NEXT GENERATION GST

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.

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.

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.

Lower GST will boost India's economy significantly, says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman announced a new dual-slab GST structure expected to significantly boost India's economy. The government is also preparing a package for US tariff-affected export sectors and relentlessly working on next-generation policy changes. While not directly addressing tariff issues, the GST reform is anticipated to spur demand and provide some relief to affected sectors.

Govt to monitor GST rate cuts to ensure relief reaches common man: Minister

The finance ministry will closely monitor the implementation of reduced GST rates to ensure the relief reaches the common man, according to Minister Pankaj Chaudhary. This move, coupled with income-tax relief, aims to boost consumption. While income-tax relief benefits the middle class, GST relief will benefit a broader spectrum, including the poor, MSMEs, and others.

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.

Spreading the safety net farther and wider

Waiving GST on health and life insurance premiums, though potentially regressive, could boost insurance penetration and reduce the state's social security burden. This move aims to address affordability issues, attract foreign investment, and stimulate domestic consumption amidst slowing growth. Ultimately, it seeks to improve insurance sector reforms and mitigate external volatility.

Crucial drugs to be more affordable after GST cut

The government has significantly reduced GST rates on 41 highly priced medicines, including those for cancer, rare diseases, and heart conditions, aiming to make healthcare more affordable. Key drugs like Risdiplam and daratumumab will now have zero GST, benefiting patients with spinal muscular atrophy and multiple myeloma.

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.

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 reforms not correlated to Trump tariffs': Sanjeev Sanyal clarifies

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.

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.

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.

Parag Milk, other agriculture and dairy stocks rally up to 7% after GST cuts

Agri and dairy stocks like Parag Milk, Dodla Dairy, and Kaveri Seeds gained up to 7% after the GST Council slashed rates on fertilisers, farm machinery, and dairy products. The cuts, effective September 22, aim to ease costs for farmers and consumers.

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%.

Ambuja Cements, ACC and other cement stocks surge up to 4% after GST slashed from 28% to 18%

Cement stocks surged following the GST Council's decision to reduce the tax on cement from 28% to 18%. This move is expected to boost infrastructure and construction activity by lowering input costs. Jefferies views the rate cut as a positive step, potentially improving industry dynamics and profitability through better pricing and input tax credit benefits.

Adani Green, Waaree Energies and other renewable energy stocks in focus as GST cut to 5% from 12%

Renewable energy stocks like Adani Green, Tata Power, NTPC, and Waaree Energies in focus after the GST Council cut tax on solar, wind, biogas, and other clean energy devices and parts to 5% from 12%, lowering costs for developers and boosting green transition.

'Ek teer kai nishaan!': From combating Trump’s tariffs to inflation — why Kotak AMC's Nilesh Shah says GST 2.0 hits many targets

Shah also underlined the urgency behind the Council’s push, pointing out that “completing two days GST council meeting in one day does show the urgency.” At the same time, he stressed the need for vigilance against misuse. “While the leakages and fraud of GST needs to be dealt with iron hand, process improvement should be a continuous affair with feedback loop,” he wrote.

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.

Will insurance premiums become cheaper in GST 2.0?

The GST Council has eliminated the 18% tax on health and life insurance premiums, a move under PM Modi's GST 2.0 reforms aimed at simplifying the tax structure. This exemption is expected to lower premiums, potentially boosting demand and increasing insurance accessibility for a wider population, though insurers may face short-term margin pressures.

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.

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.