The president says the VAT system used across Europe gives other countries unfair trade advantages. Here’s how the system ...

The GST Council, led by Finance Minister Nirmala Sitharaman, plans to simplify and lower tax rates as the review nears ...

Tariffs have become President Donald Trump's favored economic move, prompting a lot of folks to ask what it is they even do.

Indirect taxes are charged on goods and services, not on income or profits. These taxes are collected by businesses, such as ...

The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament, today i.e. February 02, 2025. Majorly the changes were earlier ...

Lawmakers will consider a bill to increase the state excise tax and wipe out the state income tax for most residents.

The e-Way Bill (EWB) system under the Goods and Services Tax (GST) regime governs the movement of goods across India.

For Hybrid Businesses (e.g., Sweet Shops with Restaurants): Separate invoicing and classification are necessary to ensure compliance. Restaurant sales should be billed under SAC 996331 at 5% GST, ...

Dozens of states have a general sales tax. In Illinois, the tax covers consumer goods, but not services. That's a mistake, ...