GST

Banerjee said that the wholesales in December are also expected to be good as the production team is working overtime to satisfy the high demand

Chaturvedi's service record shows that his deepest and longest experience lies in the Directorate of Revenue Intelligence (DRI)

GST 2.0, which levies a flat 40 per cent tax on luxury vehicles, has spurred renewed enthusiasm. Prices have fallen by 6-8 per cent

GST reduction from 12% to 5% on RE inputs qualifies as change in law; benefits must be passed through to buyers

Recent uncertainties created by global tariffs have not impacted the Indian economy severely, she said

LIC MD Ratnakar Patnaik urges the government to exempt insurance from GST to restore input tax credit and suggests raising the tax threshold for high-value insurance policies

MSME-focused e-commerce platforms have warned that ambiguity over GST treatment of local delivery and GTA services is creating compliance risks, potential double taxation, and operational disruptions

The GST rate cuts brought down retail inflation by 85 basis points to a record low of 0.25 per cent in October and the declining trend is likely to continue in the coming months, according to experts. The Consumer Price Index- (CPI-) based retail inflation was lowest in the current series (base year 2012), which captures data since January 2014. CPI inflation increased in case of personal care and effects, owing to higher gold prices, at 57.8 per cent, an SBI research report said, adding that if if the precious metal is excluded, headline CPI turns the print negative at -0.57 per cent year-on-year. "We believe, given the current trend, CPI, excluding gold, would remain negative even in the next two months," the 'SBI Ecowrap' said. GST rationalisation, which came into effect from September 22, has also led to reduction in CPI inflation. "We earlier estimated that CPI will moderate by 65-75 bps owing to GST. However, the decline in CPI inflation due to GST has been higher at around

Chief Economic Advisor (CEA) V Anantha Nageswaran on Friday exuded confidence that economic growth would be upwards of 6.8 per cent in the current financial year driven by consumption boost provided by GST rate cut and income tax relief. The Economic Survey tabled in parliament in January had projected real economic growth of 6.3-6.8 per cent for FY26. "Comfortable looking at a number north of 6.8 per cent now. My original range was 6.3 to 6.8 per cent (projected in Economic Survey). Back in August, we were all concerned about whether we would even go towards the lower end of the 6-7 range. "Now I think there is a lot of comfort in saying that it would be definitely north of 6.5 and I am more comfortable saying even north of 6.8 but whether I will put a 7 handle in front of it, I will wait for the second quarter numbers to come out before I move even a notch higher," Nageswaran said at CNBC-TV18's Global Leadership Summit 2025. India recorded a 7.8 per cent gross domestic product .

Credit card spending zoomed during the festival season, aided by a rationalisation of GST rates, with private lenders leading the way

Punjab has recorded a 21.51 per cent increase in net Goods and Services Tax collection up to October 2025, alongside a robust 14.46 per cent growth in October alone, Finance Planning, Excise and Taxation Minister Harpal Singh Cheema said on Sunday. He lauded the state's performance despite Punjab being hit by massive floods this year and the recent rationalisation of tax rates under GST 2.0. Giving the details of the growth, the Finance Minister said that the state collected Rs 15,683.59 crore in net GST from April to October 2025, compared to Rs 12,907.31 crore during the same period in the previous fiscal year (FY), with an impressive gain of Rs 2,776 crore. By contrast, the growth rate up to October 2024 in FY 2024-25 was a modest 3.80 per cent, he added in an official statement. The state's net GST collection for October 2025 stood at Rs 2,359.16 crore, marking a significant rise from Rs 2,061.23 crore in October 2024, registering Rs 298 crore increase that reflects the State's

Retail sales, however, outpaced wholesales as vehicles continued to move swiftly out of showrooms

Muted domestic mop-up reflects rate-cut impact, festive deferment; import GST boost cushions growth

British FMCG major Reckitt on Wednesday said implementation of new GST slabs in India impacted its net revenue growth in the September quarter. However, the company reported volume-led growth in its germ protection brand Dettol in markets, including India, which helped it grow by double digits in the quarter. Besides, in the Intimate Wellness category, its brand Durex continued to gain market share in India, Reckitt said in its earnings statement. "We continued to drive encouraging sell-out performance in India, whilst LFL net revenue growth (low single digit) was impacted by the GST regime change in September. This resulted in a shift of trade orders to Q4," said Reckitt. However, this short-term disruption, Reckitt said, its "like-for-like (LFL) net revenue growth in India remains high single digit through 2025 YTD. Reckitt operates in the Indian market with power brands, which include Lysol, Vanish, Strepsils, Veet, Dettol, Harpic, and Durex. Leading FMCG makers in India repor

The Centre said that the timing of the GST cuts just before the festival and wedding season proved ideal, boosting consumer sentiment across sectors

Sitharaman explained that while a few products witnessed a smaller-than-expected pass-through, overall, the rate cuts have effectively translated into lower prices for consumers

Tax reform expected to broaden insurance reach in the country, say experts

Officers of the Uttarakhand GST headquarters carried out a raid and unearthed a tax evasion racket worth over Rs 20 lakh several lakhs of rupees, allegedly run in collusion with joint commissioner-level officials. "The state tax headquarters had been constantly receiving information and complaints that transporters were bringing goods to Haldwani in the Kumaon region while evading taxes," a senior official from the headquarters said. "One of these transporters was also reported to have the patronage and support of a senior departmental officer at the level of joint commissioner," he said. Officials said that this hindered any major action against this transporter at the local level. The state GST headquarters, then, decided to take action against the transporters on its own. "Teams from Rudrapur raided two transport companies in Haldwani early this week," sources said. They added that in a highly confidential manner, under heavy police security, two departmental teams from outside

Implementation of new GST slabs to lower the duty has resulted in some short-term adjustments across trade in the domestic market, Godrej Consumer Products Ltd (GCPL) said while projecting a 'low-single digit' volume growth on a standalone basis in the September quarter. The GST rate reductions have resulted in some short-term adjustments across trade channels, as distributors and retailers focused on liquidating existing inventories, said Godrej Consumer in its quarterly updates. This has delayed the flow of new orders and temporarily deferred consumer purchases, impacting both growth and profitability, the FMCG business of Godrje Industries Group added. "Consequently, our Standalone business is expected to deliver mid-single digit value growth, supported by low-single digit UVG," it said. However, GCPL, which markets brands as Cinthol, Godrej No1, Good Knight and HIT, said the government's recent GST reforms represent an 'encouraging step' towards strengthening consumer ...

However, one of the officials said the judgment is based on the earlier anti-profiteering framework, which is not applicable under GST 2.0, rolled out on September 22