Page 10 - Gst

GoM meet today: What's on agenda as Centre pushes 2-slab GST reform plan

Finance Minister Nirmala Sitharaman to explain Centre's plan for two GST slabs of 5 per cent and 18 per cent, with a 40 per cent rate on select goods

Govt likely to revive anti-profiteering rules under GST 2.0 overhaul

Anti-profiteering provisions were first introduced in 2017, when GST replaced multiple indirect taxes and several items had lower tax incidence

Datanomics: GST rate-cut move chases push akin to the Laffer curve

GST collections expanded just 1.7 per cent in July, the slowest growth rate since the Centre began publishing monthly net receipts

GST rate rejig to give ₹1.98 trillion consumption boost: SBI report

The proposed GST reforms through a two-tier tax structure and lower tax rates on household goods will lead to an estimated average revenue loss of Rs 85,000 crore a year, but will boost consumption by Rs 1.98 lakh crore, SBI Research Report said on Tuesday. The Centre has proposed a 'next-gen GST' under which the Goods and Services Tax (GST) will be a two-rate structure of 5 and 18 per cent based of classification of items as 'merit' and 'standard'. Also, a 40 per cent tax will be levied on 5-7 select goods, including demerit goods like pan masala and tobacco. SBI Research Report estimated that the effective weighted average GST rate has come down from 14.4 per cent at the time of inception to 11.6 per cent in September 2019. Given the current rationalisation of rates, we believe that effective weighted average GST rate may come down to 9.5 per cent. However, the consumption boost, which totals for a 0.6 per cent increase in GDP, would not stoke inflation as taxes on mass consumptio

Construction costs surge 40% since 2019; experts call for GST reforms

Construction costs in India's affordable housing sector have surged 40% since 2019, squeezing developer margins. Experts suggest GST reforms could ease costs and protect housing affordability

Real money gaming firms on shaky grounds after increased 40% GST

Real money gaming firms say a proposed 40 per cent GST could drive users offshore or force closures, adding to the stress already caused by the 28 per cent levy imposed in 2023

GST tweaks may impact electric vehicle demand, near-term car sales

Move likely to benefit smaller cars which have been under pressure

Mobile phone makers pitch for 5% GST in rate revamp to spur demand

Industry bodies representing device makers had earlier this year petitioned the finance ministry for a shift to 12 per cent, as the government reviewed GST rate slabs

Traders likely to keep input tax credit on old stocks in GST revamp

The GST Council is also likely to update the tax administration system to ensure a smooth transition and shield businesses from additional costs

PM's Diwali Dhamaka may come as GST cuts on small cars, insurance premiums

Centre mulls lowering GST on small cars to 18 per cent and slashing levies on health and life insurance

Bond yields jump 10 bps on GST cut proposal, wipe out rating upgrade gains

The 10-year bond yield rose 10 basis points to 6.50 per cent on fiscal worries over GST cuts, reversing gains from S&P's sovereign rating upgrade earlier last week

New GST plan by Diwali: What is a GoM, how it works, and why it matters

Explainer: What the GST Council's GoM on rate rationalisation is, how it works, who its members are, and how its decisions could shape India's two-slab GST plan by Diwali 2025

Stock Market Close Highlights: Sensex gains 676 pts, Nifty tests 25K on GST rejig talk; Maruti up 9%

Stock Market Highlights on Monday, August 18, 2025: Auto, consumer durables (mainly electronics) and realty stocks were the big winners in market today on talks of restructuring GST slabs.

Congress claims vindication after PM Modi proposes next-gen GST reforms

The Congress on Monday said it stands vindicated on its criticism of the "flawed" Goods and Services Tax after Prime Minister Narendra Modi promised a simplified GST structure. Congress general secretary, communications, Jairam Ramesh claimed the economy has never recovered from the twin "Modi-inflicted shocks" of GST 1.0 and demonetisation. "It was the Vijay Kelkar Committee report of 2004 that led to the first announcement of GST in Mr. P. Chidambaram's Budget Speech of Feb 28, 2006. Here, Dr. Kelkar and his colleagues offer their suggestions for a transformed GST 2.0," Ramesh said in a post on X. "The Indian National Congress stands vindicated on its criticism of the flawed GST 1.0 that was pushed through on July 1, 2017, giving the economy its second serious shock after the notebandi of Nov 8, 2016. The economy has never recovered from these twin Modi-inflicted shocks," the Congress leader said in his post. The Congress has been alleging that the GST 1.0 is flawed and there ha

Sensex jumps 1,168 pts, Nifty tops 25k: Here's why markets are rising today

Sensex, Nifty rally: Twenty-five of the 30 Sensex constituents were trading in green, including Maruti Suzuki, Bajaj Finance, Ultratech Cement, Mahindra and Mahindra, Trent, and Hindustan Unilever

GST revamp brings price cuts on ACs, mobiles. Check full list of items

PM Modi announced new GST rates as a Diwali gift, cutting prices on many goods. ACs, snacks, mobiles, soaps and cement will get cheaper. Check full list of items here

Want GST 2.0 to be Good and Simple Tax not Growth Suppressing Tax: Cong

The Congress Saturday demanded an official discussion paper on GST 2.0 soon for a wider debate on it and said the reform should be towards a "Good and Simple Tax" in letter, spirit, and compliance, and not the "Growth Suppressing Tax" it has become. The opposition party's assertion came a day after Prime Minister Narendra Modi announced that GST rates will be lowered by Diwali, bringing down prices of everyday use items, as his government looks to reform the eight-year-old regime that has been plagued by litigation and evasion. Congress general secretary in-charge of communications, Jairam Ramesh, said that for well over a year and a half at least, the party has been calling for a radically transformed GST 2.0. Noting that a transformed GST 2.0 was a key pledge in the Congress manifesto for the 2024 Lok Sabha elections, Ramesh on Friday said the prime minister seems to have finally woken up to the fact that economic growth will simply not accelerate unless this transformation takes

Insurers hopeful of reduction in GST on health and life premiums

Insurers hope for a reduction in GST on health and life insurance premiums, following PM Modi's announcement of GST relaxations, aiming to boost insurance penetration and make coverage more affordable

GST overhaul: Most items to attract 5%, 18% tax; luxury goods may touch 40%

Nearly 99 per cent of items currently taxed at 12 per cent are expected to move to the 5 per cent slab, while most of the goods in the 28 per cent bracket would fall under the 18 per cent rate

PM Modi unveils GST reforms with tax cuts, two-slab structure plan

PM Modi announced "next generation" GST reforms to lower taxes on essentials, simplify rates to two slabs, and ease compliance, with the GST Council to take up proposals soon