Page 2 - Gst Cuts

GST reforms a mini budget; market risk greater in mid, smallcaps: S Naren

The current market cycle, Naren said, does not resemble earlier periods. Today, the macroeconomic situation is extremely strong, which was not the case in the past

Hero MotoCorp, Royal Enfield to reduce prices to pass on GST cut benefits

Two-wheeler maker Hero MotoCorp on Wednesday said it will cut prices of its various models by up to Rs 15,743 to pass on the full benefit of the GST rate reduction to customers. The new pricing will be effective from September 22, Hero MotoCorp said in a regulatory filing. Customers can now avail price benefits of up to Rs 15,743 on select models (ex-showroom Delhi), making motorcycles such as the Splendor+, Glamour, Xtreme range and scooters like the Xoom, Destini and Pleasure+ even more accessible, it added. Welcoming the GST rate reduction, Hero MotoCorp CEO Vikram Kasbekar said the government's next-gen GST 2.0 reforms will boost consumption, empower GDP growth, and accelerate India's journey to a USD 5 trillion economy. "In addition, more than half of the Indian households use two-wheelers for their daily needs, making it critical for mass mobility," he said, adding that the timing is opportune and ahead of the festive season. It makes two-wheelers more affordable and accessi

Auto stocks drive ₹3 trillion market capitalisation surge on GST cut

Tax cuts drive auto stocks higher as Maruti, Eicher, and TVS surge; analysts expect festival season demand to lift sales and profits across India's automobile sector

M&M cushions dealers from cess blow; others likely to follow suit

M&M has offered relief to dealers against cess losses while GST 2.0 led buyers to defer purchases, with overall August auto retail sales up 2.84% year-on-year, FADA said

Nissan Motor cuts Magnite prices by up to ₹1 lakh to pass on GST benefits

Nissan Motor India on Monday said it has cut prices of its compact SUV Magnite by up to Rs 1 lakh to pass on the GST rate cut benefit to customers. The revised pricing will be effective on all deliveries made on or after September 22, 2025, coinciding with the first day of Navratri, the automaker said in a statement. However, customers can start booking at the new prices immediately across all authorised Nissan dealerships nationwide, it added.

Audi India announces price cut to over ₹7.8 lakh to pass on GST benefits

German luxury car maker Audi on Monday announced a price cut ranging from Rs 2.6 lakh to over Rs 7.8 lakh in its vehicles in India across models to pass on the benefits of the GST rate cut on automobiles. Audi India has revised prices across its product portfolio following the implementation of GST 2.0, the company said in a statement. Subsequently, the benefits to customers range from Rs 2.6 lakh to over Rs 7.8 lakh, depending on the model, it added. Under the new prices, the company's entry SUV Q3 will start at a price of Rs 43.07 lakh, down from Rs 46.14 lakh earlier. Similarly, top top-end SUV Q8 will have a starting price of Rs 1.1 crore, down from Rs 1.18 crore earlier. Prices of other models, such as SUVs Q5 and Q7, along with sedans A4 and A6, have also been reduced. "The updated prices make Audi's range of luxury cars and SUVs more accessible, adding momentum to customer demand ahead of the festive season," the company said.

GST council's tax simplification move to make taxation 'transparent': IOB

The GST council's decision to simplify the tax structure would make taxation more 'transparent' and boost consumption over 8-10 per cent in rural markets, a top official of public sector Indian Overseas Bank said on Sunday. The Bank's Managing Director and CEO Ajay Kumar Srivastava said there would be an increased demand across retail, micro, small and medium enterprises and agricultural segments as incomes rise and investments pick up. "The GST Council's decision to simplify the tax structure from the current four slabs -- 5,12,18 and 28 per cent, to a two-rate structure 5 and 18 per cent will make taxation more transparent and easier to follow," Srivastava said in a press release. "We expect these measures will drive an estimated growth in consumption over 8-10 per cent in the next two quarters in rural markets, particularly benefitting farmers through reduced costs on agricultural products where GST has been brought down from 12 per cent to 5 per cent," he said. He underlined th

PM Modi's nudge ushered in biggest GST reform in 8 years: Sitharaman

'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses. Sitharaman, who, along with her team, began work to identify anomalies in the present four-tier structure and compliance issues faced by businesses, was once again reminded by the Prime Minister when she was preparing the Budget for the 2025-26 fiscal year. 'Aap GST ke upar kar rahi ho na kaam?' Modi had inquired. Her discussion with the Prime Minister led Sitharaman to begin work on reviewing everything in GST - not just rates and tax slabs but how to make the regime more friendly for businesses, particularly small and medium businesses. In an interview with PTI, Sitharaman recalled the parallel works that happened - from overhauling the

