Page 16 - Latest Updates on GST Revamp

Input tax credit removal blunts impact of GST waiver on insurance

While the GST exemption on health and life insurance premiums will lower costs for consumers, insurers will absorb some impact due to the removal of input tax credit (ITC)

Celebrations commence with GST reform announcements, marking economic shift

This courageous move signals the emergence of a stronger economy, clearly indicating that India is firmlyset on a path of progress and growth

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

GST reforms to boost competitiveness of exporters across sectors

The removal of the value threshold for GST refunds will significantly benefit small and e-commerce exporters by making even low-value shipments eligible for refunds

GST cut likely to defer insurance buying till new rates kick in

Experts expect spike in health and life insurance sales post-September 22, 2025, after GST exemption on individual policies takes effect, but many customers are likely to defer purchases until then

From complexity to clarity: GST Council ushers in a new era of tax reforms

The shift from four slabs to a leaner two-tier structure 5% for merit goods and 18% for standard goods, with 40% for sin and luxury items is the most far-reaching change since GST's inception

Patients to benefit from GST rate cut, but firms likely to face pressure

GST rationalisation lowers costs for medical consumables and high-end therapies, benefiting patients. However, pharma companies, particularly in biologics, may face margin pressure due to ITC loss

EV makers relieved as GST Council retains 5% tax on electric cars

The GST Council's decision to retain the 5% tax rate on electric vehicles (EVs) reassures manufacturers, but competition from small petrol and diesel cars with lower taxes looms

Banks betting on festive season, GST cut to boost credit growth in H2FY26

Banks are launching attractive loan offers, with credit growth expected to rise during the festive season and after GST cuts. Retail lending is set for significant growth in H2 FY25

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

New GST rates revive auto companies' hope for a festive sales spurt

Small petrol and diesel cars now attract only 18 per cent GST compared to 29-31 per cent earlier

Datanomics: Fast-moving goods and services key to meeting Modi's objectives

Looking from a different perspective of durability of the products, it is non-durable or fast moving products which would have higher impact on the demand

Realty companies upbeat on GST reforms, expect better affordability

Lower costs to be passed on to consumers, move to drive demand

GST revamp: Generation cost of solar plants may drop by 10 paise per unit

The GST rationalisation is expected to lower solar power generation costs by 10 paise per unit & reduce wind energy generation costs by Rs 15-17 paise per unit, accelerating India's energy transition

Low prices, high GST: Double whammy for upstream energy companies

GST Council recommends raising GST on oil and gas exploration services from 12% to 18%, potentially impacting the margins of Indian upstream companies facing declining energy prices

New GST rates: Govt bonds rally as revenue loss concerns subside

Government bonds rallied as the estimated revenue loss from GST tax cuts came in lower than expected, easing fiscal concerns. The yield on the benchmark 10-year bond eased to 6.49%

GST exemption on life, health policies: Lock in lower term premiums now

Enhance sum insured on base health policy, buy add-on cover

GST reforms boost cash flow, fueling co-working sector growth & innovation

GST reforms are set to accelerate India's co-working sector growth by reducing construction material costs, improving cash flow, & supporting demand from start-ups & enterprises, say industry experts

GST rate rejig may ease inflation by up to 75 bps in FY26: SBI Research

The GST rate rejig, which will bring down tax rates on essential household items and services, may help moderate retail inflation by 65-75 basis points in the next fiscal, SBI Research Report said on Thursday. The 56th meeting of the GST Council on Wednesday rationalised the current 4-tiered tax rate structure into a citizen-friendly 'Simple Tax' - a two-rate structure with a standard and merit rate of 18 per cent and 5 per cent, respectively. A special de-merit rate of 40 per cent has been set for a select few goods and services. The new tax rates will be effective from September 22, except for tobacco and related products, for which a date will be announced later. Of the 453 goods where GST rate has changed, 413 goods saw a decrease in rates, while only 40 goods witnessed an increase in rates. Almost 295 goods now have new GST rate of 5 per cent/NIL from earlier 12 per cent, the report said. "Since the GST rate of essential items (around 295 items) has declined from 12 per cent t

A new GST: The indirect tax system simplified for greater efficiency

The removal of the 12 and 28 per cent slabs and the shifting of items from these slabs to 5 and 18 per cent will make a large number of consumer items cheaper