GST BENEFITS MUST REACH CITIZENS
More automakers cut prices ahead of festive season post-GST slash
Carmakers, including Kia India, JSW MG Motor, TVS Motor Company, and Lexus, are reducing prices to pass on the benefits of reduced GST rates to customers. The price cuts, effective from September, aim to boost car sales during the festive season and the rest of the fiscal year. Lexus announced the most significant savings, with reductions up to ₹20.
GST 2.0: Kia cars just got cheaper this festive season as full GST benefit passed to customers; Check model-wise prices now
Kia India will pass on the full benefit of the recent GST reduction to customers across its entire ICE portfolio, effective September 22, 2025. This move follows the government's decision to reduce GST on passenger vehicles, making car purchases more affordable. The company anticipates a boost in consumer sentiment and increased demand during the upcoming festive season.
Piyush Goyal to industry: Pass on full GST rate cut benefits to consumers to boost demand, jobs & growth
Union Minister Piyush Goyal has urged industries to pass on GST rate cut benefits to consumers, which will boost domestic demand and create new business opportunities. He expressed confidence in India's economic growth, projecting it to become the world's third-largest economy soon.
GST reforms to impact every citizen cutting across regions and income groups, says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman called GST rate cuts a landmark reform benefiting all Indians, especially the middle class. She dismissed political pressure claims, noted even critics’ praise, acknowledged state inputs, and stressed the reform focuses on people, not politics, promising relief and cheer before the festive season.
BJP resolution urges businesses to pass on GST cut benefits to consumers
A BJP resolution, lauding PM Modi's GST rate cut, urges manufacturers and traders to pass on the benefits to consumers, fostering fairness and growth. The resolution emphasizes that lower prices will drive demand, boosting prosperity and strengthening the nation.
GST reforms, festive demand to boost food delivery and Q-commerce, say analysts
Food delivery and quick commerce companies anticipate growth. GST reforms and increased spending are key factors. The festive season may boost demand. While GST changes could raise delivery costs, subscription models might help. Some industry players see limited direct benefits. The real test lies in the upcoming festive season. A stronger growth cycle is expected.
- Go To Page 1
GST reforms bring big relief to people who suffered huge tax burden under Congress: BJP
Ashwini Vaishnaw says GST rate cuts will benefit common people and boost India's economy. The new GST rates will be effective from September 22, the first day of Navratri. He criticized the Congress for high taxes before 2014. Vaishnaw highlights PM Modi's commitment to the welfare of the middle class.
GST reductions to boost cooperatives, farmers, rural enterprises
The Ministry of Cooperation reports that recent GST reforms will strengthen the cooperative sector, enhance product competitiveness, and boost rural entrepreneurship. Rate reductions benefit farming, animal husbandry, and food processing, making essential goods more affordable. Dairy farmers and consumers receive direct relief through exemptions and lowered taxes on related products, promoting sustainable practices and increasing incomes for cooperatives.
GST reforms most positive for footwear, quick restros, FMCG, grocery retailers: Report
Bernstein reports that GST rate cuts will likely boost India's consumption. Footwear, QSRs, FMCG, and grocery retailers may benefit. Personal and home care items see GST reduction. Apparel and footwear GST is rationalized. QSRs may experience improved gross margins. The GST Council approved these cuts, effective September 22. This aims to reduce tax burden and stimulate economic growth.
GST rate cut must benefit people, not increase profits of big corporates: Siddaramaiah
Chief Minister Siddaramaiah welcomed the GST rate cuts but urged the Centre to ensure the benefits reach the people, not just corporations. He criticized the Modi government for the delayed acceptance of reforms, claiming it caused hardship. Karnataka anticipates a revenue loss of ₹15,000-20,000 crore due to the cuts but supports the move for public welfare.
Bad decision being corrected, not being apologised for: Aaditya Thackeray accuses government of marketing GST rationalization 'as gift'
Aaditya Thackeray criticized the Modi government's GST rationalization, calling it a correction of a flawed decision marketed as a gift. He hoped states would receive their dues without political bias. Union Finance Minister Nirmala Sitharaman emphasized ensuring GST benefits reach all citizens, while Piyush Goyal hailed the reforms as a streamlined taxation system under PM Modi's leadership.
GST Diwali Dhamaka has a catch, but govt is watching
The government is closely monitoring businesses to ensure that the recent GST rate cuts reach consumers, especially during the festive season. Ministries are collecting price data and urging companies to voluntarily pass on the benefits. While some industries have pledged to reduce prices, concerns remain about full transmission due to factors like existing inventory and lack of consumer awareness.
GST rate cut benefits should reach aam aadmi, FM Nirmala Sitharaman says
Finance Minister Nirmala Sitharaman asserted that the benefits of GST rate cuts must reach the common man. The Centre is closely monitoring the implementation of the new tax regime, effective September 22. Manufacturers, industry stakeholders, and even state governments will be held accountable if the promised relief is not passed on to citizens.
GST rate changes are a strategic inflection point for India’s auto industry
The Goods and Services Tax (GST) structure will be simplified. This decision will benefit the automotive sector. Most vehicles and auto components will move to an 18% GST rate. This will make vehicles more affordable. Electric vehicles will have a 5% GST. Luxury vehicles will be in a 40% slab. The new rates will be effective from September 22, 2025.
