Tag: GST

Jun 22

GoM proposes removal of many GST exemptions

A group of ministers (GoM) reviewing goods and services tax (GST) rates has proposed removal of exemptions on a host of services, including for stay in relatively cheaper hotel rooms, hospital rooms above a tariff threshold and services provided by financial sector and food safety regulators. In line with a mandate to raise the revenue […]
Jun 5

Borrowing curbs eased for high-debt states

The Centre has decided to lift a virtual freeze on fresh market borrowings by states with large off-Budget liabilities. It will, however, strike off at least 25 basis points (bps) from the net base borrowing ceiling (NBC) of 3.5% of gross state domestic product (GSDP) of these states in FY23. The off-Budget liabilities will be […]