Page 2 - Gst

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 ...

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 ...

ICICI Bank served GST demand notice of ₹216 crore by tax authorities

ICICI Bank on Tuesday said tax authorities have slapped a demand notice of Rs 216.27 crore on it for alleged short payment of GST. In a regulatory filing, ICICI Bank said, on September 29, 2025, it received a Show Cause Notice (SCN) under section 73 of the Maharashtra Goods and Services Tax Act, 2017 from Additional Commissioner of CGST, Mumbai East Commissionerate raising GST demand amounting to Rs 216.27 crore on services provided by the bank to customers maintaining specified minimum balances in their accounts. While the bank is in litigation (including writ petition) on a similar issue raised in orders/SCNs in the past, since the aggregate/cumulative amount involved in the above crosses the materiality threshold, this matter is being reported, it said. The bank will file a reply to the said SCN within the prescribed timelines, it added.

NCH receives 3K GST-related complaints post tax cuts: Consumer Affairs secy

Consumer Affairs Secretary Nidhi Khare on Monday said the government's National Consumer Helpline (NCH) has received 3,000 complaints related to GST since the implementation of reduced taxes. "We have so far received 3,000 consumer complaints. We are sending them to the CBIC (Central Board of Indirect Taxes and Customs) for further action," Khare told reporters on the sidelines of an event. The Consumer Affairs Ministry is closely monitoring instances where consumers are being cheated through misleading discount practices to avoid passing on the benefits of reduced GST rates, she said. The ministry is deploying artificial intelligence and chatbot technology to get a clearer picture of complaints across various sectors, she added. The complaints mechanism comes amid concerns that retailers may not be fully passing on the benefit of GST rate reductions to consumers, prompting the government to strengthen its monitoring systems.

Buying a car post-GST cut? Make sure you do foolproof research first

Compare offers from various dealers on on-road price; strike good deals on the loan and insurance as well

HUL expects near-flat Q2FY26 growth as GST rate cuts likely to hit sales

Leading FMCG major HUL on Friday said that while reduced GST rates will support long-term consumption, short-term order postponement due to anticipation of lower tax led to "near flat to low-single digit" business growth in the September quarter. HUL, which owns popular brands like Lux, Rin, Surf Excel, and Ponds, has witnessed a transitory impact "in the form of disruption at distributors and retailers" across channels to clear existing inventories at old prices. "This has resulted in postponement of ordering in anticipation of receiving new stocks with updated prices and lower orders across the overall portfolio as consumers delayed their pantry buying," said HUL in a regulatory filing. This disruption resulted in a short-term impact on sales for the company in the September quarter. "Given our existing pipeline inventory in the channels, we expect this impact to continue into October as well," he said. Though these reforms are expected to increase disposable income and drive ..

Festival season e-commerce sales jump higher as GST cuts boost demand

Consumer behaviour this season reflects a bullish sentiment, fuelled by GST-enabled price reductions that have lowered costs in high-ticket categories such as electronics and pushed festive demand up 23-25 per cent across metropolitan and emerging markets. The GST reforms, effective from September 22 -- the first day of Navratri --reduced tax rates in several high-demand categories, including large-screen TVs, mid-range fashion and furniture, providing direct price benefits to consumers. These changes have not only lowered retail prices but also encouraged shoppers to look beyond tactical discount-hunting towards more aspirational purchases, lifting participation from tier 2 and tier 3 cities and stimulating growth in discretionary spending. According to market research firm Redseer, the reduction of GST on large TVs from 28 to 18 per cent led to a 6-8 per cent fall in retail prices, boosting demand for premium models. Fashion items priced below Rs 2,500 now attract just 5 per cent

Dairy group Hatsun Agro targets 15% revenue growth after GST revamp

India, the world's largest milk producer, is in the midst of trade negotiations with Washington and the demand for opening up its dairy sector to US corporations has been a sore point

