Page 4 - Latest Updates on GST Revamp

LKP Securities' reform-led bets: L&T Fin, PNG Jewellers, BEL, and 5 others

Pro-growth policy measures such as the government's proposed goods and services tax (GST) rationalisation are expected to aid consumption

J&K rolls out GST 2.0 reforms, adopts 7-step consumer benefit protocol

Jammu and Kashmir government on Friday rolled out GST 2.0 reforms in the Union territory, bringing in major changes to rationalise the tax structure and ensure consumer welfare in line with the national reforms drive. Effective September 22, GST has adopted a two-tier structure, with rates of 5 per cent and 18 per cent. The earlier tax slabs of 5, 12, 18, and 28 per cent have now been clubbed into the two rates mentioned above, resulting in a reduced price of 99 per cent of daily use items. "The Government has commenced the implementation of next-generation GST reforms 2.0, effective from September 22, aligning with the national tax rationalisation drive and reinforcing its commitment to consumer welfare," an official spokesperson said. For smooth and transparent implementation of the new GST regime, the administration has put in place Standard Operating Procedures (SoPs) for the State Taxes, Legal Metrology, Health & Medical Education, and Industries & Commerce ...

Festival-season sales likely to hit record ₹4.75 trillion after GST relief

CAIT says GST rate cuts and income tax rebates have spurred demand momentum, with Diwali sales set to hit Rs 4.75 trillion this year, up from Rs 4.25 trillion in 2024

GST 2.0, rural recovery may boost prospects for vehicle financiers

Vehicle finance demand has been muted and asset quality stressed in the financial year 2026 (until August)

Nearly 4,000 GST complaints filed in first week of reforms, says govt

The Consumer Affairs Ministry said the National Consumer Helpline received 3,981 GST-related complaints in the first week of reforms, mainly on milk pricing and electronics

Car sales surge in September as GST 2.0 price cuts boost festive demand

Auto majors Maruti Suzuki, Tata Motors and Mahindra & Mahindra reported robust sales in September as reduced price tags owing to GST rationalisation led to record demand in the Navaratri period. The month also saw Tata Motors and Mahindra & Mahindra settling at number two and three positions, respectively in vehicle wholesales ahead of Hyundai Motor India. Maruti Suzuki India said its total domestic passenger vehicle dispatches to dealers stood at 1,32,820 units last month compared with 1,44,962 units in the year-ago period, a dip of 8 per cent. The domestic wholesale figure for the month should be seen in the context of logistical constraints towards the last part of the month, the auto major stated. In a virtual press conference, Maruti Suzuki India Senior Executive Officer for Marketing and Sales Partho Banerjee said the company's retail sales were 1.73 lakh units last month, an increase of 27.5 per cent as compared with September 2024. He noted that the company has 2.5 ...

Credit quality of Indian companies likely to remain stable in H2FY26

Rating agencies say easing monetary cycle, declining inflation supporting this

Govt's Q&A on GST refund due to inverted duty rates is controversial

Para 4.26(ii) of FTP says that 'merchant exporter shall be required to mention name and address of supporting manufacturer of the export product on the export document viz. Shipping Bill/ Bill of Expo

GST reforms: Some correctives a new move to strengthen the framework

However, while evaluating the GST reforms, the fundamental goal must not be forgotten. It was to raise the GST tax-to-GDP ratio by widening the tax base, by improving compliance

October MPC meet begins today: Repo rate, inflation outlook, and more

After slashing repo rates for three consecutive months since February, the MPC kept the rate unchanged at 5.5 per cent in August

Q2 results preview: Destocking prior to GST 2.0 may impact FMCG sales

FMCG companies face muted sales in July-September as distributors slow purchases ahead of GST-driven MRP cuts, with Hindustan Unilever citing a short-term impact

GST reforms will boost market purchasing and economy: MoS Chaudhary

The recent GST reforms will spur market consumption and boost the domestic economy, Minister of State for Finance Pankaj Chaudhary said on Monday. He said the impact of these reforms will be known in the next four to six months. Chaudhary interacted with businessmen, entrepreneurs, and tax experts in Indore regarding the Goods and Services Tax reforms. "Prime Minister Narendra Modi believes that when GST reforms bring additional money into the hands of the common people, it will definitely boost market purchasing and accelerate our economy," he said. Chaudhary said that though the GST system was introduced in 2017 under the leadership of PM Modi, efforts for it were going on for 10 years. Taking aim at the previous Congress-led UPA government, the MoS said, "The then government was not successful in introducing the GST system because people didn't trust that government. The lack of credibility was the reason that the erstwhile government couldn't convince states to adopt the GST .

Has the GST reform-led stock market rally turned into a bull trap?

Data shows that over 50 per cent, or 255 stocks, from the Nifty 500 index had slipped below August 14 closing prices amid the over 3 per cent fall in Nifty 500 index from its recent high

NCH receives 3K GST-related complaints post tax cuts: Consumer Affairs secy

Consumer Affairs Secretary Nidhi Khare on Monday said the government's National Consumer Helpline (NCH) has received 3,000 complaints related to GST since the implementation of reduced taxes. "We have so far received 3,000 consumer complaints. We are sending them to the CBIC (Central Board of Indirect Taxes and Customs) for further action," Khare told reporters on the sidelines of an event. The Consumer Affairs Ministry is closely monitoring instances where consumers are being cheated through misleading discount practices to avoid passing on the benefits of reduced GST rates, she said. The ministry is deploying artificial intelligence and chatbot technology to get a clearer picture of complaints across various sectors, she added. The complaints mechanism comes amid concerns that retailers may not be fully passing on the benefit of GST rate reductions to consumers, prompting the government to strengthen its monitoring systems.

EY raises India's GDP forecast to 6.7%; recommends diversifying markets

The 7.8 per cent GDP growth in the June quarter outperformed the Reserve Bank of India's expectation of 6.5 per cent growth during the August monetary policy meeting

Only 10% consumers see full GST benefit, 3 in 10 see cuts on food: Report

A LocalCircles survey finds GST 2.0 benefits have reached only a fraction of consumers, with packaged foods and medicines lagging while vehicles and appliances show clearer price cuts

Auto sales set for strong September; analysts bet on Maruti, M&M, TVS Motor

September auto sales expectations: Analysts cite the start of festive sales from September 22, improved finance availability, dealer inventory build-up, and positive rural sentiment as key drivers.

FHRAI to meet govt over GST demand notices, seeks ITC reinstatement

The hotel body said retrospective GST demand notices and withdrawal of ITC have created cost burdens for hotels, threatening investments and tourism growth

Experts flag tax credit blockage for FMCG distributors despite GST relief

The industry may push for a new refund mechanism, but this would be difficult for the government to allow, given the high risk of misuse

Reforms to boost growth, but tariff suspense a risk, says FinMin

Finance ministry warns tariff risks could hit jobs and consumption, while GST rationalisation and reforms are seen as key to sustaining India's growth amid global uncertainties