Try GOLD - Free
GST rationalisation review in final stages: Sitharaman
Hindustan Times Pune
|March 09, 2025
The government is in the final stages of reviewing the country's goods and services tax (GST) regulation, and rationalisation and reduction of the levy would happen soon, Union finance minister Nirmala Sitharaman said at The Economic Times Awards for Corporate Excellence 2024 on Saturday.
MUMBAI:
Sitharaman said representations from states related to changes in GST were in the final stage of review, and the Union government was considering putting a proposal for rationalisation of the levy and potential changes in the tax slabs before the GST Council in its next meeting.
The GST Council comprises the Union finance minister along with all state finance ministers. GST rates have come down since the law was implemented in 2017, and the currently ongoing revision is also likely to lower the levy further, the minister said.
"At the time when the GST was launched, the revenue-neutral rate was about 15.8%," said Sitharaman.
Sitharaman also said that the World Trade Organization (WTO) was ineffective in resolving trade disputes, making the clarity of language in bilateral agreements more important amid tariff uncertainties.
Speaking about negotiation of free trade agreements, Sitharaman said that India's interest must be put first.
This story is from the March 09, 2025 edition of Hindustan Times Pune.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times Pune
Hindustan Times Pune
Superb Manisha goal too little, India end with 1-3 loss to Taipei
By the time the goal of the AFC Women’s Asian Cup is decided, Manisha Kalyan should be back with Alianza Lima in the Peruvian top division.
2 mins
March 11, 2026
Hindustan Times Pune
The story India's new GDP series tells us
Higher growth will come from private investment stepping up
4 mins
March 11, 2026
Hindustan Times Pune
SC to decide legality of Centre's fact-check unit
The Supreme Court on Tuesday said that it would lay down the law on the Union government's attempt to establish a Fact-Checking Unit (FCU) to flag fake or misleading information about the business of the government, observing that individuals, digital platforms and intermediaries must share responsibility along with state institutions in tackling content that could be damaging to the nation.
1 min
March 11, 2026
Hindustan Times Pune
GUJARAT GOVT TO GIVE ₹1,331 CR IN BID TO MAKE AHMEDABAD 'OLYMPIC-READY'
The Gujarat government has made a budgetary provision of ₹1,331 crore in its effort to transform the state into a sports hub and develop Ahmedabad as an \"Olympic-ready\" city, state minister Jitu Vaghani told the assembly on Tuesday.
1 min
March 11, 2026
Hindustan Times Pune
Canadian province eyes mineral ties with India
Canada’s Saskatchewan province, which is central to plans to ramp up cooperation with India in rare earth elements and uranium supply, is open to exploring joint ventures and investments for exploration and processing of minerals and working on projects for food security, provincial premier Scott Moe has said.
2 mins
March 11, 2026
Hindustan Times Pune
Govt clears IBC changes after select panel review
The Union Cabinet on Tuesday approved the final amendments to the Insolvency and Bankruptcy Code (IBC), for which legislation will be moved in the Parliament in the ongoing session, two persons familiar with the development said.
2 mins
March 11, 2026
Hindustan Times Pune
Indian mkts join global relief rally on Trump's comments
Indian shares settled higher on Tuesday, climbing from their lowest levels in nearly a year, as crude oil prices eased in a relief rally enabled by comments from US President Donald Trump read by market participants as de-escalatory.
1 mins
March 11, 2026
Hindustan Times Pune
Varun's Hai Jawani Toh Ishq Hona Hai postponed, avoids clash with Yash's Toxic
Filmmaker Priyadarshan explains his 'poor education' comment on actor Rajpal Yadav was about awareness and innocence, not academic literacy
1 min
March 11, 2026
Hindustan Times Pune
Qantas, SAS, Air NZ hike fares, cite fuel cost
NEW DELHI: Australia’s Qantas Airways, Scandinavia's SAS and Air New Zealand announced airfare hikes on Tuesday, blaming an abrupt spike in the cost of fuel caused by the Middle East conflict that is rattling global aviation.
1 min
March 11, 2026
Hindustan Times Pune
SC orders tribunals for excluded Bengal voters
The Supreme Court on Tuesday ordered the constitution of appellate tribunals comprising former chief justices and judges of high courts to hear appeals from voters excluded during the ongoing Special Intensive Revision (SIR) of electoral rolls in West Bengal, even as it expressed dissatisfaction with both the petitioners and the Election Commission of India (ECI) over the manner in which the contentious exercise is unfolding.
3 mins
March 11, 2026
Listen
Translate
Change font size