Page 9 - Latest Updates on GST Revamp

Navaratri bonanza for buyers as car, bike makers roll out price cuts

Buyers are in for a bonanza with leading automakers Maruti Suzuki, Tata Motors and Hyundai Motor India set to cut prices from Monday, coinciding with the first day of the auspicious Navaratri period. Luxury carmakers Mercedes-Benz and BMW as well as two-wheeler makers are set to reduce prices with new GST coming into force from September 22. Maruti Suzuki India, the country's largest carmaker, has cut vehicle prices by up to Rs 1.29 lakh to pass on the GST rate cut benefit to customers. The company has also decided to cut prices of its small cars over and above the GST benefit of 8.5 per cent to make vehicles attractive for two-wheeler users to switch to four-wheelers. The prices of entry-level model S Presso will go down by up to Rs 1,29,600; Alto K10 by up to Rs 1,07,600; Celerio by Rs 94,100; Wagon-R by up to Rs 79,600 and Ignis by up to Rs 71,300. Price of premium hatchback Swift is reduced by up to Rs 84,600; Baleno by up to Rs 86,100; Tour S by up to Rs 67,200; Dzire by up t

GST rate cut kicks in from Monday, goods, services to become cheaper

Prices of kitchen staples to electronics, from medicines and equipment to automobiles, will get cheaper from Monday as the reduced GST rates on about 375 items come into effect. In a bonanza to consumers, the GST Council, comprising Centre and states, has decided to reduce tax rates on goods and services, from September 22 -- the first day of the Navaratri. Mass consumption items like ghee, paneer, butter, 'namkeen', ketchup, jam, dry fruits, coffee and ice creams, and aspirational goods like TV, AC, washing machines will become cheaper. Various FMCG companies have already announced reduction in prices in view of GST rationalisation. With GST on most drugs and formulations, and medical devices like glucometers and diagonistic kits reduced to 5 per cent, the cost of medicines will come down for the common man. Also, home builders will benefit as GST on cement has been cut to 18 per cent, from 28 per cent. The government has already directed pharmacies to revise their MRP or sell ..

TV prices drop ₹2,500-85,000 on lower GST, makers eye robust festive sales

Television makers are lowering the prices of their products in the range of Rs 2,500 to Rs 85,000 to pass on the GST cut benefit to consumers, and expect a robust sales during the festival season beginning Monday. In an effort to boost consumption, the GST Council earlier this month decided to reduce tax rates on goods and services from September 22 -- the first day of the Navaratri, leading to price cuts of various items like television and other white goods. The duty on TV sets with screen size above 32 inches will reduce to 18 per cent from the existing 28 per cent. TV makers have already announced price cuts in the range of Rs 2,500 to Rs 85,000, depending on the screen sizes and specifications, in order to extend the benefit of a 10 per cent reduction in GST to the consumers. The TV industry, which has had almost flat sales in the first half of this fiscal (April to September) so far, expects a spike in sales during festivals, starting with Navratra this week. Moreover, the ..

'GST reform not mere tax change but revolution', says FM Sitharaman

Addressing the gathering, Minister Sitharaman paid tribute to women workers who form the backbone of the matchbox industry

National Consumer Helpline launches dedicated category for GST complaints

The Centre has created a dedicated category on National Consumer Helpline's INGRAM portal for registering complaints related to revised GST rates and their redressal. The GST Council has reduced the tax rates on various goods and services with effect from September 22. According to an official statement on Saturday, Department of Consumer Affairs has taken steps to align the National Consumer Helpline (NCH) with the 'Next-Gen GST Reforms 2025' approved during the 56th meeting of the GST Council. "To address the expected consumer queries and complaints on NCH following the implementation of revised GST charges, rates and exemptions effective from September 22, a dedicated category has been enabled on the INGRAM (Integrated Grievance Redressal Mechanism) portal," it added. This category features major sub-categories including automobiles, banking, consumer durables, e-commerce, FMCG and others wherein GST related complaints will be registered. An inaugural training session by Centr

40% GST slab: Cess backlog hits cigarette, aerated drink distributors

Distributors of aerated drinks and cigarettes told the Finance Ministry that cess accumulation under the new 40 per cent GST regime is blocking working capital and hitting liquidity

Desist from spending on festival gifts, Finance Ministry tells CPSEs

The Finance Ministry has asked CPSEs to discontinue the practice of spending on Diwali and festive gifts to ensure judicious utilisation of public resources and fiscal discipline

GST cut to reduce farmers' solar pump costs by ₹1,750 cr annually: Joshi

Pralhad Joshi said GST rationalisation on renewable energy devices will lower solar pump costs for farmers by Rs 1,750 crore annually under schemes like PM-KUSUM

Only 2 in 10 consumers felt GST rate cut benefits in 2018-19, shows survey

Only 18 per cent of consumers say GST rate cuts in 2018-19 reached them; half blame brands and retailers for not reducing MRPs, while 78 per cent demand strict enforcement to pass on benefits

New GST reforms unlikely to put major burden on govt revenue: Crisil

Crisil said that govt has estimated the revenue loss at ₹48,000 crore, which is modest in comparison to last year's ₹10.6 trillion collections

Auto discounts may shrink as GST reforms set to spur demand: Report

Anticipating a recovery in demand and improved earnings, Motilal Oswal has raised its FY26 and FY27 volume growth projections across all key automobile segments

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