Download the app
App StorePlay Store
Beige
Login
← All tags

tax reforms

Govt to fix inverted duty structure in Budget for 13 to 14 products, boosting local manufacturing

Govt to fix inverted duty structure in Budget for 13 to 14 products, boosting local manufacturing

Ahead of the Union Budget on February 1, the government is considering changes to an “inverted duty structure” affecting 13 to 14 products. In some cases, taxes on inputs are higher than on finished goods, inflating costs for manufacturers and weakening competitiveness. The Commerce Ministry has flagged the issue to the Finance Ministry, urging reform to support local manufacturing.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
GST rate changes for textiles promise cheaper apparel and export push

GST rate changes for textiles promise cheaper apparel and export push

The government has announced GST rate rationalisation for textiles to remove distortions and strengthen exports, targeting a $350 billion industry by 2030. The move cuts GST on garments and fibres, aiming to make apparel more affordable while fixing the inverted duty structure that previously hurt manufacturers and encouraged distortions in supply chains.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

Your news, in seconds

App StorePlay Store
GST for cars gets simpler on paper but unsettles prices and credits

GST for cars gets simpler on paper but unsettles prices and credits

India’s GST Council has overhauled automobile taxation, replacing the old four-tier structure with a two-tier model by scrapping the Compensation Cess and increasing the base GST rate to 40%. The reform is meant to simplify compliance and rates, but uncertainty persists around how existing cess credits will be handled and whether consumers will actually see lower prices.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Faceless I T appeals spark backlash as senior officers seek reviews without the rulebook

Faceless I T appeals spark backlash as senior officers seek reviews without the rulebook

The Centre’s National Faceless Appeal Scheme launched in 2020 aimed to reduce fear and curb discretionary power in income tax appeals. But a quiet bureaucratic dispute is now testing the reform’s core promise, with senior officers pushing for review processes that may not strictly follow the existing rulebook.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget 2025 may reboot direct taxes with a new income tax bill and roadmap

Budget 2025 may reboot direct taxes with a new income tax bill and roadmap

A report suggests the government could introduce a new income tax bill in the Budget 2025 Parliament session. The proposed direct tax code aims to simplify and streamline complex income tax laws so they’re easier for ordinary taxpayers to understand, with a possible roadmap that includes cutting tax rates and reducing exemptions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget 2024 signals tax reforms aimed at unlocking faster business growth

Budget 2024 signals tax reforms aimed at unlocking faster business growth

Budget 2024 is sharpening its focus on tax reforms, arguing that how taxes are designed drives real-world business decisions. Supporters say clearer, more predictable tax rules can influence investment, encourage expansion, and improve job creation, with knock-on effects for the broader economy and everyday outcomes for individuals.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

Never miss a story

App StorePlay Store
Page 1

The full experience is on mobile.

Swipe through stories, personalise your feed, and save articles for later — all on the app.

Download on the App StoreGet it on Google Play