New GST reforms to cause ₹3,700 cr revenue loss to govt: SBI report

The State Bank of India (SBI) in its latest research report said that reforms in GST through reduction in rates will cause a minimal revenue loss of Rs 3,700 crore. The government estimates the net fiscal impact of GST rates rationalisation will be Rs 48,000 crore on an annualised basis. According to the report, given the growth and consumption boost, the minimal revenue loss is estimated at Rs 3,700 crore and will have no impact on the fiscal deficit. At the 56th meeting of GST Council held few days ago, the current four-tier structure has been replaced with a two-tier one, with a standard rate of 18 per cent and five per cent, and de-merit rate of 40 per cent on selected few goods and services. The report said that the GST rate rationalisation will largely have a positive impact on the banking sector due to meaningful cost efficiencies. GST rate rationalisation has also brought down the effective weighted average rate from 14.4 per cent at the time of inception in 2017, which is

GST cuts boost auto sector, dealers hope for quick cess resolution

Auto dealers expect a boost in the second half of FY25 following GST cuts on vehicles and parts, which aim to improve affordability

Companies expect demand boost after 10% GST cut on AC, TV, dishwashers

Electronics and appliances industry may close the year with 20% growth, says one executive

GST cut makes cars, bikes, tyres cheaper, Diwali comes for Auto Inc

GST Council cut rates on small cars, bikes, SUVs and tyres, slashing levies to 18% and rationalising slabs, a move hailed as transformative for the auto industry

FMCG firms plan to offer more grammage for same price after GST reforms

FMCG players plan to cut prices of large packs and raise grammage in smaller packs as soaps, noodles, coffee, ghee and ice cream get cheaper under new GST rates

Industry must pass on benefits of GST rate cut to consumers: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal on Thursday described the reduction in GST rates as "game-changing" and the "biggest reform" since independence, as he asked the industry to pass on the full benefit to consumers. The minister said the GST reforms would boost demand in almost all sectors and support the economic growth of the country. He also asked the industry to promote Made in India in a big way. Addressing an event here, the minister said the reduction in GST would benefit every consumer. "Yesterday's reform in indirect taxes in GST, coming on the back of several initiatives over the last 11 years, is transformational in nature, significantly impacting the pharma sector, significantly impacting so many sectors, right from the farmer until our MSMEs," he said. "Every stakeholder in the country, every consumer, stands to benefit," Goyal added. Terming the GST reforms as "game-changing", the minister said the move would play an important role in the months and ye

GST cut makes small cars cheaper: Latest loan rates of various banks

Lower taxes and competitive loan rates mean people planning to buy cars can save money in September

Salon, gym, yoga centre services to get cheaper after GST slashed to 5%

Salon and fitness bills are likely to get cheaper as the GST rate on beauty and physical well-being services, including those at health clubs, salons, barbers, fitness centres, yoga, etc, has been slashed from 18 per cent with Input Tax Credit (ITC), to 5 per cent without tax credit. Also, daily use products like hair oil, toilet soap bars, shampoos, toothbrushes, toothpaste, too, are likely to get cheaper as taxes on them have been cut to 5 per cent from 12/18 per cent currently. The new Goods and Services Tax (GST) rate will be effective from September 22. As part of the rate rationalisation exercise at the 56th meeting of the GST Council, the Centre and states consented to reduce GST from 18 per cent to 5 per cent on beauty and physical well-being services used by the common man, including services of gyms, salons, barbers, yoga centres, etc. Other daily use items like talcum powder, face powder, shaving cream and aftershave lotion, too, could see the reduction in prices as GST

Milk to medicines: GST cut could save your family over ₹15,000 a year

From groceries and toiletries to life-saving drugs, new rates of consumption tax will help household budgets

TVs, ACs, dishwashers GST cut may brighten Diwali for consumer electronics

GST Council has reduced rates on TVs, ACs and dishwashers to 18% from 28% which may boost consumer demand ahead of Diwali

Cong terms GST overhaul 'GST 1.5'; says wait for 'true GST 2.0' continues

With the GST Council approving a complete overhaul of the Goods and Services Tax (GST) regime, the Congress on Thursday termed it a "GST 1.5" and said time alone will tell whether it would stimulate private investment as well as ease the burden on MSMEs. The opposition party asserted that the wait for a "true GST 2.0" continues. Congress general secretary in-charge communications Jairam Ramesh said that a key demand of the states made in the true spirit of cooperative federalism '? namely, the extension of compensation for another five years to fully protect their revenues'? remains unaddressed. In fact, that demand assumes even greater importance now, he said. The Indian National Congress has for long been advocating for a GST 2.0 that reduces the number of rates, cuts the rates on a large number of items of mass consumption, minimises evasion, mis-classification, and disputes, does away with inverted duty structure '? lower tax on output as compared to inputs '? eases the complia

'Resist chasing rallies, stay disciplined, and let compounding work'

India's consumption story remains the most reliable theme for the next decade, says Inderbir Singh Jolly, chief executive officer at PL Wealth Management in an exclusive interview