Page 2 - Latest Updates on GST Revamp

Privatising PSBs won't impede financial inclusion, says FM Sitharaman

Finance Minister Nirmala Sitharaman said India's next set of customs reforms is in progress after GST, adding that the country is on track to meet its fiscal goals and become a top-three economy soon

Health, motor insurance policy sales jump on GST exemption, festival cheer

The GST exemption on insurance and festive demand have driven strong growth in health, motor segments, with ICICI Lombard, SBI General, Star Health reporting sharp upticks in sales, premium collection

India's festival spending jumps to $68 bn after GST cuts as demand rises

Spending between Sept 22 and Oct 21 - the period between the Hindu festivals of Navratri and Diwali - increased 8.5 per cent from the same time last year

GST 2.0 drives two-wheeler owners to car showrooms, boosts Maruti

GST 2.0 price cuts are bringing a new set of first-time car buyers into Maruti showrooms, with small car bookings rising sharply and a focused campaign launched to ease financing

India's GST collection increases 4.6% to ₹1.96 trillion in October

In August and September, collections were relatively subdued at ₹1.86 trillion and ₹1.89 trillion, respectively

GST waiver alone not enough to deepen penetration, say insurers

Insurers say the GST exemption will make policies cheaper and spur demand, but awareness, innovation, and efficiency are key to improving India's insurance penetration

As insurance regulator, I have an open mind: Irdai Chairman Ajay Seth

IRDAI chief outlines priorities on GST reforms, capital efficiency, Bima Sugam rollout, and risk-based supervision, promising orderly growth and stronger policyholder protection

Awareness, risk management key to insurance growth: Leaders at BFSI Summit

At the Business Standard BFSI Insight Summit 2025, insurance leaders said GST waiver alone will not boost coverage; better awareness, innovation and risk management are key to sector growth

PHDCCI bats for concessional 15% tax rate for new manufacturing units

PHDCCI urges revival of concessional tax for new manufacturing units, reinstatement of R&D incentives, and GST reforms to ease compliance and boost India's competitiveness

Robust Q2, GST tailwind lift M&M Fin to 52-wk high; analysts raise targets

While earnings came in ahead of expectations for M&M Financial Services, analysts remain watchful of persistently high credit costs and moderation in asset growth.

Overhaul of GST processes in works for easier compliance, faster refunds

The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs

No extra GST on tobacco; Centre plans new levy as cess period nears end

Tobacco products currently fall under the highest GST slab of 28 per cent, along with a compensation cess that varies depending on the product type

GST cut on commercial vehicles to reduce fleet acquisition costs: Crisil

Crisil Ratings said post the rationalisation of GST on commercial vehicles, acquisition of new fleet by the operators would decline substantially. It said in a statement on Monday that GST on commercial vehicles has been reduced to 18 per cent from 28 per cent. "This will bring down the acquisition cost of fleet operators," it said. Domestic commercial fleet operators are expected to clock a revenue growth of eight per cent to ten per cent this financial year, according to the statement. Strong domestic demand and import-related fleet requirements will drive growth. Higher revenues and stable margins will result in improved cash flows, which will partially fund the incremental working capital requirement, the statement said. Dependence on external short-term debt will be limited, and operators will undertake additions to their fleets funded by long-term loans. Increased fleet utilisation will ensure operating margins to remain stable between eight per cent to 8.5 per cent, accordi

A month after GST rationalisation, affordability boosts insurance sales

Insurers pass on the full tax benefit to customers, but withdrawal of input tax credit is pushing them to trim commissions, rework product mix and absorb higher costs

GST cut, festival demand fuel two-wheeler sales boom in October

Hero, Honda lead record monthly sales as consumers snap up bikes

Double whammy hits Colgate: GST cuts, competition weigh on Q2 sales

Analysts largely agree that the toothpaste major's volumes and revenue were hit by a 'double whammy' of GST rate cuts and intensifying competition, with limited signs of a near-term recovery.

Simplified registration under GST 2.0 from Nov 1, says FM Sitharaman

The new GST 2.0 system promises faster registration, reduced human interface, and automated processes to simplify compliance and strengthen taxpayer trust

A month on, GST 2.0 positive for customers, insurers face teething issues

Sales and inquiries see a spike, even as insurers plan to use multiple levers, including renegotiating commissions with distributors, to reduce the impact of withdrawal of input tax credit (ITC)