Page 5 - Latest Updates on Goods and Services Tax
A GST reset: Simplify the tax structure to boost revenue collection
Prime Minister Narendra Modi had announced in his Independence Day address that the GST system would be rationalised
 "A GST reset: Simplify the tax structure to boost revenue collection")
Next gen GST reforms will set economy open and transparent: Sitharaman
Sitharaman urged banks to boost credit, support infrastructure, fund MSMEs, bring the unbanked into formal banking, and meet diverse financial needs for Viksit Bharat 2047
 "Next gen GST reforms will set economy open and transparent: Sitharaman")
GST 2.0 should pave way towards single nationwide tax rate: Report
The report titled 'GST 2.0: Two Slabs Today, One Rate Tomorrow', strongly recommended pegging the peak indirect tax rate, including cesses, to 18 per cent
 "GST 2.0 should pave way towards single nationwide tax rate: Report")
GST Council meet should promote federalism, not just grab headlines: Cong
The Congress leader stressed that these demands are perfectly legitimate and are bolstered by recent papers published by the Union Finance Ministry's own NIPFP
 "GST Council meet should promote federalism, not just grab headlines: Cong")
Stock market declines for 2nd month as US tariffs weigh on sentiment
Sensex and Nifty fell for a second month as US tariffs hit sentiment, though GST reform hopes and rating upgrade cushioned the slide
 "Stock market declines for 2nd month as US tariffs weigh on sentiment")
Oppn states demand compensation for revenue loss due to GST reform proposal
Finance ministers from 8 states- Himachal, Jharkhand, Karnataka, Kerala, Punjab, Tamil Nadu, Telangana and Bengal- decided to present their proposal to the GST Council at the next meeting on Sept 3, 4
 "Oppn states demand compensation for revenue loss due to GST reform proposal")
Festival season cheer on hold as auto buyers await GST relief and discounts
Festival offers are already running with benefits between ₹1.5 lakh and ₹2 lakh on some models
 "Festival season cheer on hold as auto buyers await GST relief and discounts")
Private capex now substantial in order book: L&T chief S N Subrahmanyan
L&T eyes growth with record orders, rising private capex, $100 bn valuation, global projects, and a new strategy focusing on services, tech, and financial businesses
 "Private capex now substantial in order book: L&T chief S N Subrahmanyan")
States rejig policies, seek Centre's help to counter Trump tariffs
From Andhra to TN and Gujarat, states fear heavy biz losses
 "States rejig policies, seek Centre's help to counter Trump tariffs")
GST 2.0 could boost consumption, but does little to fix deeper weaknesses
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy
GoM backs GST rejig; states flag risk to revenue ahead of Council meet
GST Council likely to take up proposal in September; rate cuts expected in October
 "GoM backs GST rejig; states flag risk to revenue ahead of Council meet")
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
'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