GST REFORMS
One clear benefit, four open questions: GST reform delivers a win for consumers but at what cost?
Recent GST reforms in India, eliminating the 28% and 12% slabs, aim for a simpler tax structure and fairness, potentially boosting the economy modestly. While the move may simplify some aspects, complexities persist, and concerns arise about long-term fiscal stability due to significant revenue losses.
Hyundai announces price cuts up to Rs 2.4 lakh following GST reforms: Check changes for each model here
Hyundai Motor India will pass on GST reform benefits to customers. The company announced significant price reductions across its passenger vehicle lineup. Effective September 22, 2025, Hyundai cars and SUVs will become more affordable. Price cuts will be up to Rs 2.4 lakh. This move aims to boost sales during the festive season.
'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.
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.
GST reforms could add Rs 20 lakh crore to GDP: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw announced upcoming GST and income tax reforms. These changes are expected in the 2025-26 budget. The reforms aim to boost India's economy significantly. Vaishnaw clarified that these reforms are unrelated to US tariffs. He highlighted the potential for increased consumption to drive GDP growth.
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.
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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 got nothing to do with any external factors: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw says the GST reforms began about a year and a half ago. These reforms are unrelated to external factors. The goal is to reform, perform, and transform the economy. The new GST rates will take effect on September 22, during Navratri. These changes aim to reduce the tax burden and boost economic growth.
New GST rates, coming into effect this Navratri, to boost economy: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw announced that the 2025-26 Budget's income tax relief and GST rate rationalization will significantly boost India's economy. Effective September 22, the GST reforms will simplify taxation, reduce rates on daily-use goods, and stimulate consumption, potentially adding Rs 20 lakh crore to the GDP.
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 reforms transformative, will ensure tax certainty: CBIC chief
CBIC Chairman Sanjay Kumar Agarwal announced transformative GST reforms aimed at providing tax certainty and stability for investors. While initial revenue may be slow, the reforms are expected to boost consumption and growth. The focus will shift to tackling tax evasion and enhancing the system, with the GST Appellate Tribunal expected to be operational by December.
GST reforms will mitigate US tariff impact on Indian economy, says secondary steel industry body
Yogesh Mandhani, president of AIIFA, stated that GST reforms have lessened the impact of US tariffs on India's economy and advocated for mining policy changes to lower steel production costs by increasing iron ore availability. He also urged for uniform power tariffs across the nation to enhance the competitiveness and capacity utilization of secondary steel producers, currently operating at 68-70%.
GST reforms will mitigate the US tariff impact on the Indian Economy
Yogesh Mandhani, President of AIIFA, stated that GST reforms have lessened the impact of US tariffs on India's economy and advocated for mining policy reforms to lower steel production costs by increasing iron ore availability. He also urged for power tariff rationalization and emphasized that targeting export markets could boost the capacity utilization of secondary steel producers, currently at 68-70%.
GST reforms bring big relief to diamonds and jewellery sector: GJEPC
The Gem and Jewellery Export Promotion Council (GJEPC) reports that recent GST reforms offer significant relief to India's diamond and jewellery sector. Exempting smaller diamond imports from IGST and reducing GST on jewellery boxes will lower costs for businesses and consumers.
Industry must pass on GST gains to buyers: Piyush Goyal
Piyush Goyal urges industry to pass on GST reduction benefits to consumers, anticipating boosted demand, exports, and economic growth. GST reforms, effective September 22, are expected to lower input costs for MSMEs and exporters, reducing inflationary pressures. India is also diversifying export markets amid US tariffs, exploring opportunities with countries like UAE and Singapore.
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 reforms: Maharashtra CM Fadnavis hails move, calls it result of PM Modi's farsighted vision
Devendra Fadnavis praised Narendra Modi's vision regarding GST. The GST Council approved changes to the indirect tax system. The new tax slabs will be effective from September 22. Fadnavis stated that Maharashtra is a leader in GST contributions. He added that the reforms will reduce the tax burden on citizens. Maharashtra supports these GST reforms.
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.
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.
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 reforms will mostly help poor; Andhra govt failed to demand compensation: CPI(M)
CPI(M)'s V Srinivas Rao acknowledged that GST reforms could lower prices and benefit the poor, but criticized the Andhra Pradesh government for not seeking compensation for potential income loss. APCC's Kolanukonda Sivaji claimed the reforms were a result of Rahul Gandhi's campaign and international pressure, demanding compensation for states and relief for MSMEs.
GST reforms set to boost FMCG, auto, insurance and hospitality sectors: Saurabh Mukherjea
India's Goods and Services Tax reforms are set to stimulate consumption and vital economic sectors. Saurabh Mukherjea highlights potential benefits for Fast-Moving Consumer Goods and the auto industry. He favors large-cap quality stocks. Insurance and business-focused hospitality also present opportunities. However, personal credit growth may face challenges due to job cuts. Mukherjea welcomes the reduced GST on popcorn.
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 rate cuts done, but market guru Nilesh Shah has a 4-5 times bigger worry than Modi's 'diwali gift'
Nilesh Shah welcomes the GST slab simplification but cautions about the bigger challenge of household savings being diverted into speculative avenues like F&O and Ponzi schemes. He estimates that the misallocation of savings poses a significantly larger risk to the economy than the fiscal impact of the GST reforms.
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.
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.
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