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Govt keeping 'good watch' on rupee, several currencies declined against USD: Sitharaman
Finance Minister Sitharaman stated the government is closely monitoring exchange rates as the rupee depreciates against the strengthening US dollar, a trend affecting multiple currencies. The rupee hit a record low amid concerns over US tariffs, including a 50% levy on Indian goods.
Spurt in consumption to drive revenue buoyancy, to meet fiscal deficit target of 4.4%: Sitharaman
Finance Minister Nirmala Sitharaman anticipates that increased consumption will offset the Rs 48,000 crore GST shortfall resulting from tax rate reductions. She believes this consumption boost, along with strong Q1 GDP growth, could surpass the projected 6.3-6.8% GDP growth for FY26. The GST overhaul, effective September 22, aims to benefit all citizens through rationalized tax rates on various products.
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 rate cuts to benefit 10 crore dairy farmers: Ministry of Cooperation
The GST rate cuts on dairy products, farm inputs, and food processing items are set to positively impact over 10 crore dairy farmers and bolster the cooperative sector, according to the Ministry of Cooperation. This restructuring addresses inverted duties in fertilizer manufacturing, aiming to stabilize prices for farmers and ensure timely input availability.
GST 2.0 & the great Indian price puzzle: Middle class cheer or boardroom bonus?
India is on the verge of GST 2.0, aiming to simplify the tax structure and boost demand. Essential goods may see reduced rates, benefiting consumers, while companies could strategically reprice products. The reform balances revenue concerns with the potential for increased consumption, impacting both household budgets and corporate strategies.
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.
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GST 2.0 to boost FMCG consumption, larger packs items to get benefit from price cuts: Nuvama Report
A new report suggests that the FMCG sector in India is set to benefit from recent GST rate revisions. Nuvama's report indicates that tax cuts will likely lower consumer prices and improve company margins. Categories like biscuits and toothpaste will see changes. Britannia and Hindustan Unilever are expected to gain significantly. However, rates for detergents and cosmetics remain unchanged.
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.
HDFC Life shares in focus as revised GST structure to kick in from September 22
HDFC Life shares: The insurer announced adoption of the revised GST structure on all insurance products from September 22, 2025. The company said the GST cut will make policies more affordable, boost demand, and aid long-term growth
Pharma companies cheer lower drug prices, API tax gap stirs worry
Goods and Services Tax reforms are expected to reduce medicine prices in India. Experts say this will benefit patients and businesses. However, concerns exist regarding the higher tax rate on Active Pharmaceutical Ingredients. This could increase working capital pressure, especially for smaller companies. Provisional refunds may help mitigate these challenges. The government has reduced GST on several expensive medicines.
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 rate cut to spur demand in Rs 19 lakh cr dairy industry: Government
The government is set to implement new GST rates for the dairy sector. Most dairy products will either be tax-exempt or attract only a 5% tax. Ultra-high temperature milk and paneer will have no GST. Butter, ghee, cheese, and ice cream will be taxed at 5%. This reform aims to boost the dairy sector and benefit farmers and consumers.
GST on salon services & health clubs: Did your beauty treatment get cheaper?
Good news for salon-goers! The GST Council has slashed the tax on beauty and wellness services, including salons and health clubs, from 18% to 5%. This reduction aims to make these services more affordable for consumers. Additionally, GST rates on personal care products like soaps and shampoos have also been reduced to 5%, easing the financial burden on households.
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 2.0: Tax cuts offer hope, but not a cure for Trump’s 50% tariff blow to exporters
The GST Council, chaired by Finance Minister Nirmala Sitharaman, on Wednesday rationalised the tax structure by moving most items from the 12% and 18% brackets to 5%.
RAI suggests moving to flat GST rate across product categories instead of price-based thresholds
Retailers Association of India suggests a uniform Goods and Services Tax rate. Current price-based system creates market distortions. RAI emphasizes that the present GST structure impacts organized retail negatively. It also affects domestic manufacturing. RAI anticipates GST reform will lower consumer prices. They also seek reduced GST on commercial rentals. RAI suggests lower taxes on garments and footwear for affordability.
