods and Services Tax (GST) Council on Wednesday approved a streamlined two-slab GST structure to stimulate consumption and drive economic growth amid global challenges. The overhaul mirrors the landmark change in the personal income tax regime earlier this year, which exempted incomes up to Rs 12 lakh (Rs 12.75 lakh for salaried individuals) from tax. The move underscores the government’s push to enhance domestic purchasing power and economic resilience. GST 2.0 Dubbed GST 2.0, the reform replaces the existing four-tier GST rates (5%, 12%, 18% and 28%) with two primary slabs of 5% and 18%, alongside a special 40% rate for luxury and sin goods. The new structure will be implemented by September 22, except for pan masala, gutkha, cigarettes, chewing tobacco, unmanufactured tobacco and bidis, which will continue at current rates and compensation cess until cess-related loan obligations are cleared. Key features The new framework keeps essentials at 5%, mid-range goods and services at 18% and luxury/sin goods such as pan masala, gutkha, cigarettes and luxury cars at 40%. Rate cuts span food, agriculture, fertilisers, textiles, education, electronics, automobiles, healthcare, construction and handicrafts —expected to lift demand ahead of the festive season. Exemptions and cuts Life and health insurance, Ultra-high-temperature milk, paneer, chapatis and 33 critical medicines are exempted. Items like soaps, shampoos, toothpaste, utensils, cement, ACs, TVs, tractors and medical devices now face lower GST. Hospitality, wellness services and handicrafts also benefit from reduced rates. Impact The government estimates revenue implications of Rs 48,000 crore, but expects stronger consumption, compliance and growth to offset losses. Consumers will see lower household expenses, while businesses — especially MSMEs — gain from simpler rates and corrected duty structures. Industry bodies have welcomed the reform, calling it a major step towards growth, affordability and inflation control. FICCI President Harsha Vardhan Agarwal said, “The simplification of the tax structure will offer multiple benefits. It will reduce classification disputes, improve compliance and address anomalies on account of inverted duty structure. This is a major positive for the economy both in terms of lifting growth and containing inflation.”
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Haryana

NDRI ranks 2nd in National Institutional Ranking Framework
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Haryana

NIRF rankings: NDRI secures 2nd rank in Agriculture and Allied Category
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Business

5 Must Try North Indian Culinary Gems in Delhi NCR
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Features

Breakfast choices for a healthy kick-start to your day
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Business

No!ce Launches Quick-Commerce Line Of 200+ Authentic, Small-Batch Snacks & Drinks Made With High-Quality Ingredients
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Business

Country Delight Launches High Protein Cow Milk with 2X (30g) Protein -- A Game-Changer in India's Protein Revolution
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