Page 4 - Latest Updates on GST Revamp

After hotels, online travel portals come under GST department lens

After probing hotels for GST underpayment, authorities now seek booking-level data from online travel portals to check possible double taxation

Delhi govt's GST refund gift to traders ahead of Diwali; ₹738 cr disbursed

Chief Minister Rekha Gupta on Friday said that her government has so far disbursed Rs 738 crore in goods and services tax (GST) refund to the city traders ahead of Diwali. The government earlier announced a GST refund of Rs 1,600 crore to city traders, pending since 2019. The process remains ongoing, with modern technology enabling faster and more efficient refund processing, Gupta said. Highlighting the government's efforts to ensure timely GST refunds, she said that the Trade and Taxes department has successfully cleared pending refund cases amounting to Rs 1,002 crore, of which Rs 738 crore has already been paid to business establishments and traders. So far, 8,259 refund applications have been processed, a record number, including 7,409 claims below Rs 10 lakh. The prompt disposal of these smaller claims has provided much-needed relief to small traders and business owners across Delhi, she said. The refund system has been fast-tracked with the Trade and Taxes department coming

CPSE bosses to travel in style as govt upgrades staff car purchase norms

The government has raised the engine cap for central public sector enterprises staff cars from 2,000 cc to 2,500 cc, allowing its executives to buy India-made vehicles under new guidelines

FHRAI urges FM Sitharaman to restore ITC, delink F&B GST from room tariffs

Hospitality body seeks regularisation of past GST dues, restoration of input tax credit for hotels, and flexibility in F&B taxation linked to room pricing

GST reform drives record surge in Policybazaar's insurance traffic

Policybazaar sees highest-ever health and term insurance traffic after GST exemption on premiums, with demand rising up to 2.5x since the policy rollout

Consumers struggle to get GST rate cut benefits on food, medicines: Survey

Despite lower GST rates on most food items and medicines, many consumers report only partial or no price relief, highlighting gaps in implementation and last-mile enforcement, a recent survey said

GST changes, ITC removal may have weighed on insurers' profitability in Q2

Analysts see 50-150 bps VNB margin compression for life insurers and sustained combined ratios for general insurers after GST rate changes and ITC removal

Healthcare industry welcomes faster GST refunds, seeks broader reform

The Central Board of Indirect Taxes and Customs (CBIC) recently announced that 90 per cent of GST refunds will now be released upfront for low-risk taxpayers

Moglix adopts supply-chain hedging as India eyes chip self-reliance

B2B platform Moglix is securing global suppliers for critical components as it aligns with India's expanding semiconductor and electronics ambitions

GST cuts, Navratri drive 5.8% surge in passenger vehicle sales: Fada

Sales were muted in the first three weeks of September but surged after September 22, when the revised goods and services tax (GST) rates took effect, the association said

GST 3.0: Govt plans automated refunds on lines of income-tax system

Priya, however, refused to give a deadline. "We will have consultations to be done, adequate safeguards have to be put in place

Dabur India flags short-term sales disruption in Q2 amid GST reforms

The company said in a statement that it expects second quarter revenue to grow in mid-single digits, with operating profit to grow at a similar pace

Marico's Q2 volume growth in high single digit despite GST disruption

Marico's domestic business logged a volume growth of high single digit in the second quarter of the current fiscal, despite facing a transitory impact from the disruption created by the implementation of new GST slabs. However, Marico "expects modest operating profit growth on a year-on-year basis" as it extended discounts on the pipeline inventory to its channel partners during the two weeks leading up to the effective date of the GST rate changes and high commodity prices, the company said in its latest quarter updates. The government announced the Next-Generation (GST 2.0) reforms on September 4, lowering tax on most daily essentials, including food and personal care products, which took effect from September 22. The GST rationalisation has benefited 30 per cent of its India business, which will stimulate demand and help in long-term growth in the FMCG sector, said Marico. "In line with the intent of the government's measures, we have passed on the benefits of revised GST rates

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