GST Council

Parliament passes Central Excise (Amendment) Bill 2025

The GST Council has kept the special composition scheme for bricks unchanged, retaining 6% without ITC and 12% with ITC, with a Rs 20 lakh threshold, under GST 2.0

The GST Council recently cut tax rates on sub-350cc two-wheelers and three-wheelers from 28 per cent to 18 per cent, effective September 22, 2025

At present, dealers have an inventory of around 600,000 vehicles, which were loaded up in anticipation of the festival rush

Rate rationalisation is welcome, but more work is needed to eliminate cascading taxes

Barring a dozen-odd items, almost all goods and services are being clubbed under two slabs - 5 per cent and 18 per cent

Simplifying the GST structure is not the only reform on the government's agenda.

The GST Council's efforts at rationalisation have steadily lowered the system's complexity while sustaining revenue buoyancy

MG Motor said it will extend the full benefit of the GST reduction across its SUV portfolio, with price cuts ranging from ₹54,000 to ₹3,04,000, effective from September 7

Hyundai, Tata Motors, Mahindra, Maruti and Renault have announced steep cuts across cars and CVs, with reductions ranging from ₹30,000 to ₹4.65 lakh from September 22

According to another official, Finance Ministry is eager to re-examine certain sectoral issues if directed by the Prime Minister's Office

Such changes have received sufficient media coverage, and so, I will focus more on certain other aspects

One of the best ways to judge the impact of any policy is to check its effect on stock prices of companies, supposedly benefiting

To ensure the 56th GST Council is remembered as the most transformative since 2017, the proposed changes must be implemented in spirit, and what must happen next for promises to become policy

Benchmark indices end the week higher, posting their best gains in over two months, with optimism from GST reforms on everyday goods

CBIC Chairman Sanjay Kumar Agarwal said the scheme will cover both central and state jurisdictions, and apply in cases where applicants are assessed to be low-risk

Policyholders may delay their insurance purchases using the free look period option to benefit from the nil GST on premiums, effective from September 22

GST Council amends rules on post-sale discounts to allow credit notes without invoice linkage, a change experts say will reduce litigation and benefit businesses

GST Council's two-rate tax structure to cut vehicle prices by up to 10%, supporting festive auto sales for two-wheelers, small cars, and compact SUVs

This courageous move signals the emergence of a stronger economy, clearly indicating that India is firmlyset on a path of progress and growth