Page 5 - Latest Updates on Goods and Services Tax
Auto firms split over GST rejig impact on car and two-wheeler sales
Maruti Suzuki India Chairman R C Bhargava said that GST on cars is currently 28 per cent, with a cess on larger cars pushing the total burden to 40-45 per cent
 "Auto firms split over GST rejig impact on car and two-wheeler sales")
Need GST Council-like bodies to boost infra growth: Tata Power CEO Sinha
Sinha says power sector requires ₹3 trn in funding over 5 years
 "Need GST Council-like bodies to boost infra growth: Tata Power CEO Sinha")
Equities, rupee sparkle on 'double Diwali' promise; bonds flicker
10-yr bond yield sees sharpest rise in nearly two years as GST rejig plan stokes fiscal fears
 "Equities, rupee sparkle on 'double Diwali' promise; bonds flicker")
India's GST cuts to lift festive e-commerce sales by up to 20%: Executives
India's GST overhaul is expected to drive festive e-commerce sales higher by 15-20% in electronics and other categories, as lower tax rates put more money in consumers' hands
 "India's GST cuts to lift festive e-commerce sales by up to 20%: Executives")
UltraTech, ACC, Shree Cement surge up to 5%. Should you buy, hold or sell?
Cement shares rally on Monday: Analysts view the potential GST rate cut as a sentimental booster for the sector given it may help perk up industry margins.
 "UltraTech, ACC, Shree Cement surge up to 5%. Should you buy, hold or sell?")
Two-slab 'Next Gen GST' to pay way for single tax rate by 2047: Centre
The proposed two-slab regime, if approved by the GST Council, will replace the current four slabs in the goods and services tax (GST) regime, doing away with the 12 per cent and 28 per cent slabs
 "Two-slab 'Next Gen GST' to pay way for single tax rate by 2047: Centre")
GST revamp brings price cuts on ACs, mobiles. Check full list of items
PM Modi announced new GST rates as a Diwali gift, cutting prices on many goods. ACs, snacks, mobiles, soaps and cement will get cheaper. Check full list of items here
 "GST revamp brings price cuts on ACs, mobiles. Check full list of items")
Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax: Cong
Congress general secretary in-charge of communications, Jairam Ramesh, said that for well over a year and a half at least, the party has been calling for a radically transformed GST 2.0
 "Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax: Cong")
'Double Diwali': Rejigged rates, red tape cuts to define GST 2.0
The proposal was announced by the prime minister Narendra Modi from the ramparts of the Red Fort in his independence day speech as a Diwali gift
 "'Double Diwali': Rejigged rates, red tape cuts to define GST 2.0")
Insurers hopeful of reduction in GST on health and life premiums
Insurers hope for a reduction in GST on health and life insurance premiums, following PM Modi's announcement of GST relaxations, aiming to boost insurance penetration and make coverage more affordable
 "Insurers hopeful of reduction in GST on health and life premiums")
GST overhaul: Most items to attract 5%, 18% tax; luxury goods may touch 40%
Nearly 99 per cent of items currently taxed at 12 per cent are expected to move to the 5 per cent slab, while most of the goods in the 28 per cent bracket would fall under the 18 per cent rate
 "GST overhaul: Most items to attract 5%, 18% tax; luxury goods may touch 40%")
India's tax reform needs more economic focus, less political manoeuvring
Over eight years later, GST has fallen short of expectations, prompting the government to appoint Home Minister Amit Shah to lead negotiations for its reform
 "India's tax reform needs more economic focus, less political manoeuvring")
India's net GST revenue rises 1.7% to ₹1.68 trillion in July; refunds surge
July's net GST kitty growth marks the slowest pace since last February from when disaggregated data on gross and net GST collections is available. In June, net GST revenues were up 3.3 per cent
 "India's net GST revenue rises 1.7% to ₹1.68 trillion in July; refunds surge")
Slabs, cess, and trade-offs: India's GST faces a fork in the road
With rate slabs ripe for consolidation and the compensation cess at a crossroads, India's GST revamp must balance political economy, revenue stability, and taxpayer fairness
How tax systems unfairly penalise even honest, hardworking taxpayers
The digital tax era promised ease - pre-filled returns, real-time data, and seamless reporting
 "How tax systems unfairly penalise even honest, hardworking taxpayers")
June e-way bills 2.6% lower than May, indicating possible GST moderation
Intra-state e-way bills stood at 78.85 million in June, while inter-state e-way bills were at 40.60 million during the month
 "June e-way bills 2.6% lower than May, indicating possible GST moderation")
Net GST receipt growth slipped sharply to 3.3% in June: Govt data
June's net revenues from the indirect tax, based on transactions carried out in May, were also impacted by the back of sharp 28.4 per cent rise in total refunds to ₹25,491 crore
 "Net GST receipt growth slipped sharply to 3.3% in June: Govt data")
Gross GST collections double in 5 years to record Rs 22.08 trillion in FY25
The average monthly collection stood at Rs 1.84 trillion in FY25, up from Rs 1.68 trillion in FY24 and Rs 1.51 trillion in FY22
 "Gross GST collections double in 5 years to record Rs 22.08 trillion in FY25")
Statsguru: As GST turns eight yrs old, need for reform push grows
The goods and services tax (GST), net of refunds, now yields close to ₹20 trillion to the exchequer - both the Centre's and states'
 "Statsguru: As GST turns eight yrs old, need for reform push grows")
We're the largest gig worker employer in the country: Rapido cofounders
We're currently in over 35 cities with taxis and aim to be present in every district headquarters, says Rapido
 "We're the largest gig worker employer in the country: Rapido cofounders")