ITC upbeat on festive demand with GST relief, but flags inflation risks

Leading FMCG player ITC expects a surge in the festive demand this season after the GST rate cut, and reduced prices will have a multiplier impact on volumes for the packaged food industry, a senior company official said. However, the FMCG major is also cautious about the existing inflation on some products, its Executive Director and Divisional Chief Executive of the Foods Business Division, Hemant Malik, said. ITC, which owns popular brands as Aashirvaad, Sunfeast, Bingo!, and B Natural, has already passed on the benefits of the GST rate cuts applicable from September 22, and expects a boost in consumption and investment as well as a multiplier impact on the economy. "A lot of expenditure by consumers is also driven by sentiment. When the message reaches consumers that prices have come down, it does allow people to open their purses. Once that happens, it is a multiplier impact in terms of volume increase It has a multiplier impact on the economy, both from the aspect of employme

GST invoices getting smarter from October: Here's what you need to know

According to a recent advisory issued by the GSTN, the changes are aimed at reducing disputes, lowering the compliance burden, and increasing transparency in the return filing process

AC, TV sales surge on day one as lower GST rates boost festive buying

As lower GST rates take effect on Monday, sales of air-conditioners, TV sets surged dramatically with buyers rushing to grab cheaper deals offered by retailers at the beginning of the Navratra festival. Neighbourhood kirana stores also witnessed a modest rise in sales of daily essentials as well as food items. The new two-slab GST (goods and services tax) structure of 5 per cent and 18 per cent has replaced the earlier four-rate duty regime following GST Council's sweeping reform aimed at boosting consumption across the country. This led to price cuts of most of the common-use items ranging from foods, toiletries and cosmetics to white goods such as TV and air-conditioners from Monday, which also coincides with the beginning of the nine-day annual Navratra festival. Dealers of home appliance segment said room-air conditioning (RAC), which has come under 18 per cent tax rate from 28 per cent earlier, witnessed almost double sales on the very first day. "Trends of primary regular sa

Inherent habit of Congress to abandon difficult development work : PM Modi

Prime Minister Narendra Modi on Monday alleged that the Congress has an "inherent habit" of abandoning any development work that is difficult, and this caused significant harm to the Northeast. Addressing a rally at the Indira Gandhi Park in Itanagar after unveiling development projects worth over Rs 5,100 crore, Modi said he knew that the Northeast couldn't be developed from Delhi, and so, he sent ministers and officers more frequently to the region, and he himself came here more than 70 times. "One inherent habit of Congress is that they never take up development work which is difficult to do; they abandon it. This habit of Congress caused significant harm to Arunachal Pradesh and the entire Northeast. In the hilly and forested areas, where development work was challenging, Congress would declare the regions backward and simply forget them," he claimed. The PM said that with the launch of GST reforms on the first day of Navratri, people will receive a "double bonanza" this festive

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 & ...

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

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

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 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

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

Adopt indigenous products in daily use: Amit Shah's appeal to citizens

Union Home Minister Amit Shah on Sunday asked people to adopt indigenous products in daily use as appealed by Prime Minister Narendra Modi in his address to the nation. Shah also said that for the fulfilment of the resolve for a self-reliant India, the NEXT Gen GST reforms will have a major role. The home minister said that in his address to the nation, PM Modi called for adopting 'swadeshi' and explained how NEXT Gen GST will strengthen self-reliance. Shah said initiatives have been taken to reduce GST in sectors like agriculture, health, textiles, and man-made fiber to boost manufacturing. "You too can adopt indigenous products in your daily use, make every home a symbol of swadeshi, and contribute to building a self-reliant nation," Shah said in a post on 'X' in Hindi with hashtag 'GSTBachatUtsav'. In his address, Prime Minister Modi 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 ...

GST among most significant tax reforms in India's history: Haryana CM

Haryana Chief Minister Nayab Singh Saini on Sunday said GST rationalisation kicking in from Monday represent one of the most significant tax reforms in the country's economic history. These reforms are designed to provide relief to traders, simplify lives of ordinary consumers, promote ease of doing business, and bring greater transparency to commercial activities, Saini said here. To ensure benefits of these reforms reach every section of society, the chief minister has directed the launch of a special "GST awareness campaign" from September 22 to October 15. The Excise and Taxation Department has prepared a comprehensive action plan to disseminate detailed information about the advantages and importance of goods and services tax (GST) reforms to the public and traders. The first phase of the campaign will run from September 22 to 29. During this period, the Chief Minister, all members of the State Cabinet, the MLAs, and representatives from urban local bodies will actively ...