Page 12 - Latest Updates on GST Revamp

After cutting slabs and rates, GST Council must pursue deeper reforms

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

GST reforms to boost consumption but limit fiscal consolidation: Moody's

Moody's says GST rate cuts will boost consumption and ease inflation but warns of higher revenue loss, fiscal strain, and weak debt affordability for India

Life insurers' new biz premiums fall 5.2% in Aug as LIC drags growth

New business premiums of life insurers fell 5.2% YoY in August to Rs 30,959 crore as LIC posted a sharp decline, while private insurers recorded double-digit growth

Stock Market Highlights: Sensex ends 314 pts higher, Nifty at 24,869 led by IT shares; Infy jumps 5%

Sensex Today | Stock Market Close, September 9, 2025: The Nifty IT index surged 2.7 per cent on Tuesday led by strong buying in Infosys after the company said it shall consider share buyback.

Automakers asked to display GST price posters at all dealerships

Executives at automobile firms are now getting posters designed and sending them to the ministry for approval before sending them to print for display

Need proactive outreach for easy transition to new GST rates: CBIC chief

With the reduced GST rates on 375 items set to be effective from September 22, Central Board of Indirect Taxes and Customs (CBIC) Chief Sanjay Kumar Agarwal has underlined the need for "proactive outreach" by tax officers to handhold trade and industry in navigating the transition smoothly. He said greater awareness will not only minimise confusion but also enable businesses, particularly small traders and MSMEs, to adapt seamlessly and fully benefit from the reforms. The GST Council, in its meeting last week, has approved to make Goods and Services Tax (GST) a two-tier structure of 5 and 18 per cent, with a special rate of 40 per cent on tobacco and related products and ultra-luxury items. The new rates will be effective September 22, barring tobacco and related products, which would continue to be taxed at 28 per cent plus a compensation cess till December 31. Currently, GST is levied in the slabs of 5, 12, 18 and 28 per cent. In his weekly newsletter to tax officers, Agarwal sa

GST revamp to fuel consumption growth: Motilal Oswal's sector of the week

The recent tax cuts and GST reform, along with the broader policy shift, indicate a push toward consumption-driven growth, Motilal Oswal said

Officials explore input tax credit fixes for smooth GST transition

Suggest allowing unused ITC for SGST payments, Customs duty offsets, or tradable scrips

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

GST relief to act as sales multiplier: Amazon India exec Saurabh Srivastava

Amazon India expects GST revisions to drive stronger festive demand as its Great Indian Festival starts September 23 with expanded delivery reach and seller participation

FMCG firms may be allowed to use stickers to offer lower GST rates

FMCG companies executives who spoke on the condition of anonymity said that they are waiting for the roadmap from the government on the transition

The reform agenda: Why pushing strategic disinvestment will be crucial

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

GST 2.0: Towards simpler and citizen-centric indirect tax regime

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

75% consumers doubt firms will pass on GST rate cut benefits: Survey

LocalCircles' survey found that 42% of consumers were only "partially confident" and 33 per cent were "not confident" about companies lowering MRP in line with the revised GST rate

GST revamp to set off demand, investment, job cycle: FM Nirmala Sitharaman

Sitharaman says the govt will shift focus to speed up disinvestment

GST reforms: Taxation can't be an emotional decision, says FM Sitharaman

Days after the big-bang GST reform announcement, FM Nirmala Sitharaman, at her North Block office on Saturday, spoke at length on a range of issues in an hourlong interaction with Business Standard

JSW MG Motor, Kia announce price cuts following GST rationalisation

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

Consumers to see reduced prices of FMCG products by next month: Godrej MD

Consumers will start getting FMCG products at reduced prices only by early or mid-next month, as goods take time to reach markets with the new MRPs, Godrej Consumer Managing Director and CEO Sudhir Sitapati has said. The reduction of tariff to 5 per cent has also created "some short-term disruptions", as the industry operates on an MRP regime, and dealers and companies are sitting on stocks with high MRPs, he added. "The FMCG sector operates on an MRP regime, and stocks that dealers and companies are sitting on today are at higher MRPs. Simply passing on money to trade does not guarantee that it reaches consumers directly. It will take a little time before new MRPs flow into the market," he said. "By early or mid-next month, consumers will start seeing reduced prices on FMCG products," he pointed out. The all-powerful GST Council last week decided to reduce taxes on most of the common-use goods as part of the government's measure to boost consumer spending, including hair oil, soap

Must ensure that GST benefits are passed to consumers, says Piyush Goyal

At EEPC India's Platinum Jubilee celebrations, the Commerce Minister said the next-gen GST reforms will strengthen industry, trade and drive engineering exports

Stock Market Close: Sensex adds 76 pts, Nifty at 24,773; auto stocks outperform; Tata Motors up 4%

Sensex Today | Stock Market Highlights, Sept 8: Auto stocks outperformed the broader markets as the Nifty Auto index gained 3 per cent, led by Bharat Forge, Ashok Leyland, Motherson Sumi, Tata Motors