Latest Updates on GST Revamp

GST reforms from Nov 1: Faster refunds, easier registration for sellers

Simplified GST registration for small sellers on e-commerce platforms, unified documentation for GST registration, faster refunds, and a Rs 10,000 threshold for issuing GST notices are some of the Goods and Services Tax process reforms that are likely to be rolled out from November 1, an official said on Thursday. The 57th GST Council meeting on October 8 approved a host of reforms in GST processes, primarily covering registration, returns, refund and adjudication. Officials said some of the changes approved by the Council that can be implemented through administrative processes will be brought into effect in phases from November 1, 2026. The changes which require an amendment to the GST law would be implemented from April 1, 2027. The notifications and circulars on the relevant process reforms have already been approved by the legal department and are likely to be issued on Friday, an official said. The Council's decisions on simplified GST registration for small sellers on ...

GST relief not enough to make health insurance affordable, say experts

Business Standard BFSI Insight Summit 2026: Experts said GST relief has eased premiums, but high medical costs, underinsurance, and a trust deficit remain key barriers to wider coverage

​LTCG tax cut alone won't lure FPIs, says Bernstein; Nifty target cut to 25k

A sharp 1-2 day market rally that an LTCG cut would trigger may actually be used to offload positions, Bernstein said in an October 19 note.

Best of Opinion: More rate hikes imminent as RBI revises policy cycle

From the RBI's shift to calibrated tightening and health-insurance copayments to India's tax reform journey, aviation security, today's opinions examine policy trade-offs and institutional change

Best of Opinion: Will GST Council meet give process reforms a push?

From India-US trade negotiations and Maharashtra's drought to GST simplification and public-capital governance, today's pieces examine policy trade-offs and institutional capacity

One year of GST rate reset: Where is India's tax revenue coming from?

GST collections have remained resilient after the 2025 rate reset, but the recovery has been uneven, with imports driving more growth while refunds weigh on net revenue

Reforms on the cards: GST Council likely to shun mid-year rate changes

Officials expect the rate structure to be reviewed only once a year henceforth, and any changes will take effect from April 1, not in the middle of the financial year

GST 2.0 demand boost prompts Maruti Suzuki to accelerate capex plans

Car market leader Maruti Suzuki India is accelerating its capital expenditure plans amid a sharp increase in passenger vehicle demand following the GST 2.0 rationalisation, MD and CEO Hisashi Takeuchi said on Tuesday, as the tax reform completes one year. The company's passenger vehicle sales grew about 36 per cent year-on-year during April-August 2026, while sales in the entry segment surged over 96 per cent during the period, Takeuchi said. "A year ago, the landmark GST reform gave fresh impetus to India's growth journey. At Maruti Suzuki, passenger vehicle sales grew about 36 pc year-on-year during Apr-Aug'26. We are particularly encouraged by the entry segment's growth of over 96 per cent, where improved affordability has brought mobility closer to many more people," Takeuchi stated in a post on X. He said this demonstrates the power of the Indian consumer and the importance of affordability. "When domestic industry catches scale and competitiveness, more global business ...

Best of BS Opinion: Time to rethink Tata Sons, Tata Trusts relationship

Today's pieces examine Tata Sons' governance, India's compliance maze, the next phase of GST reforms, West Bengal's investment record and a book on entrepreneurial failure

GST rationalisation for hotels, restaurants can boost tourism: SOTC CEO

Further rationalisation in goods and services tax (GST) on domestic hotels and restaurants could help fuel tourism growth in India, even as the country's travel market continues to grow despite global uncertainties, according to SOTC Travel Managing Director and CEO Vishal Suri. The GST Council had last year reduced GST on hotel rooms with tariffs of up to Rs 7,500 per night to 5 per cent from 12 per cent, without input tax credit, to make accommodation more affordable and support tourism. The new rates came into effect from September 22 last year. Suri said the government's decision to reduce the tax collected at source (TCS) on overseas tour packages to a uniform 2 per cent was a positive step for the industry. "The government has already reduced TCS on overseas tour packages to 2 per cent (uniform rate) and can further consider GST rationalisation on domestic hotels & restaurants," Suri told PTI in an interview. He said tourism has the potential to emerge as a major contributor

