Page 18 - Latest Updates on GST Revamp

GST cut next level of reform; 2025 a tricky year for investors: Vijay Kedia

The GST reforms could revive consumption-driven sectors like automobiles, FMCG, and discretionary goods, which have been under pressure, says Kedia

Salon, gym, yoga centre services to get cheaper after GST slashed to 5%

Salon and fitness bills are likely to get cheaper as the GST rate on beauty and physical well-being services, including those at health clubs, salons, barbers, fitness centres, yoga, etc, has been slashed from 18 per cent with Input Tax Credit (ITC), to 5 per cent without tax credit. Also, daily use products like hair oil, toilet soap bars, shampoos, toothbrushes, toothpaste, too, are likely to get cheaper as taxes on them have been cut to 5 per cent from 12/18 per cent currently. The new Goods and Services Tax (GST) rate will be effective from September 22. As part of the rate rationalisation exercise at the 56th meeting of the GST Council, the Centre and states consented to reduce GST from 18 per cent to 5 per cent on beauty and physical well-being services used by the common man, including services of gyms, salons, barbers, yoga centres, etc. Other daily use items like talcum powder, face powder, shaving cream and aftershave lotion, too, could see the reduction in prices as GST

Mother Dairy to pass on benefits of GST reduction to consumers: MD

Mother Dairy on Thursday said it will pass on the benefits of the reduction in GST on a wide range of products to consumers. Mother Dairy is one of the leading dairy firms in the country. It clocked a turnover of Rs 17,500 crore in the last fiscal year. Reacting to the decision of the GST Council, Manish Bandlish, Managing Director of Mother Dairy, said, " We commend the Union Government's decision to reduce GST rates on a wider range of dairy products, including paneer, cheese, ghee, butter, UHT milk, milk-based beverages, and ice creams." The move would significantly boost the affordability and accessibility of value-added dairy products for consumers. "This is a particularly big boost for packaged categories, which are fast-growing favourites in Indian homes and will see stronger demand momentum going forward," Bandlish said. Mother Dairy is committed to ensuring that the advantages of this reform are effectively passed on to the consumers, he assured. "By lowering the tax sla

Milk to medicines: GST cut could save your family over ₹15,000 a year

From groceries and toiletries to life-saving drugs, new rates of consumption tax will help household budgets

Nifty, Sensex trim gains after 1% surge; key factors fueling the rally

FMCG and auto stocks drove Nifty and Sensex higher by over 1 per cent each, alongside strong cement, insurance buying

Shopping from Zara, H&M to get costlier: Impact of GST 2.0 on textiles

From Sept 22, clothes and accessories priced above ₹2,500 will face 18% GST, up from 12%, making mid-range brands costlier while GST on lower-priced textiles remain at 5%

Auto stocks rally on GST 2.0; Emkay sees M&M, Maruti as top beneficiaries

Auto stocks surged after the GST Council slashed tax rates across the automobile sector. Analysts at Emkay Global pick M&M, Maruti Suzuki, Hero MotoCorp as top auto stocks to buy

GST revamp may trim revenue but fiscal impact limited, says BofA Securities

GST Council approves two-slab system from September 22; BofA Securities says impact on GDP and government finances will be small, while consumption may get a boost

Delta Corp shares slump 7% after GST on casino operations hiked to 40%

Delta Corp shares fell after GST on admission to casinos, and any place having casinos or race clubs was hiked to 40 per cent

TVs, ACs, dishwashers GST cut may brighten Diwali for consumer electronics

GST Council has reduced rates on TVs, ACs and dishwashers to 18% from 28% which may boost consumer demand ahead of Diwali

HUL, Nestle: FMCG stocks rise up to 7% on GST reforms; analysts weigh

Nifty FMCG rose 2.66 per cent in early deals after the Goods and Services Tax (GST) Council, chaired by Finance Minister Nirmala Sitharaman on Wednesday, simplified the GST structure

GST revamp: Which goods and services will now fall under 40% 'sin' tax

Tobacco and related products will continue under the existing cess regime until the Centre clears Covid-era compensation loans to states

GST relief aids insurers; HDFC Life, Star Health among winners, says JM Fin

While the market was anticipating a cut in GST rates for term and health policies, analysts at JM Financial said, the exemption on savings-oriented life products came as a positive surprise.

Cong terms GST overhaul 'GST 1.5'; says wait for 'true GST 2.0' continues

With the GST Council approving a complete overhaul of the Goods and Services Tax (GST) regime, the Congress on Thursday termed it a "GST 1.5" and said time alone will tell whether it would stimulate private investment as well as ease the burden on MSMEs. The opposition party asserted that the wait for a "true GST 2.0" continues. Congress general secretary in-charge communications Jairam Ramesh said that a key demand of the states made in the true spirit of cooperative federalism '? namely, the extension of compensation for another five years to fully protect their revenues'? remains unaddressed. In fact, that demand assumes even greater importance now, he said. The Indian National Congress has for long been advocating for a GST 2.0 that reduces the number of rates, cuts the rates on a large number of items of mass consumption, minimises evasion, mis-classification, and disputes, does away with inverted duty structure '? lower tax on output as compared to inputs '? eases the complia

Farm machinery, tractors, fertilisers now attract 5% GST: Check full list

GST Council meet: GST on farm machinery, tractors, fertilisers and other agri items cut to 5 per cent from higher rates, giving relief to farmers

Rupee flat as Fed rate cut bets, GST cuts lift sentiment; opens at 88.06/$

Indian Rupee today: The domestic currency opened one paise higher at 88.06 against the greenback on Thursday

GST Council clears 2-slab system: Full list of items under 5% and nil rates

Under the two-slab system, the GST Council has scrapping 12 per cent and 28 per cent rates. Now, essential items like food, medicines, and books fall under zero and 5 per cent rates

New GST rates to come into effect from Sept 22: Your top questions answered

The GST Council's 56th meeting has notified sweeping changes effective September 22, impacting goods and services from milk and medicines to cars, coal and casinos

Here's how political leaders, India Inc reacted to new GST rate reforms

The next-generation GST reforms mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system, Mahindra Group CEO & MD Anish Shah said on Wednesday. Reacting to the GST Council's decision to overhaul the tangled Goods and Services Tax (GST), Shah said the Mahindra group views these reforms as transformative as it simplifies compliance, expands affordability, and energises consumption, while enabling industry to invest with greater confidence. "The next-generation GST reforms announced today mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system," he said in a statement. Shah further said by moving to a streamlined two-rate structure and focusing on essentials that touch the lives of every citizen- from food, health, and insurance to agriculture and small businesses - the government has "reaffirmed its commitment to ease of living and ease of doing business". "The rationalisation ...

Chidambaram welcomes new GST reforms but says move is '8 years too late'

In a post on X late Wednesday, the former Union finance minister said the current GST design and rates should not have been introduced in the first place