GST

After GST rate cut, govt waives mandatory re-labelling of medicines

After GST rate cut, govt waives mandatory re-labelling of medicines

"All manufacturers/ marketing companies selling drugs/ formulations shall revise the Maximum Retail Price (MRP) of drugs/formulations (including medical devices). The manufacturers/ marketing companies shall issue a revised price list or supplementary price list to dealers and retailers for display to consumers, and to State Drug Controllers and the Government, reflecting the revised GST rates and revised MRP," the NPPA said. 1 day ago
GST reforms have reduced the tax burden on people: Nirmala Sitharaman

GST reforms have reduced the tax burden on people: Nirmala Sitharaman

"Earlier, GST had four categories. Now, we have simplified it into two slabs - 5 per cent and 18 per cent. Items that were taxed at 12 per cent and 18 per cent have largely been moved to the lower 5 per cent bracket. For certain essentials, tax has been reduced to zero. This reform will significantly benefit all 1.4 billion Indians," FM Sitharaman said. 3 days ago
GST revamp to enhance mobility, promote healthier lifestyles for youth

GST revamp to enhance mobility, promote healthier lifestyles for youth

By lowering GST rates on gyms/fitness centres, two-wheelers, and small cars, the Government has not only reduced the financial burden on households but also advanced its long-term vision of promoting healthier lifestyles, affordable transportation, and improved ease of living. 3 days ago
GST rate cut to spur credit growth of banks, NBFCs: Report

GST rate cut to spur credit growth of banks, NBFCs: Report

While the pace of incremental bank credit growth in the current year lags at Rs.3.9 lakh crore for the first five months of FY2026 compared to Rs.5.1 lakh crore for the previous year, the GST rate cuts aimed at spurring domestic demand would support credit expansion for banks and NBFCs in the near term. 7 days ago
Pahalgam terror attack: Nirmala Sitharaman cuts short US-Peru visit

Nil GST on life, health insurance to boost affordability, consumption

The move comes as part of the broader GST rationalisation, which merged the 12 per cent slab with 5 per cent and subsumed the 28 per cent into 18 per cent. Health and life insurance, which earlier attracted 18 per cent GST, have now been moved to the nil tax category. 9 days ago
Akhilesh Yadav Criticizes BJP, Calls for 2027 Change

'Every vote will drive BJP out', Akhilesh Yadav targets govt over GST reforms

The SP chief also highlighted the plight of traders and the poor, noting that despite nine budgets under the BJP government in Uttar Pradesh, their situation has not improved. He accused the BJP of being "Swadeshi" in rhetoric but "Videshi" in practice, suggesting a disconnect between their stated economic policies and their actual impact on the ground. 9 days ago
CBIC denies viral claims on GST transition benefits from Sep 22, calls message misleading

CBIC denies viral claims on GST transition benefits from Sep 22, calls message misleading

"It has come to notice that an informal message claiming to be from Chairman CBIC is being widely circulated on social media, claiming that certain transition benefits under GST will be applicable from September 22 on issues related to unutilised cess credit, ITC of exempted supplies and new price adjustment provisions. It is hereby informed that such claims are factually incorrect and misleading," CBIC said in its post. 10 days ago
GST rate cuts big relief for FMCG, apparel, footwear, restaurants: Report

GST Slash on Personal Care, Apparel, and QSR Inputs to Drive Demand, Margins

Footwear below Rs 1,000 faced 12 per cent GST while those above Rs 1,000 had 18 per cent. Apparel and footwear priced between Rs 1,000 and Rs 2,500 will be taxed at only 5 per cent. For apparel priced above Rs 2,500, the GST has been raised to 18 per cent from the earlier 12 per cent, while footwear above Rs 2,500 continues at 18 per cent. 10 days ago
'GST 2.0 a Huge Gift to People,' Says Ashwini Vaishnaw, Hails PM Modi's New Reforms

'GST 2.0 a Huge Gift to People,' Says Ashwini Vaishnaw, Hails PM Modi's New Reforms

The GST 2.0 reforms, approved by the 56th GST Council, aim to simplify the tax structure by transitioning from a multi-slab system to a primary two-slab system of 5 per cent and 18 per cent, effective from September 22, 2025. This overhaul is designed to make essential goods and services more affordable, reduce the compliance burden on businesses, and stimulate consumption-led economic growth. Previously, the GST structure comprised four slabs of 5 per cent, 12 per cent, 18 per cent, and 28 per cent. 11 days ago
Mixed reaction from farm unions on GST reduction in farm inputs

Mixed reaction from farm unions on GST reduction in farm inputs

However, pointed out Swabhimani Shetkari Sanghatana president Raju Shetti, "What I gather is that the GST reduction has been announced only for bio-pesticides. Such bio-pesticides are used by barely five per cent of the farmers in India. How does it benefit the majority?" 13 days ago
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