Page 9 - Latest Updates on GST Revamp

Haier India expects up to 30% growth in festive season aided by GST cuts

Haier Appliances India, an appliance & Consumer electronics maker, expects around 25 to 30 per cent growth this festive season, helped by GST reduction on large screen TV sets and room-air conditioners, its President NS Satish has said. The company, which is investing Rs 1,500 crore in its Greater Noida-based plant and scouting land for a new factory in South India to cater to the domestic and export opportunities, said this GST reduction is expected to increase the localisation drive and 'make-in-India' project. "Definitely, the GST benefit will increase the consumption. So as the consumption increases, the scale of production also goes up. So, obviously, the investment, which we had already planned, will take it on a faster track," Satish told PTI. According to Satish, this GST reform is "one of the boldest moves" by the government of India to boost the economy. Earlier this month, the government, as part of its next-generation GST reforms, reduced the duty on TV screens above .

GST reform widens price gap; EV makers may face heat in festive season

Price cuts on petrol, diesel and CNG cars after GST reforms have widened the gap with EVs, making electric models less attractive to buyers in the near term

Lower GST rates to ease tax burden, boost MSMEs, aid formalisation: Report

The government's announcement of GST 2.0 will not only ease tax burden on households, empower MSMEs, and accelerate formalisation, but also bring India closer to the dream of a single tax regime, a report said. The GST overhaul will nearly triple the share of items taxed at 5 per cent, rising from 54 consumption categories to 149 categories under GST 2.0, FICCI's Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE) said in a report. For rural households, the share of exempt and merit goods in their consumption basket is expected to rise sharply from 56.3 per cent to 73.5 per cent, while for urban households, this share is likely to increase from 50.5 per cent to 66.2 per cent, it said. "As a result, effective GST incidence for rural families falls from 6.03 per cent to 4.27 per cent, while for urban households it reduces from 6.38 per cent to 4.38 per cent. This means more disposable income in the hands of consumers, which in turn will fuel ...

Suzuki Motorcycle to cut prices by up to ₹18,024 after GST rate reduction

Suzuki Motorcycle India on Friday said it will reduce prices of its products across models by up to Rs 18,024 to pass the benefit of GST rate reduction to customers. With the revised price effective September 22, 2025, customers can now enjoy savings, with the maximum benefit going up to Rs 18,024 depending on the model, Suzuki Motorcycle India Pvt Ltd (SMIPL) said in a statement. Alongside two-wheelers, the reduced GST on spare parts and accessories will directly translate into lower maintenance costs, collectively enhancing the overall ownership value for Suzuki customers, it added. "We welcome the government of India's GST 2.0 reforms, which are a progressive step towards making mobility more affordable for the masses," SMIPL Vice-President, Sales & Marketing, Deepak Mutreja said. Coming just ahead of the festive season, he said, "This move is expected to further uplift customer sentiment, make our product range even more attractive, and give a strong push to demand in the ...

Govt eases GST price label rules, scraps mandatory advertisements

Businesses can skip re-stickering and use old stock until March 2026

GST rate cuts impact Centre and states equally, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday made it clear that the Centre was not considering any compensation to states for potential revenue loss arising from the latest Goods and Services Tax (GST) rate cuts, stressing that the impact will be shared equally and given the devolution of taxes, while the Centre's share will be even smaller. The opposition was putting pressure on the BJP-led central government, seeking compensation of potential revenue loss from GST rationalisation. Speaking at a BJP-organised discussion on GST in Kolkata, Sitharaman said that during the GST Council meeting, several states, particularly those governed by opposition parties, raised concerns over the proposal to reduce rates, and asked what would happen if they led to revenue losses and how that gap could be filled. Sitharaman said that in response, she had explained that there is "no donor-donee relationship" within the GST Council. "If GST is divided 50/50 between the Centre and the states

Maruti passes GST restructuring benefits, cuts prices across models

With tax cuts ranging from ₹67,000 to ₹129,000, the firm is looking to boost sales momentum during the festive season while maintaining its dominance in the PV market

