In a significant move to strengthen India’s tourism and cultural sectors, the government has introduced major GST cuts. Hotel stays under ₹7,500 will now be taxed at 5 per cent, buses at 18 per cent, and art and cultural goods at 5 per cent. These changes are expected to make travel more affordable, promote traditional craftsmanship, and boost employment across the hospitality and transport industries.
The GST Council’s 56th meeting slashed rates to 18% for vehicles and 5% for tractors, boosting affordability, employment, and sustainable mobility across India.
In September 2023, India’s gross Goods and Services Tax (GST) revenue soared to ₹1,62,712 crore, marking a remarkable 10% year-on-year growth. This achievement signifies the fourth instance in the fiscal year 2023-24 that GST collections have exceeded the ₹1.60 lakh crore threshold. This impressive performance in September was fueled by a breakdown of collections as…
