Page 10 - Latest Updates on GST Revamp

FMCG firms may shift to new GST regime without changing current price tag

The govt could allow discounts to be reflected in the invoice during the transition

Spinny cuts used car prices ahead of GST change, up to ₹2 lakh off

Spinny has reduced used car prices ahead of GST reforms from September 22, offering buyers up to Rs 2 lakh savings and sellers up to Rs 20,000 higher resale benefit

GST 2.0 promises relief on many fronts, but unfinished agenda persists

Despite the sweeping rate and slab reductions, several issues remain unresolved and need to be tackled in the next round of reforms to make GST more viable for businesses, say experts

GST reforms infused ₹2 trillion in Indian economy: Nirmala Sitharaman

The finance minister also said the GST revenues grew to ₹22.08 trillion in 2025 from when it was introduced

Govt notifies revised CGST rate schedules, effective September 22

The Finance Ministry has notified revised CGST schedules covering seven categories of goods, effective September 22, with States set to issue matching SGST notifications

Ranbir Kapoor's ARKS targets ₹36 cr in FY26, to add 2 stores in 2025

Ranbir Kapoor's ARKS aims for Rs 36 crore revenue in FY26, with two new stores, SKU expansion, a fragrance line and plans for global shipping to boost its premium fashion brand

'Mid, smallcaps expensive, but smart stock picking can generate alpha'

With Dussehra and Diwali in October 2025, followed by the wedding season, we expect the benefits of pent-up demand to be fully captured during Q3FY26, says Agrawal

No need to relabel existing medicine stock: FinMin on new GST rates

Finance Ministry clarified that medicines released before Sept 22 need not be recalled or relabelled under GST 2.0, with compliance ensured via revised price lists at retail level

FMCG majors cut prices as firms pass on GST benefit to consumers

Mother Dairy, Hindustan Unilever and others announced price cuts across dairy, foods, ice creams, soaps and shampoos, as GST benefits are passed on to consumers from September 22

GST rejig: No input tax credit for insurers on brokerage, CBIC clarifies

The CBIC has clarified that taxes paid on inputs like brokerage and commission for individual life or health insurance policies cannot be claimed as ITC

Commerce ministry tells retailers to highlight discounts from GST rate cuts

The commerce and industry ministry has directed physical retail chains to prominently display and advertise discounts due to the recent GST rate rationalisation. In a communication to the Retailers Association of India, Department for Promotion of Industry and Internal Trade (DPIIT) said retailers should reflect the GST reduction in the receipt / bill as GST discount and major focus be given on high impact products. "Prominently display and advertise 'Discount due to GST' through their networks. For example - posters / flyers and ads (print, TV and online) through their own retail networks," it said. The department has also suggested that sales figure be monitored during this festive season and highlighted through various channels. Nearly 400 products - from soaps to cars, shampoos to tractors and air conditioners - will cost less when the rejig of the GST is effective from the first day of Navaratri on September 22. Starting September 22, the GST slab structure will change - 5 pe

FIIs under-own India; consumption next rally driver: LKP Sec's Ashwin Patil

India remains under-owned: FIIs hold 19 per cent of equities, lagging emerging market averages and FIIs have broadened exposure into small-and mid-caps

Govt proposes tax exemption of up to 20 years for data centre developers

Incentives in Meity's draft include GST input tax credit on assets

UBL targets 6-7% growth this year, bets on GST reforms to boost demand

Leading beer maker United Breweries Ltd (UBL) expects a 6 to 7 per cent volume growth this fiscal despite the impact of rains in some of the key states during the second quarter, said its Chief Executive Officer and Managing Director Vivek Gupta. Besides, premiumisation is also expected to grow by 25 per cent and the long-term outlook for UBL, now controlled by Dutch multinational brewing company Heineken NV, is "very strong", Gupta told PTI. He expects recent GST reforms, in which the government is lowering the taxes on most consumer goods and some services, effective from September 22, will also help increase the consumption of alcoholic beverages. However, this will also depend on state governments. If they "work objectively, where they do not just increase taxes (excise) because they feel about a revenue shortfall coming of GST (changes), I think it should help in consumption of Alco-Bev because consumers will spend money on coming together, connecting together, going outside, .

Hyundai looks at 'double engine' boost on growth post GST rate cut

With the GST rate cuts expected to bring domestic sales back on a growth path, Hyundai Motor India Ltd is looking to ride on a 'double engine' drive of accelerated sales in the home market and continued momentum in exports, according to a top company official. In the last six to eight months, when the domestic market was slightly sluggish, the company had pressed the accelerator on exports in contrast to the last few years when the focus was on meeting demand in India due to capacity constraints, Hyundai Motor India Ltd (HMIL) Whole-time Director and Chief Operating Officer Tarun Garg said in an interaction. The company's domestic sales in the April-August period this fiscal were down 11.2 per cent at 2,20,233 units as against 2,47,992 units in the same period last fiscal. On the other hand, exports in the April-August period this fiscal grew by 12.45 per cent at 80,740 units as compared to 71,800 units in the year-ago period. "We have been very strong in export, but in the last fe

CBIC clarifies GST on post-sale discounts, no ITC reversal for buyers

The circular also stated that post-sale discounts given by manufacturers to dealers would not be treated as consideration for services

NPPA asks pharma firms to pass on GST rate cut benefits from Sept 22

The National Pharmaceutical Pricing Authority has asked pharmaceutical companies and medical device makers to pass on the benefit of reduced GST rates to consumers with effect from September 22. "The benefit of reduction in GST rates shall be passed on to consumers/patients effective from September 22, 2025. All the manufacturers /marketing companies selling drugs/formulations shall revise theP of drugs/formulations (including medical devices) accordingly, with effect from September 22," the authority said in an order. The manufacturer and marketing companies shall issue a revised price list or supplementary price list to the dealers, retailers, state drug controllers and the government, reflecting the revised GST rates and revisedP, the National Pharmaceutical Pricing Authority (NPPA) stated. Manufacturer and marketing companies shall take immediate measures to sensitise dealers, retailers, and consumers about the reduction in GST rates through all possible channels of communicatio

Govt seeks monthly reports on pricing after GST rate cuts from Sep 22

In the circular, which is seen by Business Standard, the CBIC directed principal chief commissioners to compile commodity-wise price data from trade associations

Insurance policy renewals see delay ahead of GST reforms' implementation

Fresh issuances stay steady as customers weigh renewal options before GST reform

Major ecommerce firms complete tax-system overhaul ahead of festival season

Companies update platforms, train sellers on new tax codes