GST COUNCIL
PM's three-hour Manipur visit an insult to people, says Jairam Ramesh
Jairam Ramesh, Congress General Secretary, has criticised Prime Minister Modi's planned three-hour visit to Manipur on September 13, deeming it an insult to the state's people after a 29-month wait. Ramesh also questioned the GST Council's role, suggesting it's becoming a formality after the Prime Minister preemptively announced tax measures during his Independence Day speech.
GST Council's decision to simplify tax structure will make taxation more 'transparent': IOB
The Goods and Services Tax (GST) council is set to simplify the tax structure. This move aims to make taxation more transparent. Indian Overseas Bank anticipates a boost in rural consumption by 8-10 percent. Increased demand is expected across various sectors. Farmers will benefit from reduced costs on agricultural products. Price cuts on essentials will provide relief to consumers.
'Ek baar aap GST dekh lo': PM Modi's nudge ushered in biggest GST reform in 8 years
Prime Minister Narendra Modi’s push led Finance Minister Nirmala Sitharaman to review the GST regime, resulting in a major overhaul. The GST Council approved scrapping 12% and 28% slabs, leaving 5%, 18% and 40% for sin goods. Effective September 22, nearly 400 products will get cheaper, insurance premiums turn tax-free, and compliance will ease for businesses, especially SMEs.
Sitharaman writes to state FMs, thanks them for role in GST overhaul
Union Finance Minister Nirmala Sitharaman thanked state finance ministers for their support in overhauling the Goods and Services Tax (GST) regime. The GST Council unanimously agreed to reduce rates on various products, benefiting the common man. States initially worried about revenue loss, but Sitharaman assured them increased sales would compensate, fostering consensus and cooperative federalism.
USIBC lauds India's GST reforms, calls it a boost for business and investment sentiment
The US-India Business Council (USIBC) has lauded India's restructured Goods and Services Tax (GST), praising Prime Minister Modi, the GST Council, and the Ministry of Finance for the move. USIBC believes the rationalization of GST slabs and reduced tax rates across key sectors will enhance the business environment, attract global investment, boost consumption, and improve affordability for consumers.
GST Council clears process reforms for taxpayers
The GST Council has approved structural and process reforms for small taxpayers, including auto refunds and prefilled returns by October. A simplified registration mechanism for e-commerce suppliers, operational GST Appellate Tribunal by October, and backlog appeal limitations until June 30, 2026, were also approved.
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The makeover announced by GST Council is welcome, but a cup half-full with red tape still fluttering
The GST Council's recent meeting delivered on the promise of GST reduction and rationalization ahead of Diwali, reaffirming commitment to the unified tax reform. While rates on some goods were reduced and classifications simplified, the council fell short of fully eliminating red tape and subjective interpretations.
GST Council decisions to spur tech exports, enhance ease of biz: Nasscom
Nasscom welcomed GST Council’s September 3, 2025 decisions, calling them a boost for IT services and ecommerce. Measures include easing compliance, restoring export status for intermediary services, simplified MSME registration, clarity on discounts and delivery services, among others.
New GST rates: Is the puzzle over popcorn, paranthas and paneer finally solved?
New GST Rates: The GST Council has approved a new tax structure effective September 22, resolving long-standing confusions on food items. Popcorn, paranthas, and paneer now have simplified rates, with pre-packaged and labelled items taxed at 5%. Online gaming and IPL tickets will face a higher 40% GST.
GST Council approves faster export refunds for claims below ₹1,000
The measures will improve the liquidity condition of exporters amid the US imposing 50% tariffs on India. The US decision would impact around $48.2 billion of outbound shipments based on 2024 trade values. The GST Council recommended an amendment to the rules to provide for sanction of 90% of refund claimed as provisional refund "on the basis of identification and evaluation of risk by the system", the council said in a statement.
GST Council retains 28% tax and cess on tobacco, sin goods
The Union finance minister will decide on the date when the new tax rate for these items will be applicable. Currently, such products attract the highest GST rate of 28% plus compensation cess, central excise duty and national calamity contingent duty, taking the total indirect tax incidence to 53%. Average annual GST collection from tobacco products in the past five years amounted to ₹51,000 crore, along with additional education cess and surcharges from tobacco manufacturers totalling ₹27,660 crore.
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.
GST 2.0: What’s next for businesses and what can India Inc do?
The GST Council's recent announcements focus on rate consolidation, trade facilitation, and improved consumer ease. Rate reductions on B2C products aim to boost affordability, while input rate cuts for solar, textiles, and fertilizers correct inverted duty structures. The removal of the 'intermediary' provision simplifies export regulations.
GST council hikes tax on online real money gaming and betting to 40% from 28%
The GST Council raised tax on online real money gaming from 28% to 40%, classifying it as a ‘sin good’ alongside casinos and betting. Household games saw a GST cut to 5%. This follows Parliament’s ban on online real money gaming to curb fraud, money laundering,, terror financing other such activities it claimed to be happening due to these platforms.
GST 2.0 explained: When will new GST rate for life, health insurance be applicable?