Reduction in GST rates of dairy products would have far-reaching benefits: Milky Mist
Milky Mist Dairy Food Ltd.'s CEO, K Rathnam, hails the GST rate reduction on dairy products as a significant boost for consumers and farmers. The move will make nutritious products like cheese and butter more affordable, stimulating demand and strengthening the organized dairy sector.
GST cuts: No impact on edible oil, but boost to processed foods demand says Adani Wilmar CEO
GST cuts on margarine, soya nuggets, jams, and jellies are set to boost India’s processed food sector, says Adani Wilmar CEO Angshu Mallick. The reduced rates make plant protein and margarine more affordable, benefiting consumers, farmers, and bakeries, while rural demand is expected to strengthen, driving sector growth.
A GST 'Budget' for aspiring citizens
The Indian government has implemented significant economic reforms. These reforms include GST rate rationalization and structural changes. The aim is to boost India's competitiveness and economic growth. Rate reductions on essential goods will benefit citizens. This will lead to increased consumption and GDP growth. Simplified tax structure and trade facilitation are also key components. MSMEs will experience easier business operations.
GST on insurance: Planning to delay premium payment after Sept 22 to get rate-cut benefit? Why it may not be a good idea
The Goods and Services Tax (GST) Council has reduced insurance GST rates from 18% to zero. This change applies to policy renewals after September 22, 2025, and new policies. So if you are planning to delay your premium payment after the date, it may not be a good idea.
GST rationalisation progressive step, big booster to India's economic growth: Mukesh Ambani
Mukesh Ambani welcomes the government's GST reforms. He says it will boost India's economic growth. Isha Ambani states Reliance Retail will pass on the benefits to customers. The GST changes aim to make products cheaper and simplify business. Reliance Retail commits to transparently sharing cost reductions with consumers. The company believes this will benefit various stakeholders and strengthen consumer confidence.
GST rate cuts complement Ayushman Bharat, PMJAY, says health ministry
The government's GST reforms aim to make healthcare more accessible and affordable by exempting health and life insurance premiums, reducing taxes on essential medicines and medical products. These changes complement initiatives like Ayushman Bharat and PMJAY, encouraging wider insurance adoption and lowering healthcare costs for citizens. The move also supports preventive healthcare by maintaining high taxes on harmful goods.
GST reforms: Life & health insurance to see 0% GST
The GST Council has eliminated the 18% tax on individual life and health insurance policies, aiming to boost affordability and coverage. Finance Minister Nirmala Sitharaman expects companies to pass on the benefits to consumers. This move, effective for all individual policies and reinsurance, seeks to reverse the recent decline in insurance penetration across India.
PM Modi calls GST reforms a 'double dose of growth' and slams UPA tax policies
Prime Minister Narendra Modi addressed the nation, emphasising the importance of GST 2.0 reforms in strengthening India’s global competitiveness and promoting self-reliance. He interacted with National Awardee Teachers, recognising their vital role in shaping the youth. Modi assured citizens of a “double blast of happiness” ahead of Diwali and Chhath Puja, while criticising the previous UPA government’s taxation policies.
Goyal urges industry to pass on GST rate cut benefits to consumers
Union Minister Piyush Goyal urged the industry to pass on the full benefits of GST rate reductions to consumers, calling it the biggest reform since independence. He emphasized that these reforms would boost demand across sectors, supporting India's economic growth and its journey to becoming a USD 30 trillion economy by 2047.
Insurance companies bear the burden of GST exemptions, have to reverse accumulated ITC
Following GST revisions, individual life and health insurers face the burden of reversing Input Tax Credit accumulated until September 21, 2025. While policyholders benefit from premium exemptions starting September 22, insurers must reverse unutilized credits, impacting their finances. Experts suggest a phased reversal or refund mechanism to balance consumer benefits and industry sustainability.
Exemption of GST from life and health insurance premium to make products affordable: Insurers
The GST Council's landmark decision to exempt insurance premiums from GST is poised to revolutionize the insurance sector. Insurers hail this move as a game-changer, anticipating increased affordability and wider insurance penetration. This exemption, covering life and health insurance, aims to ease financial burdens and promote health security for citizens, potentially driving a shift towards accessible digital solutions.
Anand Mahindra calls for ‘more reforms to unleash consumption and investment’ after GST rate cuts
On Wednesday, Finance Minister Nirmala Sitharaman unveiled major changes to the GST structure, reducing taxes on a range of items spanning essentials, automobiles, farm inputs and electronic goods. Branded as the “Next-Gen GST Reform,” the decision was pitched as a Diwali gift that would lower household expenses, ease business costs and stimulate wider economic activity.
KISSing those crazy GST slabs bye
The GST Council has streamlined the tax structure, introducing a 0%, 5%, 18%, and 40% tier system, eliminating the 28% slab except for luxury items. While many goods and services now fall under the 5% and 18% categories, a 40% 'sin' tax on certain items remains. Hotel tariffs below ₹7,500 will be taxed at 5%.
Next-gen GST reforms will set economy open and transparent, says Finance Minister Sitharaman
Union Finance Minister Nirmala Sitharaman announced next generation GST reforms. These reforms aim to create an open and transparent economy. The reforms will reduce compliance burdens and benefit small businesses. PM Modi announced a task force to simplify regulations. Banks are urged to expand credit and support infrastructure development.
Load More
