Odisha Chief Electoral Officer (CEO) has scheduled a meeting on May 11, 2026 with a delegation of the Biju Janata Dal (BJD) with regards to latter’s allegation regarding “illegal” issuance of second ballot to two Bharatiya Janata Party (BJP) MLAs during Rajya Sabha election
Prabhas-starrer Fauzi shoot halted after fatal accident kills crew member, 5 injuredThe big-budget film faces indefinite production suspension after a tragic accident resulted in one death and multiple injuries near Hyderabad. May 6, 2026, 16:21:20 IST Written by Monica Yadav Share via Copy link
Himanta to return? Who will be Assam's new chief minister after BJP's poll win?BJP secured a majority in the state, winning 82 of the total 126 seats in the Assam Assembly. Published on: May 06, 2026 4:52 PM IST By Arya Mishra Share via Copy link The Bharatiya Janata Party has managed to retain
‘BJP won’t let funds reach us’: Akhilesh Yadav on why Samajwadi Party cut ties with I-PACFounded by political strategist-turned-politician Prashant Kishor, I-PAC is known for managing high-profile election campaigns across the country. Updated on: May 06
Land dispute pits BJP MLAs against each other in UP's UnnaoLand dispute pits BJP MLAs against each other in UP's Unnao Published on: May 06, 2026 4:24 PM IST PTI Share via Copy link Unnao , A land dispute in Uttar Pradesh's Unnao district has pitted two Bharatiya Janata Party MLAs against each
The Goods and Services Tax (GST) Council will consider proposals to give tax relief to consumers and reform the GST structure to make compliance easier for businesses at a two-day meeting starting 3 September, two persons informed about the development said.
Tax cuts and GST reforms are closer than you think
The Goods and Services Tax (GST) Council will consider proposals to give tax relief to consumers and reform the GST structure to make compliance easier for businesses at a two-day meeting starting 3 September, two persons informed about the development said.
The Council meeting in New Delhi will be preceded by a meeting of central and state officials.
Finalizing the schedule of the Council meeting a day after a key ministerial panel of the Council endorsed the central government's proposals for steep tax rate reductions and reforms in the indirect tax structure indicates the urgency with which central and state officials are preparing for the sweeping changes to the tax structure meant to deliver a consumption stimulus and make life easier for businesses, especially for small businesses and exporters.
“The central government is committed to implementing the reforms and the rate cuts before thefestiveseason,” one of the two persons quoted above said on the condition of not being named.
The idea is to implement the proposals quickly so that consumers planning purchases before Deepavali, celebrated in October, benefit from them.
The meeting schedule is also such that an announcement could come before the grand day of Onam celebrations, which falls on 5 September this year.
Ganesh Chaturthi, which falls towards the end of August and Onam, mark the beginning of the festive season which peaks around Deepavali and continues till Christmas towards the end of December. Fast-moving consumer goods and consumer durable companies have hectic sales during this period.
“The move Indicates that policy makers are very serious about announcing the changes recommended by the group of ministers set up by the Council, well ahead of Diwali so that consumers benefit without any need to defer purchases,” said M.S. Mani, Partner- Indirect Taxes, Deloitte India.
Queries emailed to the finance ministry and to the GST Council on Friday seeking comments remained unanswered at the time of publishing.
On Thursday, the GST Council's ministerial panel that reviewed central government's proposals endorsed dropping the 12% and 28% GST slabs from the current four-slab structure in favour of a new two-rate structure, Mint reported on Friday, quoting the panel's convenor and Bihar deputy chief minister Samrat Chaudhary.
As per the proposed changes, most of the goods in the 12% slab will be shifted to 5% and many of the items in the 28% slab to 18%, while some goods like high-end cars and tobacco and its preparations are likely to go to a new 40% slab.
Also, the GST compensation cess currently levied on some of the goods in the 28% slab including cars and tobacco will be done away with. Cars including SUVs are expected to get significant tax relief.
However, sin goods such as tobacco and aerated drinks may face a new duty so that the tax incidence on them remains the same after the restructure.
