Page 20 - Latest Updates on GST Revamp

From July 2017 to Diwali 2025: India's evolving GST journey explained

As PM Modi promises a fresh round of GST reforms, here's a look at how India's biggest tax reform began in 2017 and how it has shaped the economy over the years

ITC chief hails PM's reform vision, says GST overhaul to spur growth

ITC Ltd Chairman Sanjiv Puri on Tuesday hailed Prime Minister Narendra Modi's call for next-generation reforms, particularly in the Goods and Services Tax (GST) framework, saying the move will trigger a virtuous cycle of consumption, investment, growth and employment. He said the government's focus on affordability and accessibility of essential items, including food, will provide significant relief to the middle class, micro, small and medium enterprises (MSMEs), and farmers. "The government's resolve to ensure ease of living by enhancing affordability and accessibility of all items meant for daily consumption will benefit the sizeable middle-class population, MSMEs and farmers," Puri said in a statement. A transparent, simplified and growth-oriented tax structure will not only improve competitiveness of enterprises but also promote ease and cost efficiency in doing business, he added. "The proposed measures will enable formalisation of the economy, create a more tax-compliant ...

GST 2.0 to benefit QSR stocks like Jubilant, RBA, Devyani: JM Financial

GST 2.0 reforms may boost QSR demand as tax rates fall. Analysts see Jubilant FoodWorks, RBA, Devyani International, and Sapphire Foods gaining the most

Blue Star expects AC sales to rise around 20% on tax cut boost, says MD

The eventual tax rate on ACs is not clear but it is now at the maximum 28 per cent, so the planned cut should help dealers and manufacturers, who have struggled this year due to a cooler summer

Festival season cheer on hold as auto buyers await GST relief and discounts

Festival offers are already running with benefits between ₹1.5 lakh and ₹2 lakh on some models

Best of BS Opinion: The RBI's current policy framework has worked well

Today's Opinion Page looks at the RBI's recent discussion paper on inflation targeting, OpenAI's plans for India, the role of institutions in growth, and the recent GST rate cuts boost to growth

GST Council may allow input tax credit for employee group insurance

"ITC on group health and life insurance policies may be taken up for discussion. But there is no proposal to exempt these policies from GST. They will continue to attract 18 per cent," official said

Build a portfolio of equities, fixed income, precious metals: Taher Badshah

'Build portfolio of equities, fixed income, precious metals'

GST rate rationalisation likely to drive growth in life and health policies

GST reduction is expected to enhance affordability and boost life and health insurance sales, especially among price-sensitive segments, though concerns over ITC impact persist

Centre's decision to rationalise GST is positive: L&T's S N Subrahmanyan

During pandemic, private capex was almost zero and orders came largely from govt and multilateral projects. Today, private investment is returning strongly, Larsen & Toubro (L&T) CMD S N Subrahmanyan

More supply at longer end, GST-cut proposal keep bond yields elevated

Yields on state government bonds also hardened sharply. The 10-year SDL yield, which was in the range of 6.84-6.88 per cent in the first week of April, has climbed to 7.09-7.17 per cent as of Aug 19

States rejig policies, seek Centre's help to counter Trump tariffs

From Andhra to TN and Gujarat, states fear heavy biz losses

Establish a 2-tier fiscal council to institutionalise fiscal oversight: CII

The blueprint, titled Policies for a Competitive India, lays out over 250 actionable recommendations across 14 reform areas

GST 2.0 could boost consumption, but does little to fix deeper weaknesses

GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy

CII suggests reforms in GST; trade policy, jobs to achieve 'Viksit Bharat'

Industry lobby CII on Sunday unveiled a reform roadmap to accelerate India's economic transformation, pitching for a simplified GST structure, expanded coverage to petroleum and real estate, rationalised tariff structure, national employment and gig economy policies. The Confederation of Indian Industry (CII) in its report "Policies for a Competitive India", presents over 250 actionable recommendations across 14 critical reform areas. Developed through wide-ranging consultations with industry leaders, economists, and policy experts, the blueprint is aligned with the government's Viksit Bharat vision, it said. CII President Rajiv Memani said, "These recommendations are closely aligned with the government's reform trajectory and are in support of the Prime Minister's call for bold and transformative change. As a live document, policies for a Competitive India will continue to evolve, bringing fresh ideas to support policymakers." The reform areas include fiscal prudence, inflation ..

Vegetable oils body IVPA urges govt to lift GST refund restrictions

Vegetable oil industry body IVPA has urged the government to lift restrictions on tax credit refunds in place since July 2022, saying the curbs are straining working capital and deterring investment in the sector. The Indian Vegetable Oil Producers' Association (IVPA) said the Goods and Services Tax (GST) Council's restriction on refunds of accumulated Input Tax Credit (ITC) under the inverted duty structure was causing cash flow problems, particularly for small and medium enterprises. Under the current system, edible oil attracts 5 per cent GST while input materials such as packaging, chemicals and processing materials are taxed at 12-18 per cent, leading to substantial accumulation of unutilised tax credits. "With refunds blocked, companies face working capital shortages and disrupted cash flows, making operations less viable, especially for MSMEs and domestic manufacturers," the IVPA said in a statement. The association said that higher costs due to unrecovered tax credits are

GST reforms: FMCG distributors write to FM, flag supply-chain risks

Request for guidelines for smooth transition

Rupee weakens tracking rise in dollar index ahead of Powell's speech

The rupee depreciated by 0.3% as the dollar strengthened, amid concerns over upcoming US tariffs and ahead of Jerome Powell's speech at Jackson Hole

Markets halt six-day winning streak; Sensex, Nifty 50 drop close to 1%

Sensex and Nifty fell nearly one per cent amid FPI selling, but managed to rise for the second consecutive week, supported by gains in auto and consumer stocks

GST Council to meet on Sep 3-4 to discuss key reforms in tax system

The 56th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, will discuss major reforms, including rate rationalisation and compensation cess.