GST rate cuts will improve affordability and give a fillip to consumption: Morgan Stanley
Morgan Stanley anticipates a significant boost in consumption due to the GST structure rationalization, particularly benefiting low-income households. Effective from September 22, the simplified two-rate system will make various goods and services more affordable, coinciding with the festive season.
GST Council approves highest tax rate of 40% on these goods
The GST Council has approved raising taxes on sin goods to 40% as part of a broader GST 2.0 overhaul, simplifying the tax structure to two main slabs. This move, expected by Diwali 2025, aims to discourage consumption of harmful goods while boosting government revenue. It also strategically counters new US tariffs on Indian goods.
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.
Explained: Why ITC shares jumped after GST overhaul hit cigarettes
ITC Limited shares experienced a surge following the government's GST revision. The GST Council is streamlining tax slabs, potentially benefiting ITC. Brokerages predict a possible reduction in ITC's tax burden. A new 40% tax slab is proposed for certain goods. Experts believe this shift could lower prices and boost competitiveness against illicit markets.
ITC shares surge 3% on GST tweaks in cigarettes, other tobacco products
ITC shares experienced a surge following the GST Council's announcement that the existing 28% GST plus compensation cess on tobacco products will persist until related borrowings are cleared. Subsequently, a revised 40% GST slab based on retail selling price will be introduced.
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.
GST 2.0 with two-slab structure to roll out from September 22
India's GST framework is undergoing a significant overhaul, set to begin on September 22nd, simplifying the existing four slabs into a two-rate system of 5% and 18%. Essential goods will be taxed at 5%, while most others will fall under the 18% standard rate. However, tobacco products will maintain current rates until compensation cess obligations are met.
GST Council slashes tax on personal-care items like shampoo, toothpaste, hair oil to 5%
The GST Council has agreed to reduce the tax rate on essential personal care items like hair oil, toothpaste, and shampoo from 18% to 5%, benefiting consumers and companies like Hindustan Unilever and Godrej Industries. This move, part of the broader GST 2.
Legal and regulatory landscapes set to transform with InsurTech and AI in insurance: Lokanath Prasad Kar, ElpeeCo
India's insurance sector is rapidly evolving, driven by new risks and technological advancements. While IRDAI's "Use & File" approach fosters product innovation, pricing remains a challenge due to limited claims data. Focus should shift towards popularizing insurance as a risk management tool, with InsurTech playing a crucial role in accessibility.
The great middle squeeze — why brands serving the mid-tier are collapsing
The middle class is facing economic pressures, leading to a collapse of the center in various sectors like politics and sports. Businesses catering to the middle are struggling due to high costs and lack of differentiation. Successful brands now focus on either mass appeal or niche markets, requiring a fundamental rethinking of business models to thrive in this evolving landscape.
States to gain from GST rate rationalisation: Report
An SBI Research report projects states to be 'net gainers' from the proposed GST rate rationalization, with revenue exceeding ₹14.10 lakh crore this fiscal year. While an initial dip is possible, states are expected to gain ₹10 lakh crore in state GST and ₹4.1 lakh crore through devolution in FY26.
Fitment panel clears two-slab GST structure
The GST Council is set to consider a proposal for a simplified two-slab GST structure of 5% and 18%, along with a 40% rate for sin and luxury goods. This move, recommended by the fitment committee, aims to lower the tax burden on common household items, potentially reducing it by 12-15%.
Markets look to GST cuts for boost; consumption, auto and metals stocks in focus: Deven Choksey
Deven Choksey expects GST cuts to spark a demand revival across FMCG, autos, and manufacturing, with metals, power distribution, defence, sugar, and PSUs also offering selective opportunities. He sees pent-up demand reflecting from the September quarter.
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