GST ON ESSENTIALS
Much-fairer system: Shashi Tharoor welcomes GST reforms
Shashi Tharoor, a Congress MP, welcomed the recent Goods and Services Tax (GST) reforms. He called the reforms a fairer system. Tharoor mentioned that the Congress party had been requesting these changes for years. Mallikarjun Kharge, Congress President, alleged pressure from Donald Trump influenced the GST reforms. The GST Council decided to rationalise GST rates to two slabs.
GST 2.0: CBIC clarifies social media claims about transition benefits under revised GST rules are false
The CBIC has refuted a viral social media message claiming new GST transition benefits would be applicable from September 22, 2025, deeming it factually incorrect and misleading. The GST council approved 'next-gen' reforms on September 3, 2025, including a shift to a two-slab tax structure.
GST cuts elude detergents, cosmetics; analysts and FMCG players say it's surprising
Industry experts are surprised that detergents and cosmetics remain under the 18% GST slab despite the govt's restructuring aimed at boosting consumer spending. While taxes on essential FMCG products like soaps and toothpaste have been reduced to 5%, detergents, hair dye, and household insecticides were excluded.
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.
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.
Amber Enterprises, Trent among key winners of GST-driven demand upswing
India's retail sector anticipates a consumption boost. The GST Council's tax slab rationalization aims to reduce prices on many goods. Apparel, footwear, and consumer electronics will likely see price drops. Organized retail may gain against unorganized players. Amber Enterprises and Trent are expected to benefit. Challenges like inverted duty structures remain. This policy shift signals a push toward consumption-driven growth.
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GST Bonanza: Consumer chiefs vow to start slashing your bills...
Leading consumer goods companies, including HUL, Britannia, and Amul, are swiftly reducing prices and increasing grammage to pass on the benefits of recent GST rate cuts to consumers. This move is expected to boost demand, drive volume growth, and deepen market penetration, particularly for daily essentials and segments like air conditioners and televisions.
Pharma sector hails GST cut as a landmark move toward affordable healthcare
GST rates on 33 life-saving drugs have been reduced to zero, while rates on other medicines and diagnostics have been cut to 5%. The industry welcomes the reform as a major relief for patients.
GST reforms will cause Rs 3,700 crore revenue loss to govt: SBI report
SBI's research indicates that GST reforms, including rate reductions, will result in a minimal revenue loss of Rs 3,700 crore, contrasting with the government's estimate of Rs 48,000 crore. The GST Council's move to a two-tier structure is expected to positively impact the banking sector through cost efficiencies.
Piyush Goyal slams Congress over their high taxes, says new GST rates will fuel India's 'cycle of growth'
Commerce Minister Piyush Goyal criticized the Congress for past high taxes, asserting the BJP's GST reset will spur investments and job creation, fueling India's growth cycle. He highlighted that the new regime's lower taxes would benefit consumers and businesses, making India more attractive to investors. The Centre assured support to states facing potential fund shortages due to the shift.
GST exemption on insurance a game changer, says PB Fintech’s Yashish Dahiya
PB Fintech's CEO, Yashish Dahiya, hails the GST exemption on individual life and health insurance as a landmark reform, emphasizing its potential to boost awareness and adoption. He believes the government's move sends a strong signal about the importance of these essential products for families.
Hailing PM Modi, BJP says GST reforms 'next-gen, historic'
The BJP celebrated the new GST reforms as a significant step, with JP Nadda highlighting PM Modi's commitment to easing citizens' lives. Nadda criticized the previous UPA government's inability to implement GST due to lack of trust. Sambit Patra noted the reforms would make essential items more affordable for everyone from September 22, creating a positive atmosphere.
GST 2.0 cuts prices of essentials, but wheat flour still taxed 5%
GST 2.0 has reduced taxes on many essentials. Packaged Indian breads now have zero GST. However, wheat flour still has 5% GST on smaller packs. This affects home-cooked rotis. Manufacturers buying in bulk are exempt. Roller Flour Millers' Federation of India wants GST exemptions extended to all wheat flour. They highlight that most Indian rotis are made at home.
