Page 21 - Latest Updates on GST Revamp

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.

Bond yields rise to around five-month high on fears of increased supply

Market participants said that the yield on the benchmark 10-year bond might rise to 6.58-6.60 per cent during the next week

GST cuts could make Indian hospitality globally competitive: Industry body

Hotel Association of India on Friday said the government's step to rationalise GST slabs has the potential to transform Indian hospitality into a globally competitive force, hoping for a tax rate of 5 per cent with input tax credit across hotels, restaurants, and tourism services. Welcoming the announcement by Prime Minister Narendra Modi on August 15 to bring next-generation GST reforms that will reduce the tax burden across the country, Hotel Association of India (HAI) said such reforms are essential to position India as a top tourism destination globally. It will ensure competitiveness vis--vis other international destinations and help in achieving India's goal of attracting 100 million foreign tourists annually by 2047, HAI said in a statement. "GST rationalisation has the potential to transform Indian hospitality into a globally competitive force. While we welcome the (GST) Council's consideration of a simplified structure, it is equally critical to align tariff thresholds with

GST 2.0, S&P upgrade may spur FII reweighting to India: Motilal Oswal AMC

Market outlook: We believe the market will reward companies that consistently deliver strong earnings growth, regardless of whether they are large-cap, mid-cap, or small-cap, says Ajay Khandelwal

Tariff worries? Allocate 40-50% to Sensex or Nifty basket: G Chokkalingam

The continued normal monsoon, falling inflation, and the S&P Global Ratings upgrade also contributed to the market recovery despite the US tariff threats, said Chokkalingam

GoM backs GST rejig; states flag risk to revenue ahead of Council meet

The GoM of state finance ministers endorsed the Centre's proposal for a two-tier GST structure with 5 and 18 per cent slabs and a 40 per cent levy on sin and luxury goods

Auto firms split over GST rejig impact on car and two-wheeler sales

Maruti Suzuki India Chairman R C Bhargava said that GST on cars is currently 28 per cent, with a cess on larger cars pushing the total burden to 40-45 per cent

Need GST Council-like bodies to boost infra growth: Tata Power CEO Sinha

Sinha says power sector requires ₹3 trn in funding over 5 years

FHRAI seeks GST rationalisation to boost India's tourism competitiveness

FHRAI urges the government to rationalise GST to make India's tourism sector globally competitive, aligning with Vision 2047 and attracting more investment to the economy

Parliament passes Online Gaming Bill to ban real money gaming nationwide

The legislation aims to prohibit real money gaming-related issues such as addiction, money laundering, suicides, and financial fraud