Page 7 - Latest Updates on GST Revamp

GST cut to save investors up to ₹1.5 trn in renewable sector: Pralhad Joshi

GST reduction on renewable energy will save up to Rs 1.5 lakh crore for investors till 2030, Union Minister Pralhad Joshi said on Monday. The comments from the Union New & Renewable Energy Minister assume significance as Monday is the first day of implementation of the Goods and Services Tax reduction. In a bonanza to consumers, the GST Council, comprising the Centre and states, decided to reduce tax rates on goods and services, from September 22 -- the first day of Navratri. The GST cut will give a significant boost to India's ambitious target of having 500 GW of renewable energy by 2030. Talking to reporters on the sidelines of the CII 6th International Energy Conference, Joshi said, "I thank Prime Minister Narendra Modi for cutting GST on renewable equipment from 18 per cent to 5 per cent, especially on the occasion of the Navratri festival." He further said this will save Rs one lakh crore to Rs 1.5 lakh crore for investors till 2030. According to the Ministry of New & ...

Prices of several 'Nandini' milk products go down with new GST rate cut

: Now you can get some of the 'Nandini' milk products like ghee, butter, paneer, at a reduced rate with the GST on them coming down from Monday. In a statement, the Karnataka Milk Federation (KMF) has listed the revised prices of 'Nandini' milk products due to the slash in Goods and Services Tax (GST) levied on dairy products. "The Government of India has reduced the Goods and Services Tax (GST) on essential food products like Ghee, Paneer, Cheese, Ice creams, Chocolates etc. and the reduction is effective from 22.09.2025. Accordingly, Karnataka Milk Federation (KMF) has revised the selling prices of 'Nandini' milk products," it stated. According to the list, 1000 ml Ghee (pouch) which was earlier priced at Rs 650 will now be available at Rs 610, Butter (Unsalted) 500 gm which was Rs 305 will now be Rs 286, Paneer (1000 gm) which was Rs 425 will be now Rs 408, Goodlife milk (1000 ml) which was Rs 70 will now be Rs 68, processed cheese (1 kg) which was Rs 530 will now be Rs 497, Chee

PM Modi interacts with Arunachal traders, industry leaders on GST rate cuts

In Arunachal, PM will lay the foundation stone of two major hydropower projects worth over Rs 3,700 crore, namely the Tato-I Hydro Electric Project (186 MW) which will be developed in Siyom sub-basin

Farmers, consumers, shopkeepers cheer new GST rates, say it boosts savings

On Sunday, Prime Minister Narendra Modi, in his address to the nation, said that reform is a continuous process

Akhilesh questions BJP on GST collections, seeks clarity on usage of money

Samajwadi Party president Akhilesh Yadav has taken a swipe at the BJP government, asking where the GST collections over the past eight years have gone. The GST Council, comprising Centre and states, has decided to reduce tax rates on goods and services, from September 22 -- the first day of Navratri. "The public is asking where the money collected in the name of GST has gone," Yadav wrote, listing possibilities such as whether the total amount would be delivered in cash to people's homes like the "UP BJP government's Mahakumbh model", adjusted in the next insurance premium, credited directly to bank accounts as direct benefit transfer, or deducted from the "Rs 15 lakh" promised earlier by the BJP. In the post late Sunday night, Yadav further asked if the amount would be distributed along with the long-pending promise of subsidised LPG cylinders, paid using funds allegedly received by BJP from companies through "backdoor routes", handed out in cash on the eve of the next election, us

New GST rates take effect: Full list of what gets cheaper from today

The NextGen GST reforms reduce taxes on several items spanning essentials, healthcare, education, electronics, automobiles, and farm equipment, while selectively increasing GST on sin, luxury products

Goa committed to strengthening MSMEs under new GST reforms: Sawant

Goa Chief Minister Pramod Sawant has welcomed the launch of the next-generation GST reforms by Prime Minister Narendra Modi, saying the initiative would strengthen India's journey towards an Atmanirbhar Bharat 2.0. In a post on X on Sunday, Sawant said the prime minister had urged states to strengthen the ecosystem for micro, small and medium enterprises (MSMEs), build infrastructure to attract investment and enhance manufacturing competitiveness with the vision of Vocal for Local, Think Global. Goa is fully committed to this mission modernising infrastructure, simplifying processes and empowering our entrepreneurs so that Swadeshi products shine proudly in India and across the globe, the CM said. PM Modi on Sunday asserted that the GST reforms kicking in from Monday will accelerate India's growth story, emphasising that it is a big and important step for aatmanirbhar Bharat and linking a boost to 'swadeshi' products to the country's prosperity. Addressing the nation on the eve of

GST 2.0 rollout begins today: New rates, tax cuts, exemptions | Top updates

The GST Council has cut slabs from four to two - 5 per cent and 18 per cent - while keeping a special 40 per cent rate on 'sin goods' and select luxury items under the new GST 2.0 framework

GST rate cut will make medicines more affordable, accessible: IPA secy

With GST removed from 36 medicines and capped at 5 per cent on most others, IPA Secretary General Sudarshan Jain described the step as a boost for self-reliance and the healthcare ecosystem

Insurers to pass on GST cut, expect slight demand rise in policies

Insurers will implement GST-free rates from Monday and pass on the full benefit to policyholders, though withdrawal of input tax credit may impact margins over time