Some of the states have sought the Centre to compensate them for any short-term revenue loss. The thinking in the government is that improved demand for goods and services in the economy will help to make up for the revenue loss, in due course.
Insulin, condensed milk, preserved fish and vegetables, granite and marble, tableware and kitchenware and certain pharmaceutical products are among the products that will move from 12% to 5%.
Source: LiveMint
Related Posts: GST Council Cuts Tax On Renewable Energy Equipment To 5% Taxable Value Of Goods Surges 15% In Sep-Oct As GST Cuts Boost Consumption What Are ‘Sin Goods’ And Why Do They Now Attract 40% GST Industry flags GST hike on capital goods GST On Sin Goods Check the full list of goods now tax-free Modi's tax cuts will give India a festive spending boost IRS to give 'gigantic' tax refunds in 2026 Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax Government clears 29 investment proposals worth ₹7
‘Nobody wanted to talk to me’: Harvard-educated VC on failure and feeling like an outsiderAmy Wu Martin, a Harvard-educated venture capitalist, has opened up about her childhood as an immigrant in the United States. Updated on: May 06, 2026 4:02 PM IST By Sanya Jain Share via Copy link A
2 hours ago
Congress leader Rahul Gandhi on Wednesday alleged that roughly every sixth MP of the Bharatiya Janata Party in the Lok Sabha had won elections through “vote theft” and claimed the party would not secure even 140 seats if elections were conducted fairly
2 hours ago
Bryson DeChambeau says he will focus on growing his YouTube channel and only "play tournaments that want me" if LIV Golf does not survive. The future of the breakaway series was plunged into doubt when Saudi Arabia announced it will withdraw its multibillion dollar backing at the end of the year
2 hours ago
Washington is reportedly nearing a breakthrough with Tehran on a preliminary deal to de-escalate tensions and pave the way for nuclear talks. The proposed one-page memorandum of understanding includes Iran halting nuclear enrichment, the US lifting sanctions and releasing frozen funds
2 hours ago
The U.S. Military launched another strike on Tuesday (May 6, 2026) on a vessel suspected of transporting drugs in the eastern Pacific Ocean, killing three men. The attack came a day after U.S. forces struck an alleged drug boat in the Caribbean Sea, killing two people.The U.S
2 hours ago
"We're not just a story. We're not just headlines, we're people with families, with lives, with people waiting for us at home," said a tearful Jake Rosmarin. For the American travel vlogger on board the luxury cruise liner MV Hondius in the Atlantic ocean, a dream voyage has taken a deadly turn
2 hours ago
Pakistani sportspersons will be able to participate in multilateral events in India, but will not be allowed to take part in bilateral tournaments held in the country, stated the Union government on Tuesday. The Ministry of Youth Affairs and Sports said in an office memorandum: “In so far as
2 hours ago
Sanjay Raut and NCP (SP) back Mamata Banerjee's decision not to resign as West Bengal Chief Minister. They allege democratic processes were subverted and central agencies misused to influence the assembly poll outcome. Raut calls for unity against the Centre's dictatorship and the Election
3 hours ago
Delhi’s notoriously toxic air may appear to be cleaner these days, but it could be hiding a bigger, quieter problem. According to a report in The Indian Express, while the national capital’s nitrogen dioxide and carbon monoxide levels have gradually declined over the years
2 hours ago
Chinese foreign minister Wang Yi has called for the Strait of Hormuz to be reopened "as soon as possible" in talks with his Iranian counterpart. The pair met in Beijing on Wednesday on what is Iranian foreign minister Abbas Araqchi's first trip to China since the Iran war began
2 hours ago
The Council for the Indian School Certificate Examinations (CISCE) on Thursday (April 30, 2026) announced the results of the ICSE (Class X) and ISC (Class XII) main examinations for 2026 with girls outperforming boys in both classes. Over 3.6 lakh students across India and abroad sat for the
2 hours ago
Spirit release date postponed? Makers clarify on Sandeep Reddy Vanga film with Prabhas and Triptii DimriAmid ongoing speculations that the release date of Spirit has been postponed, the makers have issued a statement. The film stars Prabhas in the lead. May 6, 2026
