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Searched Tag: gst reforms

Union Minister of Commerce and Industry Piyush Goyal.

Piyush Goyal hits back at Opposition, defends 8 years of GST cuts

September 5, 2025, 09:23 AM - 4 min read

The Union Minister called the GST rate changes "a game-changing transformation."

The tax rate on non-economy flight tickets, which is now at 18 per cent, will also have the Input Tax Credit (ITC). The GST on economy class tickets, however, remains unchanged at 5 per cent

Flying luxury may burn a hole in your pocket from Sept 22

September 4, 2025, 08:42 PM - 3 min read

With business and premium economy flight tickets to cost more on higher GST rates from September 22, flying ‘high’ may not be that easy after all

Garments, including apparel and textiles which are knitted, and whose sale value does not exceed ₹2,500 per pair, have been put in the 5 per cent GST slab from a previous 12 per cent slab, but those exceeding ₹2,500 per pair will be taxed at the previous 18 per cent

Garment ind unhappy with higher GST, says will hurt middle class

September 4, 2025, 07:01 PM - 3 min read

With the GST on garments categorised on the basis of their M.S.P., garment industry bodies say the move will make a dent in middle-class affordability and weaken the country’s retail and garment sector

The government’s decision to slash GST rates on renewable energy devices and parts from 12 per cent to 5 per cent is expected to give a big push to the Centre’s green energy goals

Push to clean energy as tax lowered on devices

September 4, 2025, 05:43 PM - 4 min read

The government’s decision to slash GST rates on renewable energy devices and parts from 12 per cent to 5 per cent is expected to give a big push to the Centre’s green energy goals

A rate cut on several dairy products, fertilisers, bio-pesticides, and agricultural equipment by the GST Council in its latest Goods and Services Tax reforms is being widely seen as a farmer-friendly move that will boost the country’s agrarian economy

Farmers hail GST rate cuts on agri products as ‘Diwali gift’

September 4, 2025, 05:20 PM - 3 min read

A rate cut on several dairy products, fertilisers, bio-pesticides, and agricultural equipment by the GST Council in its latest Goods and Services Tax reforms is being widely seen as a farmer-friendly move that will boost the country’s agrarian economy

Not only will this step bring relief to patients and their families, improve accessibility of medicines and quality healthcare, it will also reduce the financial strain on healthcare providers, opined pharmaceuticals and healthcare industry players on Thursday

Pharma ind terms GST cut on drugs, medical supplies 'historical'

September 4, 2025, 03:47 PM - 3 min read

The GST Council has made a bold move to remove GST on 33 life-saving drugs and three critical drugs, placing healthcare above profit, said representatives from top pharmaceutical companies in India

Expectedly, insurance stocks soared on Thursday, with Star Health and Allied Insurance Company surging over 9 per cent, Niva Bupa Health Insurance Company zoomed 9 per cent, ICICI Prudential Life Insurance Company jumped 5.70 per cent, ICICI Lombard General Insurance Company rallied 5 per cent, Life Insurance Corporation of India climbed 5 per cent, HDFC Life Insurance Company went up 4.90 per cent and SBI Life Insurance Company surged 4.88 per cent on the BSE

Insurance stocks shine as life, health insurance exempt from GST

September 4, 2025, 03:06 PM - 5 min read

One of the many outstanding decisions of the rationalisation is that GST has been exempted on individual life insurance, including term, ULIP, and endowment plans and reinsurance services. Currently, premium payment on such policies attracts an 18 per cent tax

The Indian automotive sector has welcomed the GST Council’s decision to cut tax rates on various categories of automobiles, saying it is timely and will significantly benefit first-time buyers and middle-income families

Auto ind backs ‘growth-spurring’ GST rate-cuts

September 4, 2025, 01:58 PM - 4 min read

The GST Council’s decision to slash GST on various categories of automobiles has been hailed by the auto industry, saying the new rates will benefit first-time buyers and middle class families

The new tax slabs are now limited 5 per cent and 18 per cent, effective from September 22, the first day of Navaratri

Sensex jumps 900 points as auto stocks surge on GST reforms

September 4, 2025, 12:38 PM - 5 min read

The mood was celebratory for the Indian stock markets as benchmark equity indices Sensex and Nifty surged in early trade on Thursday after the GST Council approved a complete overhaul of the eight-year-old Goods and Services Tax regime

The finance ministers from Himachal Pradesh, Jharkhand, Karnataka, Kerala, Punjab, Tamil Nadu, Telangana and West Bengal convened again in New Delhi on September 3 after their meeting last week to decide on how their revenues could be protected after the Council removes two tax slabs

GST 2.0: Non-BJP states discuss compensation for revenue losses

September 3, 2025, 01:09 PM - 5 min read

With the GST Council gathered to discuss a major GST structure reform agenda, the finance ministers of eight opposition-ruled states held a meeting on Wednesday to put forth their demand for compensation for the revenue loss that states will have to face as a result of the rejig

A file photo of Union Finance Minister Nirmala Sitharaman.

GST Council meets to discuss rate cuts, rationalisation measures

September 3, 2025, 10:15 AM - 4 min read

The anticipated rise in consumption from this rationalisation, once confirmed by the GST Council, is likely to balance out nearly Rs 50,000 crore in revenue loss.

The GST Council, which is headed by Sitharaman, is due to meet on September 3 and 4 to discuss the new reforms, the announcement of which is being eagerly awaited

FM says GST 2.0 will bring economic transparency

September 2, 2025, 04:13 PM - 4 min read

The upcoming reforms in the country’s Goods and Services Tax (GST) structure, touted to be “next-generation”, would further reduce compliance burden on small businesses, said Union Finance Minister, Nirmala Sitharaman, on Tuesday