West Asia tensions likely to heighten fiscal risks, says Govinda Rao

Economist M Govinda Rao warns rising geopolitical tensions could expose India's fiscal vulnerabilities, calling for reforms in GST, deficits, and public spending

GST tailwinds revved up January PV wholesales 12.6% to 455,000 units

Domestic passenger vehicle wholesales rose sharply in January, supported by GST tailwinds and improved demand, though automakers flagged production constraints and rising cost pressures

Gross GST collection rises 6.2% to over ₹1.93 trillion in January

Gross GST collections rose 6.2 per cent to over Rs 1.93 lakh crore in January, mainly on higher revenues from imports, sources said on Sunday. Total refunds declined 3.1 per cent to Rs 22,665 crore. Net Goods and Services Tax (GST) revenues, however, grew 7.6 per cent to about Rs 1.71 lakh crore in January. Cess collection (from tobacco products) in January stood at Rs 5,768 crore. This compares to Rs 13,009 crore in collections in January last year when a cess was levied on luxury, sin and demerit goods such as cars, and tobacco products. Effective September 22, 2025, GST rates on about 375 items were slashed, making goods cheaper. Also, a compensation cess is levied only on tobacco and related products, as opposed to luxury, sin and demerit goods earlier. The lowering of GST rates has impacted revenue collections. Gross tax collections from domestic transactions grew 4.8 per cent to Rs 1.41 lakh crore, while import revenues were up 10.1 per cent to Rs 52,253 crore in January.

PSBs are setting benchmarks for the India's BFSI sector, says M Nagaraju

Any future public-sector bank consolidation must carefully weigh the pros and cons, including whether it will deliver meaningful synergies, says Nagaraju

Too early to say small car demand will sustain GST cuts: Ceat MD & CEO

Overall consumer trend still is towards buying SUVs and it is too early to say if the rise in demand for small car witnessed by automobile manufacturers in GST 2.0 era will be sustained, according to tyre maker CEAT Ltd MD and CEO Arnab Banerjee. The company is maintaining its guidance for a double digit growth for the ongoing fiscal although GST 2.0 has provided an impetus, and it is looking to tap rural markets, specially for farm and two-wheeler tyres, Banerjee told PTI. "It is too early to say... Overall consumer trend still is towards buying SUVs," Banerjee said when asked about the continuation of the impact of GST 2.0 in the passenger cars segment, specially rise in small car demand. In the last few years, SUV sales have driven passenger cars segment and small cars sales have declined due to affordability issues. In 2025, SUVs continued strong traction going up to 55.8 per cent of total PVs sold in India from 53.8 per cent in 2024, even as small cars showed signs of recovery

Ceat Q3FY26 results: Profit soars 60% to ₹156 crore, revenue up 26%

Ceat's profit, however, slumped 16.2 per cent sequentially due to costs related to the implementation of new labour codes and an exceptional-item profit in Q2FY26

ICICI Sec upgrades HUL to 'Buy' on GST-led volume, premium growth outlook

ICICI Securities identified four key growth levers for HUL. First, demand for large-pack units in personal care categories has shown strong responsiveness to lower prices following GST cuts.

Explained: How tax regime on tobacco has changed in India since 2014

As the Centre scraps the GST compensation cess, here is how India's tobacco tax structure has evolved over the past decade

Why is Centre bringing back excise on tobacco after GST cess ends

The government said that tobacco products will continue to attract GST but will also be subject to additional excise duty on top of that tax from February 1

Cooling appliances to get costlier as BEE star ratings norm changes

Prices of cooling appliances such as room air conditioners and refrigerators may go up 5-10 per cent from January 1, 2026, as the new revised star rating from the Bureau of Energy Efficiency (BEE) comes into force. This hike, which will be applicable from January 1, 2026, will almost offset the price advantage which the consumers have got from the GST reforms in September this year on room air-conditioners (RAC), where duty was slashed 10 per cent. Besides the fall of the Indian rupee against the US dollar and global increase of copper prices is also putting pressure on manufacturers' margins. Despite this, leading manufacturers such as Voltas, Daikin, Blue Star, and Godrej Appliances are unfazed and expect this to help to keep the carbon footprints lower. The new 5-star AC under the new revised BEE norms is 10 per cent more energy efficient; however, it will also increase the prices by around 10 per cent, said Blue Star Managing Director B Thiagarajan. "New 5-star is a new produc