In a significant move, the GST Council announced on September 3, 2025, that individual life and health insurance premiums will be exempt from GST. The council also reduced GST rates on medicines to a concessional 5%, aiming to lower healthcare costs.
Delta Corp, Nazara Technologies shares slide up to 7% after GST Council imposes 40% levy on casinos, gaming
Delta Corp and Nazara Technologies shares plunged following the GST Council's approval of a 40% tax on casinos, betting, and online gaming. Delta Corp faced a 7.2% drop, while Nazara Technologies also experienced a decline. This decision comes after Delta Corp shelved its Goa resort-cum-casino project due to GST uncertainty.
ICICI Pru, LIC, other insurance stocks rise up to 6% after GST council scraps tax on life, health policies
Insurance stocks: GST Council has scraped 18% tax on all individual life and health insurance policies, effective Sept 22, 2025. Relief extends to ULIPs, endowment, health plans, and reinsurance. GST on goods carriage third-party cover cut from 12% to 5%.
ET Graphics: The big winners of GST 2.0
GST tax rates on common use items ranging from hair oil to corn flakes, TVs, and personal health and life insurance policies were slashed after the all-powerful GST Council on Wednesday approved a complete overhaul of the tangled Goods and Services Tax regime.
Tobacco prices set to rise 5–6% as GST council clears 40% slab
Tobacco products may become more expensive. The GST Council increased tax on items like cigarettes and pan masala. The new GST rate will likely be implemented by year-end or early next year. Companies will likely pass the increased tax to consumers. However, GST on bidis has been reduced. This could affect sales of small cigarettes.
GST Council revises tax slabs for automobiles: Small vehicles get relief while SUVs face higher levy
The GST Council has announced a restructuring of tax rates for the automobile sector, effective September 22, 2025. Mass mobility vehicles like smaller cars and motorcycles up to 350cc will see reduced GST rates, dropping from 28% to 18%. Conversely, larger cars, SUVs, motorcycles above 350cc, yachts, and personal aircraft will face a higher tax rate of 40%.
GST Council slaps highest tax rate on aerated and other sugar-based drinks
The GST Council, during its 56th meeting, decided to increase the Goods and Services Tax (GST) on items with added sugar, sweeteners, or flavourings, including aerated waters. The tax rate has been revised upwards from 28% to a substantial 40%.
PM Modi welcomes GST council’s approval of rate cuts, says changes will benefit every section of society
The GST Council, with PM Modi's endorsement, has approved comprehensive GST reforms, including rate rationalization and process simplification. Finance Minister Sitharaman announced a significant merger of GST slabs, aiming to boost affordability and consumption. Daily-use items see rate reductions, benefiting the common man, while key sectors like agriculture and health receive support through structural changes and simplified compliance.
EVs to continue at 5% GST rate as Council opts for clean mobility push
The GST Council has decided to maintain the 5% concessional GST rate on all electric vehicles, providing a boost to India's clean mobility initiatives. This decision ensures that both mass-market and luxury EVs will avoid potential price increases under the new GST structure.
GST Council okays fast registration for non-risky businesses, seven-day refund window
The GST Council is likely to approve reforms aimed at easing compliance for small businesses, including faster registration and refunds. Amendments to the place of supply definition will benefit Global Capacity Centres and ITES, while rate rationalization discussions continue. The council also addressed post-sales discounts and appellate tribunal issues, focusing on reducing litigation and supporting small taxpayers and exporters.
GST on footwear, apparels priced at Rs 2,500 cut to 5%
The GST Council has likely approved reducing the GST rate on footwear and apparel priced up to Rs 2,500 to 5%. Previously, this rate applied only to items priced up to Rs 1,000. The council also decided to eliminate the 12% and 28% slabs, shifting most items to the 5% and 18% categories.
GST cut on insurance premiums may lower costs, insurers brace for near-term impact: Report
The GST Council is considering GST rate cuts on health and term insurance, potentially lowering premiums for policyholders. While a full exemption could reduce premiums significantly, it may lead to a revenue shortfall for the government.
GST Council starts two today meeting to discuss two slabs, tax cuts
The GST Council convened to deliberate on a proposal to streamline tax slabs, potentially reducing rates for essential items and luxury goods. While states generally support the plan, some opposition-led regions seek revenue loss compensation. The proposed reforms aim to boost consumption, ease business operations, and simplify compliance, with potential economic benefits.
Opposition-ruled states meet ahead of GST Council, seek compensation to approve reform agenda
Opposition-ruled states met ahead of the GST Council meeting, seeking compensation for revenue loss following GST rate rejig. They fear losses from slab removals, while the Centre believes lower prices will boost consumption. The GST Council will discuss a proposal to reduce the number of tax rates and a special rate on select items, potentially impacting prices of various goods.
GST Council meet begins to deliver on PM Modi's Diwali gift promise: What's coming for auto, insurance, personal care and electronic sectors?
Chaired by Finance Minister Nirmala Sitharaman, the GST Council is convening for two days to discuss a significant overhaul of the Goods and Services Tax. The proposed reforms aim to reduce tax rates on everyday items, potentially shifting most goods from the 12% bracket to 5% and from 28% to 18%.
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