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Searched Tag: gst 2 0 reforms
The tax rate on non-economy flight tickets, which is now at 18 per cent, will also have the Input Tax Credit (ITC). The GST on economy class tickets, however, remains unchanged at 5 per cent

Flying luxury may burn a hole in your pocket from Sept 22

September 4, 2025, 08:42 PM - 3 min read

With business and premium economy flight tickets to cost more on higher GST rates from September 22, flying ‘high’ may not be that easy after all

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Garments, including apparel and textiles which are knitted, and whose sale value does not exceed ₹2,500 per pair, have been put in the 5 per cent GST slab from a previous 12 per cent slab, but those exceeding ₹2,500 per pair will be taxed at the previous 18 per cent

Garment ind unhappy with higher GST, says will hurt middle class

September 4, 2025, 07:01 PM - 3 min read

With the GST on garments categorised on the basis of their M.S.P., garment industry bodies say the move will make a dent in middle-class affordability and weaken the country’s retail and garment sector

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The government’s decision to slash GST rates on renewable energy devices and parts from 12 per cent to 5 per cent is expected to give a big push to the Centre’s green energy goals

Push to clean energy as tax lowered on devices

September 4, 2025, 05:43 PM - 4 min read

The government’s decision to slash GST rates on renewable energy devices and parts from 12 per cent to 5 per cent is expected to give a big push to the Centre’s green energy goals

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A rate cut on several dairy products, fertilisers, bio-pesticides, and agricultural equipment by the GST Council in its latest Goods and Services Tax reforms is being widely seen as a farmer-friendly move that will boost the country’s agrarian economy

Farmers hail GST rate cuts on agri products as ‘Diwali gift’

September 4, 2025, 05:20 PM - 3 min read

A rate cut on several dairy products, fertilisers, bio-pesticides, and agricultural equipment by the GST Council in its latest Goods and Services Tax reforms is being widely seen as a farmer-friendly move that will boost the country’s agrarian economy

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Not only will this step bring relief to patients and their families, improve accessibility of medicines and quality healthcare, it will also reduce the financial strain on healthcare providers, opined pharmaceuticals and healthcare industry players on Thursday

Pharma ind terms GST cut on drugs, medical supplies 'historical'

September 4, 2025, 03:47 PM - 3 min read

The GST Council has made a bold move to remove GST on 33 life-saving drugs and three critical drugs, placing healthcare above profit, said representatives from top pharmaceutical companies in India

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Expectedly, insurance stocks soared on Thursday, with Star Health and Allied Insurance Company surging over 9 per cent, Niva Bupa Health Insurance Company zoomed 9 per cent, ICICI Prudential Life Insurance Company jumped 5.70 per cent, ICICI Lombard General Insurance Company rallied 5 per cent, Life Insurance Corporation of India climbed 5 per cent, HDFC Life Insurance Company went up 4.90 per cent and SBI Life Insurance Company surged 4.88 per cent on the BSE

Insurance stocks shine as life, health insurance exempt from GST

September 4, 2025, 03:06 PM - 5 min read

One of the many outstanding decisions of the rationalisation is that GST has been exempted on individual life insurance, including term, ULIP, and endowment plans and reinsurance services. Currently, premium payment on such policies attracts an 18 per cent tax

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The Indian automotive sector has welcomed the GST Council’s decision to cut tax rates on various categories of automobiles, saying it is timely and will significantly benefit first-time buyers and middle-income families

Auto ind backs ‘growth-spurring’ GST rate-cuts

September 4, 2025, 01:58 PM - 4 min read

The GST Council’s decision to slash GST on various categories of automobiles has been hailed by the auto industry, saying the new rates will benefit first-time buyers and middle class families

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The new tax slabs are now limited 5 per cent and 18 per cent, effective from September 22, the first day of Navaratri

Sensex jumps 900 points as auto stocks surge on GST reforms

September 4, 2025, 12:38 PM - 5 min read

The mood was celebratory for the Indian stock markets as benchmark equity indices Sensex and Nifty surged in early trade on Thursday after the GST Council approved a complete overhaul of the eight-year-old Goods and Services Tax regime

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The Council approved a dual tax structure of 5 per cent and 18 per cent, effectively removing the slabs of 18 per cent and 28 per cent

GST Council meet Day 1: New tax likely to be levied from Sept 22

September 3, 2025, 11:10 PM - 3 min read

The new Goods and Services Tax (GST) is most likely to become effective from September 22, and will result in slashing of rates of hundreds of items, said the GST Council after the first day of its two-day meeting

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Karnataka, Himachal Pradesh, Jharkhand, Kerala, Punjab, Tamil Nadu, Telangana, and West Bengal have asked for compensation to all states for a period of five years, with 2024-25 as the base year, once the GST reforms are rolled out

Eight states demand fair disbursal of GST rate-cut benefits

August 30, 2025, 04:59 PM - 4 min read

Karnataka, Himachal Pradesh, Jharkhand, Kerala, Punjab, Tamil Nadu, Telangana, and West Bengal have asked for compensation to all states for a period of five years, with 2024-25 as the base year, once the GST reforms are rolled out

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While the incoming GST reforms have been hailed by the industry, businesses, and people, there has also been concern about the massive revenue losses that the Indian economy will eventually have to face

GST reforms to drive up consumption and growth, says report

August 20, 2025, 03:30 PM - 3 min read

A report by the State Bank of India (SBI) has said the GST reforms will positively impact the Indian economy, despite revenue losses being pegged at up to ₹85,000 crore annually

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The objective of this reform is to make GST simpler and revise rates, said the PM

PM urges states to cooperate in implementing GST reforms proposal

August 17, 2025, 04:59 PM - 3 min read

Proposed GST rate tweaks on automobiles to end classification disputes; Prime Minister Narendra Modi said “next-generation” changes in the new tax structure will “expand good governance”

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