Page 5 - Gst

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 ...

PM claiming 'sole ownership' of GST reforms sought since 2017: Congress

The Congress on Sunday accused Prime Minister Narendra Modi of taking "sole ownership" of the amendments made to the GST regime and said the current reforms were inadequate, with no resolution to the states' demand for an extension of compensation for another five years. The opposition party slammed the reforms as "applying band-aid after inflicting deep wounds" and said the government should apologise to the public for its GST on essential items. A day before reduced GST rates come into effect, Modi made a strong pitch for promoting 'swadeshi' goods and asserted that the next generation GST reforms would accelerate India's growth story, increase ease of doing business, and attract more investors. In his address to the nation, Modi said a 'GST bachat utsav (savings festival)' will begin from the first day of Navratri, and coupled with the income tax exemption, it will be a "double bonanza" for most people. Reacting to his address, Congress president Mallikarjun Kharge took a swipe

Centre claiming undue credit for GST cuts, initiated by state: Mamata

West Bengal Chief Minister Mamata Banerjee on Sunday claimed that the Centre was taking undue credit for lowering GST rates, though the move was initiated by the state. Her statement came after Prime Minister Narendra Modi, in an address to the nation, said a GST savings festival will begin from the first day of Navratri' on Monday, which, coupled with the income tax exemption, will be a "double bonanza" for most people. Without naming the Prime Minister, Bannerjee said, We are losing Rs 20,000 crore as revenue, but we are happy about the lowering of GST. But why are you (Modi) claiming credit for it? We had sought a lowered GST. It was our suggestion at the GST Council meeting with the Union Finance Minister (Nirmala Sitharaman.

Rajasthan govt to host week-long 'GST Savings Festival' from Sept 22-29

The Rajasthan government will observe a 'GST Savings Festival' from September 22 to 29 to spread awareness about the recent tax cuts, Chief Minister Bhajanlal Sharma said on Sunday. Addressing his cabinet ministers and other legislators through a video conference, Sharma said the GST rate restructuring will benefit all sections of society, be it farmers and industries, or the middle class. "This reform will make essential commodities more affordable, increase consumption, and benefit both consumers and businesses," Sharma said. The CM directed the public representatives to promote the campaign in their constituencies by engaging with traders and using hoardings, banners, and social media posts.

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

Mizoram govt moves to increase GST collection and expand tax base

The Mizoram government will make concerted efforts to enhance Goods & Services (GST) collection and expand the tax base in view of the current GST reforms, an official said on Sunday. He said that the state government decided to collaborate with local councils to increase the number of traders and shopkeepers in state capital Aizawl and other parts of the state paying GST. He said that a meeting of the Mizoram Resource Mobilisation Committee (MRMC), state taxation department and Aizawl City Local Council Association chaired by MRMC vice chairman Haukhuma Hauzel, on September 19, observed that many traders in Aizawl and other parts of the state despite their monthly income exceeding the GST requirement, avoid GST and did not comply with the registration requirement. He said that the state government will take steps to address this issue and strengthen cooperation between the taxation department and local councils in identifying unregistered traders. The state government hopes to ...

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

Royal Enfield partners with Flipkart to sell 350 cc motorcycle range

Mid-sized motorcycle maker Royal Enfield on Friday said it has tied up with e-commerce marketplace Flipkart to sell its entire 350cc portfolio. The company's 350cc range - the Bullet 350, Classic 350, Hunter 350, Goan Classic 350 and the new Meteor 350 will be available on Flipkart, starting September 22, 2025, in five cities - Bengaluru, Gurugram, Kolkata, Lucknow and Mumbai, the company said in a statement. The customer journey for delivery and after-sales support will be fulfilled by their preferred Royal Enfield authorised dealer in these cities, it added. Customers opting to purchase their favourite Royal Enfield 350cc motorcycle on Flipkart will also get full GST benefits, applicable from September 22, 2025, the company said. "Partnering with Flipkart allows us to meet today's digital-first customers where they are requiring a simple, convenient way to explore and purchase their motorcycles online," Royal Enfield CEO B Govindarajan said. Currently available in five cities, a

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

GST rate cut: Agri minister to meet farm equipment industry on Sep 19

Agriculture Minister Shivraj Singh Chouhan will hold discussions with industry players on Friday to ensure the smooth implementation of the recent cut in Goods and Services Tax (GST) on tractors and other farm equipment. The government has reduced GST from 12-18 per cent to 5 per cent on various agricultural machinery and equipment effective September 22. This will reduce the retail prices by 7-13 per cent. "Farmers will also gain the dual benefit of subsidy schemes combined with lower taxation, while indigenous agricultural machinery manufacturers will receive a competitive edge under the vision of Atmanirbhar Bharat," an official statement said. The meeting will focus on ensuring the benefits of GST rate cuts are widely passed on to farmers. Representatives of the Tractor and Mechanisation Association (TMA), Agricultural Machinery Manufacturers Association (AMMA), All India Combine Harvester Manufacturers Association (AICMA), Power Tiller Association of India (PTAI), and ...

CBIC notifies changes in annual GSTR-9 form, makes ITC reporting detailed

The CBIC has notified changes to the annual GST return form GSTR-9, making the reporting of Input Tax Credit (ITC) more comprehensive. The Central Board of Indirect Taxes and Customs (CBIC) on September 17 notified changes to the Central GST (CGST) rules, which will come into effect on September 22 and apply to annual returns filed for the 2024-25 fiscal. GST registered Taxpayers with aggregate turnover above Rs 2 crore are required to file GSTR-9. AMRG & Associates Senior Partner Rajat Mohan said the government has revamped the annual GST return (Form GSTR-9). "Revised structure of form makes it far more detailed, with new tables covering reversals under Rules 37, 37A, 38, 42 and 43, re-claims in subsequent years, transitional credits, import-related ITC, and auto-populated mismatches," Mohan said. Professionals and corporates will need to wait for the revised forms and utilities from GSTN before implementing these changes in practice. "Going forward, this measure underscores a

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

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 cut to save discoms ₹3,000 crore annually on power costs: MNRE

MNRE said reducing GST on renewable devices to 5% from 12% will save discoms Rs 2,000-3,000 crore annually, lower solar project costs and boost clean energy investment