Govt should ensure policy gains do not evaporate in opaque tractor markets

The government can ensure trade accountability by making it mandatory for dealers to display MRPs for all models along with prices under GST 1 (12-18 per cent) and GST 2 (5 per cent)

Heritage Foods to cut dairy product prices following GST reduction

Dairy company Heritage Foods said on Thursday it would reduce prices across its product range following the government's decision to cut goods and services tax (GST) rates on dairy products. The company said it would pass on the full benefit of the GST Council's rate rationalisation to consumers ahead of the festive season, effective September 22. Heritage Foods reduced the maximum retail price (MRP) of long shelf-life UHT milk by Rs 3 per litre, while fresh milk prices remained unchanged as the category is exempt from GST, the company said in a statement. The company cut ghee prices by Rs 50 per litre and butter by Rs 50 per kilogram. Cheese prices were reduced by Rs 50 per kg, while paneer was lowered by Rs 25 per kg. In the ice cream segment, the company reduced prices by Rs 35 for 950ml packs and Rs 20 for 700ml packs. The price cuts come as India prepares for the festive season, when dairy consumption typically increases. Heritage Foods said the "consumer-first move" would h

FMCG firms may shift to new GST regime without changing current price tag

The govt could allow discounts to be reflected in the invoice during the transition

Spinny cuts used car prices ahead of GST change, up to ₹2 lakh off

Spinny has reduced used car prices ahead of GST reforms from September 22, offering buyers up to Rs 2 lakh savings and sellers up to Rs 20,000 higher resale benefit

GST 2.0 promises relief on many fronts, but unfinished agenda persists

Despite the sweeping rate and slab reductions, several issues remain unresolved and need to be tackled in the next round of reforms to make GST more viable for businesses, say experts

GST reforms infused ₹2 trillion in Indian economy: Nirmala Sitharaman

The finance minister also said the GST revenues grew to ₹22.08 trillion in 2025 from when it was introduced

Govt notifies revised CGST rate schedules, effective September 22

The Finance Ministry has notified revised CGST schedules covering seven categories of goods, effective September 22, with States set to issue matching SGST notifications

Ranbir Kapoor's ARKS targets ₹36 cr in FY26, to add 2 stores in 2025

Ranbir Kapoor's ARKS aims for Rs 36 crore revenue in FY26, with two new stores, SKU expansion, a fragrance line and plans for global shipping to boost its premium fashion brand

'Mid, smallcaps expensive, but smart stock picking can generate alpha'

With Dussehra and Diwali in October 2025, followed by the wedding season, we expect the benefits of pent-up demand to be fully captured during Q3FY26, says Agrawal

No need to relabel existing medicine stock: FinMin on new GST rates

Finance Ministry clarified that medicines released before Sept 22 need not be recalled or relabelled under GST 2.0, with compliance ensured via revised price lists at retail level

FMCG majors cut prices as firms pass on GST benefit to consumers

Mother Dairy, Hindustan Unilever and others announced price cuts across dairy, foods, ice creams, soaps and shampoos, as GST benefits are passed on to consumers from September 22

GST rejig: No input tax credit for insurers on brokerage, CBIC clarifies

The CBIC has clarified that taxes paid on inputs like brokerage and commission for individual life or health insurance policies cannot be claimed as ITC

Commerce ministry tells retailers to highlight discounts from GST rate cuts

The commerce and industry ministry has directed physical retail chains to prominently display and advertise discounts due to the recent GST rate rationalisation. In a communication to the Retailers Association of India, Department for Promotion of Industry and Internal Trade (DPIIT) said retailers should reflect the GST reduction in the receipt / bill as GST discount and major focus be given on high impact products. "Prominently display and advertise 'Discount due to GST' through their networks. For example - posters / flyers and ads (print, TV and online) through their own retail networks," it said. The department has also suggested that sales figure be monitored during this festive season and highlighted through various channels. Nearly 400 products - from soaps to cars, shampoos to tractors and air conditioners - will cost less when the rejig of the GST is effective from the first day of Navaratri on September 22. Starting September 22, the GST slab structure will change - 5 pe