Page 13 - Latest Updates on GST Revamp

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

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.

Lexus India to cut prices by up to ₹20.8 lakh to pass on GST rate reduction

Luxury carmaker Lexus India on Monday announced the reduction in prices of its entire product range by up to Rs 20.8 lakh to fully pass on the benefits of the GST rate reduction on automobiles. The revised prices will be effective from September 22, 2025, Lexus India said in a statement. Terming the GST rate overhaul as a "historic reform", Lexus India President Hikaru Ikeuchi said the company is extending the full benefit of the GST rate reduction to its customers in India. "This initiative enhances accessibility and instils greater confidence in the luxury mobility space," he noted. Under the revised prices, the reduction in prices of the company's six models will range from up to Rs 1.47 lakh on the sedan ES 300h to up to Rs 20.8 lakh on the flagship SUV LX 500d. Ikeuchi further said, "Coming at the onset of the festive season, it will spark joy and create new opportunities for our guests to experience the Lexus range of vehicles.

Trump tariffs may trim 0.5% from India's FY26 GDP: CEA Nageswaran

V Anantha Nageswaran warns prolonged US tariffs pose a major risk to growth, but remains confident of meeting India's 6.3-6.8 per cent GDP target for FY26

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.

Much fairer system, better for everyone: Tharoor welcomes GST reforms

Earlier, Congress President Mallikarjun Kharge alleged that US President Donald Trump's "pressure is mounting" and claimed the Union government implemented the GST reforms with elections approaching

From Hyundai to Tata Motors, here's how much cheaper cars get under GST 2.0

Hyundai, Tata Motors, Mahindra, Maruti and Renault have announced steep cuts across cars and CVs, with reductions ranging from ₹30,000 to ₹4.65 lakh from September 22

Stocks to watch today, Sep 8: SpiceJet, TaMo, M&M, Vedanta, BHEL, HFCL

Stocks to watch today, September 8, 2025 | Aurobindo Pharma: USFDA issued 8 procedural observations after inspecting Telangana Unit-XII.

Cabinet Secretariat, ministries to meet Monday on smooth GST rollout

According to another official, Finance Ministry is eager to re-examine certain sectoral issues if directed by the Prime Minister's Office

GST reforms should be the beginning of more reforms in all laws

Such changes have received sufficient media coverage, and so, I will focus more on certain other aspects

Best of BS Opinion: India's new-age economy gets a data reset

Today's Opinion pieces explore a new data framework, the Bima Sugam initiative, the real impact of the GST rate cuts, and what the startup ecosystem really needs

Bima Sugam can deepen insurance penetration, but must be fair, transparent

Bima Sugam aims to transform insurance with a digital one-stop platform for buying, managing, and claiming policies, targeting "Insurance for All by 2047

No GST cut for detergents, cosmetics surprises FMCG firms: Analysts

Keeping detergents and cosmetics under 18 per cent tax rate with zero savings on these daily-use items for households under the government's sweeping GST restructuring move is surprising, say industry players and analysts. 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. The new structure of goods and services tax (GST), which comes into effect on September 22, will have two slabs of 5 per cent and 18 per cent instead of the current four slabs of 5, 12, 18 and 28 per cent. Fast-moving consumer goods (FMCG) products such as hair oil, soap, face powders, shampoos, toothbrushes, and toothpaste have come under the lower slab of 5 per cent from 18 per cent. However along with detergents and cosmetics, duty on several items such as hair dye and household insecticides has not been reduced. FMCG companies say they are ready to pass on the benefits of the duty cuts to consumers, ev

GST cut on biogas devices to drive private investment, project growth

The reduction of Goods and Services Tax (GST) on biogas plants and devices will boost private investment in the sector, the Indian Biogas Association said on Sunday. The GST on biogas plants and devices has been cut to 5 per cent from 12 per cent, effective September 22. The GST Council, comprising the Centre and states, last week decided to cut tax rates on 375 items and reduce the number of slabs to just 2 from 4 currently. From September 22, a 5 per cent GST will be levied for most common-use goods and 18 per cent on everything else. The GST Council took a unanimous decision to do away with the 12 and 28 per cent slabs, the biggest rejig in 8 years since Goods and Services Tax (GST) was rolled out on July 1, 2017. Biogas plants and devices should become cheaper and more accessible and more financially attractive for investment, said the Indian Biogas Association (IBA) in a statement. A reduction of 7 per cent (from 12 per cent to 5 per cent) in the applicable GST rate for the C

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

CBIC to address industry complaints of non-reduction in prices: Chairman

The Central Board of Indirect Taxes and Customs (CBIC) will take up industry bodies' complaints relating to non-reduction in prices of goods after the reduced GST rates are implemented from September 22, its chief Sanjay Kumar Agarwal has said. The GST Council, comprising the Centre and states, last week decided to cut tax rates on 375 items and reduce the number of slabs to just 2 from 4 currently. From September 22, a 5 per cent GST will be levied for most common-use goods and 18 per cent on everything else. The GST Council took a unanimous decision to do away with the 12 and 28 per cent slabs, the biggest rejig in 8 years since Goods and Services Tax (GST) was rolled out on July 1, 2017. Talking to PTI after the Council decision, the CBIC chief said the industry has, in the past, also reduced prices of goods as and when the GST Council has taken a decision to reduce taxes. Also, there are competitive forces at play in the market, which will bring about price reduction in the hand

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