2 hours ago
Vivek Ramaswamy will run for the position of Ohio governor in November, after the staunch ally of US President Donald Trump emerged victorious in one of a series of primary contests held in the US Midwest. Projected results on Tuesday night showed the health-tech entrepreneur had defeated Casey
2 hours ago
Two sides, both jolted out of rhythm just when they seemed unstoppable, now collide in a high-stakes showdown as Sunrisers Hyderabad locks horns with Punjab Kings at the Rajiv Gandhi International Stadium. The hosts were riding a wave of confidence
3 hours ago
Should you avoid stepping out between 11 am and 4 pm in summer? Doctor shares 8 reasons your body can't handle the heatKnow why this common medical advice actually holds up and what changes your body undergoes when exposed to extreme heat during these hours. Published on: May 06
2 hours ago
Bengaluru-based loyalty and customer engagement firm reported a 26% year-on-year (YoY) rise in operating revenue for the March quarter, driven by expansion within its existing customer base, new annual contracts, and integration of the Kognitiv business acquired last year
2 hours ago
In 105 seats that the Bharatiya Janata Party won in West Bengal, the total number of voters deleted during the special intensive revision exceeds its margin of victory, according to a data analysis by Scroll. Of these, 86 are seats that the BJP has never won before
3 hours ago
The rupee appreciated by 23 paise to 94.95 against the U.S. dollar in early trade on Wednesday (May 6, 2026) as Brent crude prices retreated from their elevated level after U.S. President Donald Trump hinted at a possible deal with Iran. Forex traders said oil prices fell to $108 per barrel
3 hours ago
Synopsis: The Future of Knowledge Work Summit 2026 in Bengaluru explores how AI is transforming knowledge work and redefining roles and skills. This exclusive summit brings senior leaders together to understand the shift from automated tasks to the rising importance of human judgment, creativity
2 hours ago
New Delhi, May 6 (PTI) Multi-brand restaurant operator Trimex Foods on Wednesday said it has bagged franchise rights for American Chinese dining brand Panda Express in India from a subsidiary of Panda Restaurant Group, Inc. Through this alliance
2 hours ago
The Jharkhand Board on Wednesday announced Class 12th results on the official website of the Jharkhand Academic Council (JAC). Students who took the exams can access their results on jac.jharkhand.gov.in, jacresults.com by entering their roll number, roll code, and choosing their respective stream
3 hours ago
Oil prices have dropped following reports that the US and Iran are close to a deal to end the war. Brent crude futures, the global benchmark oil price, fell to below $102 (£75) a barrel after the reports. The price was over $108 earlier in the day
3 hours ago
Kyle Rittenhouse says ‘felons deserve the right to own guns'; sparks debateKyle Rittenhouse has sparked a debate with a post on X, where he suggested that felons should be given the right to own guns if they serve their time. Published on: May 06
2 hours ago
Chinese Foreign Minister Wang Yi condemned US-Israel military actions as "illegitimate" during talks with Iranian counterpart Abbas Araghchi in Beijing. The meeting, part of Tehran's broader diplomatic tour, focused on a regional ceasefire, maritime security in the Strait of Hormuz
2 hours ago
In a landmark decision aimed at bridging the educational divide in Maharashtra’s most challenging terrains, the Maharashtra State Cabinet has officially sanctioned the expansion of 24 tribal ashram schools. The meeting chaired by CM Devendra Fadnavis approved a strategic plan to upgrade five
2 hours ago
The Aam Janata Unnayan Party led by former West Bengal minister Humayun Kabir has moved the Calcutta High Court alleging large-scale violence in Murshidabad district following the Assembly elections, Live Law reported on Wednesday. Kabir had been suspended by the Trinamool Congress in December
2 hours ago
Pakistan athletes allowed in India, but bilateral sports ban stays as Government clarifies multilateral event policyIndia maintains a bilateral sporting ban with Pakistan but allows Pakistani teams to compete in multilateral events hosted in India. Published on: May 06
2 hours ago
