Goods And Services Tax

Emkay Research points out that GST cuts have boosted consumer sentiment, and growth benefits are likely to be visible going ahead

The Centre projected a net revenue loss of about ₹47,000 crore due to GST rate rationalisation, even as higher taxation on select goods was expected to partly offset the impact

Market participants said the decision to double the VRR amount was due to outflows due to advance tax and goods and services tax (GST) collections, expected to be Rs 2 trillion

Life insurers have formed committee to discuss the capping of distributor commission

The rollout of GST appellate tribunal benches is likely to miss the December deadline as staffing gaps and infrastructure delays stall operations, leaving lakhs of tax disputes unresolved

Parliament clears the Manipur GST amendment, aligning the state with national GST reforms, including track-and-trace, simplified voucher rules, clarified definitions and uniform appeal procedures

The headline HSBC purchasing managers index (PMI) figure, compiled by S&P Global, for November fell sharply to 56.6 from 59.2 in October

Other macro indicators give mixed signals; car sales stay strong

Finance Minister Nirmala Sitharaman is expected to introduce two Bills to replace the GST compensation cess on tobacco and pan masala with new levies designed to fund national security

The government is likely to introduce two bills in the Lok Sabha to replace GST compensation cess with another levy, to ensure that the tax incidence remains the same on tobacco, pan masala and other sin goods after discontinuation of the cess. The Central Excise Amendment Bill, 2025, and The Health Security se National Security Cess Bill, 2025, are listed for introduction on Monday by Finance Minister Nirmala Sitharaman. According to sources, the Central Excise Amendment Bill, 2025, will replace GST compensation cess on tobacco by levying excise duty on tobacco. The 'Health Security se National Security Cess Bill, 2025', will replace the compensation cess on pan masala. It seeks to "augment the resources for meeting Security expenditure on national security and for public health, and levy a cess for the said purposes on the machines installed or other processes undertaken by which specified goods are manufactured or produced". Currently, Goods and Services Tax (GST) at 28 per cent

The GST rate rationalisation gave a "measurable" boost to consumption, and the Indian economy is on a stable footing to navigate risks and maintain growth momentum through the current fiscal, a finance ministry report said on Thursday. The Finance Ministry's Monthly Economic Review for October said that with inflationary pressures easing and recent tax reforms boosting household disposable incomes, the near-term consumption outlook appears increasingly positive. Retail inflation has reached an all-time low in the current series, dropping to 0.25 per cent in October 2025, down from 1.44 per cent in September 2025. The decline can largely be attributed to the complete impact of reduced GST rates, a favourable base effect, and significant falls in food inflation, the ministry said. "The rationalisation of GST rates has provided a measurable boost to consumption, as reflected in the strengthening of high-frequency indicators, including higher e-way bill generation, record festive-seaso

Leaders called Bima Sugam a tool for transparency, affordability and inclusion

Sales growth in Indian FMCG sector slowed to 5.4 per cent in volume during September quarter mired by disruptions due to GST rate changes, though value growth jumped to 12.9 per cent, according to the latest report from data analytics firm NielsenIQ. The rural market also slowed down from 8.4 per cent to 7.7 per cent year-on-year, but continued to outpace the pace of sales in urban areas for the seventh consecutive quarter, the report said. "The market recorded a 5.4 per cent rise in volume alongside a 7.1 per cent increase in prices, with unit growth outpacing overall volume growth signalling a stronger consumer preference for smaller packs," it said. Urban market, which forms bulk of fast-moving consumer goods (FMCG) demand, is recovering moderately, particularly in smaller towns. Sequentially, it experienced slowdown. Rural market, which is of small packets, is driven by affordability, accounts for around 38 per cent of the FMCG demand. "Rural India has recorded a 7.7 per cent

FMCG volumes eased to 5.4% in Q2 as GST transition caused a brief slowdown, though rural markets continued to outpace urban areas and overall sector growth stayed strong at 12.9%

Deepak Sood says zero GST on life and health insurance has sparked strong growth, with demand set to accelerate in H2FY26 as the industry pushes for deeper penetration and better distribution

NIPFP pegs India's FY26 GDP growth at 7.4% - higher than RBI's 6.8% forecast - citing GST reforms, robust investment, and strong US economic performance

Twenty of India's 36 states and UTs saw GST revenue decline in October 2025 - the weakest month of FY26 - as businesses adjusted to the GST 2.0 rate cuts implemented in late September

At the Business Standard BFSI Insight Summit 2025, insurance leaders said GST waiver alone will not boost coverage; better awareness, innovation and risk management are key to sector growth

The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs

Tobacco products currently fall under the highest GST slab of 28 per cent, along with a compensation cess that varies depending on the product type