GST reforms to boost GDP by Rs 20 lakh crore: Ashwini Vaishnaw

September 22, 2025 10:43 PM

GST reforms to boost GDP by Rs 20 lakh crore: Ashwini Vaishnaw

Union Electronics and IT Minister Ashwini Vaishnaw on Monday said that the simplification of the Goods and Services Tax (GST) framework will significantly improve ease of doing business, boost demand, and add nearly ₹20 lakh crore to India’s GDP. Speaking to the media, Vaishnaw said the reform is being welcomed across the country as it allows people to save a greater share of their income and makes most everyday essentials more affordable. Targeting the opposition, the minister remarked th...

GST 2.0 gives booster shot to coal sector

September 22, 2025 4:24 PM

GST 2.0 gives booster shot to coal sector

The GST 2.0 reforms have brought major changes to the coal sector’s taxation structure, benefiting both producers and consumers of the fossil fuel, the Ministry of Coal said in a statement on Monday. Under the new framework, the ₹400-per-tonne Compensation Cess previously levied on coal has been completely removed, while the GST rate on coal has been increased from 5% to 18%. Despite the higher GST rate, the overall tax incidence for end consumers will be lower, thanks to the elimination of...