https://www.taxtmi.com/news?id=54535 The GST Council approved a package of reforms implementing a GST rate rationalisation with a two-tier rate structure effective from 22 September, together with simplified refund mechanisms, streamlined MSME procedures, and exemption of individual life and health insurance from the indirect tax net. The changes reclassify everyday goods and critical inputs into lower slabs and realign tax treatment in the Man-Made Fibre value chain to address inversion and working capital blockage. en-us Thu, 04 Sep 2025 05:16:02 +0530 Thu, 04 Sep 2025 05:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=54535 The GST Council approved a package of reforms implementing a GST rate rationalisation with a two-tier rate structure effective from 22 September, together with simplified refund mechanisms, streamlined MSME procedures, and exemption of individual life and health insurance from the indirect tax net. The changes reclassify everyday goods and critical inputs into lower slabs and realign tax treatment in the Man-Made Fibre value chain to address inversion and working capital blockage. News - Thu, 04 Sep 2025 05:16:02 +0530 https://www.taxtmi.com/news?id=54535