GST reforms: New regime, but old problems persist for car dealers

With new GST rates kicking in, auto dealers face uncertainty on recovering compensation cess from unsold stock, even as OEMs cut prices to spur festive demand

GST reforms: Festival cheer for consumers but many suppliers face IDR

In his Independence Day speech, our Prime Minister announced a Diwali gift by way of significant reductions in the GST rates and simplification of processes

GST reforms to boost economy and ease inflation burden: CM Rekha Gupta

Delhi Chief Minister Rekha Gupta on Sunday said the GST reforms will strengthen national economy and provide relief from inflation. Gupta, who is set to participate in the 'GST Savings Festival' at Totaram Market in Tri Nagar on Monday afternoon, said that Prime Minister Narendra Modi's initiative to simplify the tax system and make it citizen-friendly has ushered in Diwali early for the capital's traders. "It feels as if Diwali has come early this year for the people of Delhi. A festive spirit is already visible across the city's shopping areas," she said, adding that the simplified Goods and Services Tax (GST) structure will also provide relief from inflation and give a new direction to development. Highlighting that now essential items, including medicines, and key services will be available at lower rates, Gupta said the new GST structure will provide significant relief to common citizens and middle-class families. She stated that Delhi, being a major consumer and commercial hu

GST 'savings festival' begins tomorrow; PM pushes swadeshi, self-reliance

Urges citizens, state govts to embrace, promote 'swadeshi'

Next phase of GST reforms will boost India's economic growth, says Fadnavis

Maharashtra Chief Minister Devendra Fadnavis on Sunday said the second phase of Goods and Services Tax (GST) reforms will accelerate India's economic growth. The second-generation GST reforms commencing on September 22 will not only boost India's economy but will also directly benefit common citizens. These reforms will further strengthen India's path towards becoming aatmanirbhar Bharat' (self-reliant India), Fadnavis told reporters here. He was speaking at the musical programme 'Mera Desh Pehle The Untold Story of Shri Narendra Modi', conceptualised by lyricist and poet Manoj Muntashir, at the Nita Ambani Cultural Centre in Bandra-Kurla Complex. Fadnavis said the country is fortunate to have Prime Minister Narendra Modi, who has shaped the vision of a New India. He added that Modi's leadership has given a new direction to the economy and development over the past 11 years and has fought a decisive battle against poverty. The CM said the programme portrayed lesser-known aspects o

Private companies must invest in India's growth journey, says EAC-PM

A recent article by the Reserve Bank of India (RBI) noted that private sector capital investment is expected to grow by 21.5 per cent to ₹2.67 trillion in 2025-26

GST 2.0 is 'bachat utsav' for citizens, will boost India's growth: PM Modi

PM Modi said GST 2.0 will cut tax slabs to 5% and 18% from September 22, marking a 'bachat utsav' that simplifies business, reduces prices, and strengthens 'Made in India'

Healthcare set to be more affordable as new GST rate kicks in from Sept 22

Medicines, including some life saving drugs, and medical devices are set to become cheaper from Monday with the new GST rates kicking in, making healthcare more affordable and accessible for every citizen, according to industry players. With the landmark GST reforms announced by Prime Minister Narendra Modi come into effect from September 22, it will make healthcare more affordable and accessible for every citizen, Indian Pharmaceutical Alliance Secretary General Sudarshan Jain said. "Most medicines, earlier taxed at 12 per cent, will now attract just 5 per cent GST. In addition, 36 critical life-saving drugs for cancer, genetic and rare diseases, and cardiovascular conditions have been fully exempted," he added. The GST Council has also rationalised tax slabs on health and life insurance premiums, glucometers, and corrective spectacles, Jain said. "These measures mark a transformative shift in India's healthcare landscape, delivering direct savings to patients, easing the burden o

H-1B visa fee hike, GST cut, trade talks likely to steer markets this week

The decision to hike US H-1B visa application fee to USD 100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said. Besides, trends in global equity markets would also be tracked by investors. "This week, markets will first react to the US imposing an annual fee of USD 100,000 on H-1B visas, announced late Friday. While export-driven sectors are already grappling with tariff-related pressures, this move could further weigh on IT services exporters at a sensitive time when trade negotiations remain underway," Ajit Mishra SVP, Research, Religare Broking Ltd, said. Globally, investors will be closely monitoring the performance of US markets in the aftermath of the Federal Reserve's rate cut, he added. Trouble mounted for the USD 285-billion Indian IT sector in its largest outsourcing market, as the US decided to hike H-1B visa application fee to USD 100,000 (about Rs 88 lakh), with apex body Nasscom warning that business ...

Monolithisch eyes 30% share of premixed ramming mass market in 2 years

Monolithisch India Ltd, manufacturer of premixed ramming mass, is aiming for up to 30 per cent share of the market in the next couple of years, according to its Managing Director Harsh Tekriwal. The premixed ramming mass is expected to grow to nearly 5 lakh tonnes a month, Tekriwal said. The company, which went public in June this year, is embarking on a capacity expansion drive targetting around 5.74 lakh tonnes per annum (TPA) of ramming mass in the next one year, Tekriwal told PTI. Premixed ramming mass is used for lining induction furnaces mostly used in secondary steel sector and alloy melting applications, acting as insulation material between the furnace and the molten metal, which is being melted. "The growth opportunity looks very optimistic because the secondary steel sector in India is booming at a very good pace. The reason being that they are economical, their product quality is quite good and gradually they are scaling up to very big levels," he said when asked about