Page 5 - Goods And Services Tax

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

States rejig policies, seek Centre's help to counter Trump tariffs

From Andhra to TN and Gujarat, states fear heavy biz losses

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

The GoM of state finance ministers endorsed the Centre's proposal for a two-tier GST structure with 5 and 18 per cent slabs and a 40 per cent levy on sin and luxury goods

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

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

Equities, rupee sparkle on 'double Diwali' promise; bonds flicker

Sensex gained 676 points and Nifty 246 as GST reform and S&P's sovereign rating upgrade boosted investor sentiment, lifting market cap of BSE firms by ₹6 trillion

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

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.

Two-slab 'Next Gen GST' to pay way for single tax rate by 2047: Centre

Describing the proposed GST tax reforms as Next Gen GST', senior government officials on Saturday said that the two-slab tax regime will eventually pave the way for a single sales/services tax rate, hopefully by 2047. They said the proposed new GST regime, which slashes tax rates and assigns just two slabs of 5 per cent and 18 per cent, will boost the economy and also serve to mitigate tariff threats. 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. Calling it the "next Gen GST', one government official said "it is a game changer reform. In the pantheon of economic reforms seen in India, it's right up there." The officials spoke on condition of anonymity. They said the new structure would mean that almost all of the common use items will move to the lower tax bracket, leading to price cuts, which in turn would boost consumption. "Lower

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

Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax: Cong

The Congress Saturday demanded an official discussion paper on GST 2.0 soon for a wider debate on it and said the reform should be towards a "Good and Simple Tax" in letter, spirit, and compliance, and not the "Growth Suppressing Tax" it has become. The opposition party's assertion came a day after Prime Minister Narendra Modi announced that GST rates will be lowered by Diwali, bringing down prices of everyday use items, as his government looks to reform the eight-year-old regime that has been plagued by litigation and evasion. 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. Noting that a transformed GST 2.0 was a key pledge in the Congress manifesto for the 2024 Lok Sabha elections, Ramesh on Friday said the prime minister seems to have finally woken up to the fact that economic growth will simply not accelerate unless this transformation takes

'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

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

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

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 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

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

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