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Bata extends GST benefits to customers with 'Price Promise' initiative

Footwear major Bata India on Thursday said it has introduced its Bata Price Promise initiative, extending the benefit of the upcoming GST rate cut on footwear priced below Rs 1,000 to customers ahead of the official September 22 rollout. Under the scheme, prices across Bata outlets reflect a 7 per cent reduction, with the company absorbing the differential to pass on immediate savings to buyers, the company said in a statement. Footwear has seen GST cut from 12 per cent to 5 per cent. Our priority at Bata is to make fashion and comfort accessible to every consumer. By absorbing GST on select footwear, we are ensuring festive shopping starts early, is more affordable, and brings greater joy to our customers, Bata India MD and CEO Gunjan Shah said.

GST rate cut on tyres to bring down vehicle operating costs: ATMA

Automotive Tyre Manufacturers' Association on Thursday said the cut in GST rates on tyres will help bring down vehicle operating costs, which in turn reduces overall logistics expenses in the economy. Welcoming the GST Council's decision to reduce the rate on tyres to 18 per cent from 28 per cent, Automotive Tyre Manufacturers' Association (ATMA) also said the step will make tyres more affordable for users across all segments and contribute positively to road safety by encouraging timely tyre replacement and maintenance. "Lower GST on tyres will translate into more affordable mobility for millions of users - from farmers and small traders to transporters, motorists, and logistics operators. It will also help bring down vehicle operating costs, which in turn reduces overall logistics expenses in the economy," ATMA Chairman Arun Mammen said in a statement. The long-awaited move will make tyres more affordable for users across all segments and contribute positively to road safety by ..

FMCG companies to benefit as GST slashed to 5% on key daily essentials

GST on FMCG items including soaps, shampoos, biscuits, jams and noodles has been reduced to 5% from 18%, a move expected to spur rural demand and improve liquidity

Goyal urges industry to pass on GST rate cut benefits to consumers

The industry must pass on to consumers the full benefits of the GST rate reductions, the "biggest ever reform" since India's independence, Union Minister Piyush Goyal said on Thursday. Union Commerce and Industry minister said the GST reforms would boost demand in almost all sectors, supporting the economic growth of the country. He urged the industry to encourage the sale of products made in India in a big way. The minister addressed a joint event of the 2nd edition of India MedTech Expo 2025 and IPHEX 2025, which is the 11th international exhibition on pharma and healthcare. He also spoke at Bharat Nutraverse Expo 2025. Talking about India's growth story, Goyal said the country in the next two years would become the third largest economy. India will grow from a USD 4 trillion economy to a USD 30 trillion economy by 2047. "Yesterday's reform in indirect taxes in GST, coming on the back of several initiatives over the last 11 years, is transformational in nature, significantly ...

Why India's GST began with so many slabs and why it's being simplified now

The GST Council has cut slabs from five to two, aiming to reduce compliance costs, simplify taxation, and align India's indirect tax regime with global practice

Zero GST on health, life insurance: What the cut from 18% means for you

GST on health, life insurance: From September 22, 2025, individual health and life insurance premiums will no longer attract 18% GST, making policies more affordable for Indian households

Govt increases GST on exploration, production of oil and gas to 18%

Oil and gas exploration and production will cost more after the GST Council approved raising the tax on services rendered for the same to 18 per cent from the current 12 per cent. The new tax rates will be effective from September 22. Services relating to exploration, mining or drilling of petroleum crude or natural gas have been increased to 18 per cent with input tax credit (ITC), according to an official note. The same has also been done for support services to exploration, mining or drilling of petroleum crude or natural gas or both. The increase in GST "would lead to an increase in the cost of production of crude oil and natural gas," said Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, Icra Ltd. As crude oil and natural gas are outside the purview of GST, an increase in the cost of production without an offset available on the sale of these products will lead to stranded taxes, he said. "As oil and gas prices have moderated significantly since

GST overhaul: Will your smartphones get cheaper? Here's what you must know

Smartphone manufacturers had been seeking a reduction in GST on mobile phones from 18 per cent to 5 per cent, arguing that this would boost demand

GST cut to lift cement demand, margins; UltraTech, Nuvoco among top picks

GST Council has approved a reduction in rates on cement from 28 per cent to 18 per cent, effective September 22, 2025

GST 2.0 impact: Small cars, tractors to get cheaper ahead of festive sales

Aiming to provide relief to the common man, the government has sharply cut the GST levied on small cars to make them more affordable

GST cut makes small cars cheaper: Latest loan rates of various banks

Lower taxes and competitive loan rates mean people planning to buy cars can save money in September

GST cut next level of reform; 2025 a tricky year for investors: Vijay Kedia

The GST reforms could revive consumption-driven sectors like automobiles, FMCG, and discretionary goods, which have been under pressure, says Kedia

Nifty up 200 pts on GST boost; time to sell the rally? What charts suggest

Technical chart indicates that the short-term bias for the Nifty is likely to remain tepid as long as the index quotes below 25,065 levels.

Popcorn finally pops into one GST slab: Now 5% across the board

The GST Council has moved all popcorn varieties-salted, packaged, caramel-into the 5% slab, effective September 22, simplifying tax rules and cutting prices for consumers

GST revamp: Which goods and services will now fall under 40% 'sin' tax

Tobacco and related products will continue under the existing cess regime until the Centre clears Covid-era compensation loans to states

GST relief aids insurers; HDFC Life, Star Health among winners, says JM Fin

While the market was anticipating a cut in GST rates for term and health policies, analysts at JM Financial said, the exemption on savings-oriented life products came as a positive surprise.

Here's how political leaders, India Inc reacted to new GST rate reforms

The next-generation GST reforms mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system, Mahindra Group CEO & MD Anish Shah said on Wednesday. Reacting to the GST Council's decision to overhaul the tangled Goods and Services Tax (GST), Shah said the Mahindra group views these reforms as transformative as it simplifies compliance, expands affordability, and energises consumption, while enabling industry to invest with greater confidence. "The next-generation GST reforms announced today mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system," he said in a statement. Shah further said by moving to a streamlined two-rate structure and focusing on essentials that touch the lives of every citizen- from food, health, and insurance to agriculture and small businesses - the government has "reaffirmed its commitment to ease of living and ease of doing business". "The rationalisation ...

Chidambaram welcomes new GST reforms but says move is '8 years too late'

In a post on X late Wednesday, the former Union finance minister said the current GST design and rates should not have been introduced in the first place

FMCG sector set to gain as soaps, noodles, shampoo shift to 5% GST slab

The GST Council has moved several FMCG items to the 5% slab and exempted breads, paneer and milk, a move expected to lower prices, spur consumption and aid festive demand

Wide-ranging GST reforms to improve lives of citizens, says PM Modi

Prime Minister Narendra Modi said on Wednesday that wide- ranging reforms approved by the GST Council will improve lives of citizens and ensure ease of doing business for all, especially small traders and businesses. In a post on X, he said the Union government had prepared a detailed proposal for broad-based GST rate rationalisation and process reforms, aimed at ease of living for the common man and strengthening the economy. He added, "Glad to state that the GST Council, comprising the Union and the States, has collectively agreed to the proposals submitted by the Union Government on GST rate cuts & reforms, which will benefit the common man, farmers, MSMEs, middle-class, women and youth." Modi noted that he had spoken about his government's intention to bring the next-generation reforms in GST during his Independence Day speech. The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22. Bihar Deputy Chief .