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 rate cut to spur domestic demand, help build long-term growth: FMCG industry
The Goods and Services Tax Council reduced rates on essential items. This decision aims to revive domestic consumption. It will also stimulate economic momentum before festivals. Fast-moving consumer goods companies will pass on benefits to consumers. They will increase grammage or reduce prices. Analysts expect a price drop and growth in the FMCG sector.
GST reforms: Grocery essentials to be cheaper by nearly 15%
Following GST reforms, prices of essential groceries like biscuits, soaps, and noodles are expected to decrease by 10-15%, potentially boosting demand in the FMCG sector. Tax reductions on items like butter, cheese, and chocolates aim to make them more accessible, while sugary drinks remain taxed at 40%. Analysts anticipate benefits for major FMCG companies.
Govt delivers 'GST Diwali bonanza': Cheaper essentials, big relief on insurance premiums
India's Goods and Services Tax (GST) undergoes a major overhaul, eight years after its launch, with the GST Council approving significant rate cuts on numerous everyday items. Effective September 22nd, the new rates aim to boost consumption by shifting to a two-slab structure of 5% and 18%, abolishing the 12% and 28% rates.
GST rate for jewellery unchanged at 3% , but industry sees indirect gains
Mumbai jewellers are happy with the GST reductions in other sectors. They believe this will help their business indirectly. The GST Council kept gems and jewellery rates at 3 percent. Experts think lower rates will increase consumer spending. More people may invest in jewellery. However, some feel the unchanged GST on gold may hinder growth.
GST cut on drugs, medical devices to provide relief to patients: Industry players
The government is reducing GST on medicines and medical devices. Lifesaving drugs are exempt. This action will help patients and families. It will also make healthcare more affordable. Sudarshan Jain and Anil Matai welcome the changes. Ameera Shah and Shobana Kamineni also support the move. Himanshu Baid says it will improve access to medical technologies.
GST reforms very timely; adding more M&M, ancillaries like Uno Minda, cement stocks to portfolio: Gurmeet Chadha
Gurmeet Chadha of Complete Circle Consultants said the GST reforms are a timely boost for demand, compliance, and sentiment. He sees autos, FMCG, and financials as key winners, adding M&M, Uno Minda, and cement stocks to his portfolio while deploying fresh capital.
GST on mobile phones after reforms: Will your next phone get cheaper?
India's GST revamp, effective September 22, simplifies tax slabs to boost spending, but mobile phones remain taxed at 18%, despite industry requests for a lower 5% rate.
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.
Finally have to follow Rahul Gandhi's advice: Pawan Khera slams Centre on GST reforms after 8 years
Congress leaders Pawan Khera and P Chidambaram have criticized the Centre's next-generation GST reforms, deeming them overdue. They highlight Rahul Gandhi's earlier advocacy for an 18% GST cap, questioning the government's delayed response. The reforms, announced by Finance Minister Nirmala Sitharaman, aim to reduce GST rates, providing relief across various sectors with revised slabs of 5%, 18%, and 40%.
GST reforms to provide relief to families, ease compliance for businesses: India Inc
Industry bodies said the clarity will ease compliance, reduce litigation, and give businesses and consumers much-needed predictability. The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
Simplified GST Scheme: Government unveils quick registration for small and low-risk businesses
The Indian government has launched a Simplified GST Registration Scheme to streamline the process for small and low-risk businesses. Eligible applicants can now receive registration within three working days, with businesses identified as low-risk through data analysis. This initiative aims to reduce paperwork, accelerate registration, and promote entrepreneurship, benefiting a significant majority of new applicants.
Diwali cheer comes early for Indian middle class as Sitharaman announces GST 2.0
Diwali arrives early for the Indian middle class. The GST Council reduces tax slabs to 5% and 18%. Food, essentials, and durables become cheaper. Families save money on various products. Personal care items and smaller cars also see tax cuts. Health insurance becomes exempt from GST. The new rates are effective from September 22, 2025.
GST 2.0 is here: From namkeens to biscuits, your kirana basket just got cheaper
India's GST 2.0 slashes taxes on mass-consumed goods like namkeens and biscuits, aiming to ease household budgets and stimulate demand. This significant indirect tax reset, following income tax cuts, seeks to boost disposable incomes and reinforce consumption-led growth.
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.
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