Jharkhand news today – GST Council approves historic tax reform with new 5%, 18%, and 40% GST slabs – jharkhandibaba.in

GST Council Approves Major Tax Reform

The GST (Goods and Services Tax) Council has just announced the most significant tax reform in India since the introduction of GST in 2017. The 56th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman, approved a sweeping rationalization of GST rates, abolishing the contentious 12% and 28% slabs and introducing a new, simplified two-tier tax structure. This move is set to directly benefit consumers, small businesses, and key economic sectors, while boosting demand and simplifying India’s indirect taxation system.

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Daily Jharkhand News Summary – May 2, 2025

The news landscape for May 2, 2025, offers a compelling snapshot of India’s growing strategic relevance on the global stage. From strengthened diplomatic and defense ties with the United States following a terror attack in Jammu & Kashmir, to economic triumphs like record-breaking GST collections and a renewed focus on cultural industries through the WAVES Summit, the day’s updates span a wide range of national interests.