GST

GST rationalisation to benefit poor, middle class, entrepreneurs: FM Sitharaman

"We should all work to accelerate growth, make it easy for business to function and be attractive for investment. Such a big tax reform became possible by taking all states together, since 2017," said the finance minister, citing Prime Minister Narendra Modi's address to the nation on Sunday.

27 days ago

Stock market opens marginally lower, Nifty IT down 2.68 pc

As of 9.26 am, the Sensex was down 189 points, or 0.23 per cent at 82,772 and the Nifty was down 40 points, or 0.16 per cent at 25,286. Sensex and Nifty had opened with dips of 0.40 per cent and 0.33 per cent respectively, but later cut down on the losses.

27 days ago

GST 2.0 rollout, H-1B visa fee hike and India-US trade talks to drive market sentiment next week

A large number of Indians are employed in the US on H-1B visas, and the move is expected to have a significant impact on the technology sector. However, the Trump administration has clarified that this will be a one-time fee, applicable only to new visa applications.

28 days ago

GST 2.0 to enhance ease of living & ease of doing business: PM Modi

The Prime Minister was responding on X to an article written by Union Minister Chirag Paswan on the GST 2.0 reforms that will kick in on September 22, just ahead of the festive season, to reduce the prices of over 90 per cent goods sold in markets across the country.

Sep 19, 2025

GST reduction on drones to encourage wider adoption, boost domestic manufacturing

A uniform tax structure will end classification disputes, provide policy certainty, and offer a predictable environment for businesses investing in this emerging industry, said an official statement.

Sep 19, 2025

GST reforms to lower rates on 11 out of 30 top consumption items: Report

The move is likely to improve purchasing power, especially for low-middle income segments, as the consumption-weighted average GST rate is lower in majority of food and household items and will attract either 0 per cent or a 5 tax rate.

Sep 18, 2025

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.

Sep 16, 2025

Milk gets cheaper by Rs 2/litre as Mother Dairy cuts prices after GST reforms

The development comes on the back of a major revamp in GST, under which the government has provided relief to citizens by reducing taxes on essential food items and stationary products. Tax rates were slashed down to 5 per cent and nil, from the earlier 12 per cent and 18 per cent slab.

Sep 16, 2025

Passenger vehicle sales down in Aug as consumers await GST cuts, 2-wheeler sales up: SIAM

In contrast, the two-wheeler market recorded a steady increase. Dispatches rose 7 per cent to 18,33,921 units from 17,11,662 units a year ago. Within the segment, scooter sales grew 13 per cent to 6,83,397 units, while motorcycle dispatches climbed 4 per cent to 11,06,638 units

Sep 15, 2025

From morning tea to dinner, GST benefits in everything: FM Sitharaman

"Some may have criticised me, saying I only know how to put people in trouble, but we're working for the nation. State ministers have been part of the GST Council since its inception, and this decision was made collectively," FM Sitharaman added.

Sep 14, 2025

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.

Sep 14, 2025

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.

Sep 14, 2025

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.

Sep 10, 2025

India remains 'ripe for long-term alpha creation', says Jefferies

Analysts believe that the automobile sector will be among the biggest beneficiaries of the GST cut, with demand expected to rise sharply after September 22.

Sep 9, 2025

GST 2.0 rollout adds fresh fuel to mass consumption towards formalisation trend: Report

"The anticipatory rally ahead of the GST 2.0 announcement was rewarding. As we factor in benefits and lift target prices of select stocks, our stock calls remain firm," the report added.

Sep 9, 2025

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.

Sep 8, 2025

'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.

Sep 7, 2025

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.

Sep 7, 2025

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.

Sep 7, 2025

GST reforms send strong signal to global investors about ease of doing biz: USIBC

"Such forward-looking reforms not only improve the business climate in India but also send a strong signal to global investors about the country's commitment to fostering growth and ease of doing business," the Council said in the statement posted on X social media platform.

Sep 7, 2025