Goods and Services Tax

September 26, 2025 4:21 PM

GST 2.0 a ‘positive tsunami’ for auto industry: Maruti Suzuki

Maruti Suzuki India Ltd (MSIL), the country’s largest passenger vehicle manufacturer, has hailed GST 2.0 as a “positive tsunami” for the auto industry. In an interview with ANI, Partho Banerjee, Senior Executive Officer, Marketing & Sales, said dealer partners are working round-the-clock to deliver vehicles to customers. "Our finance partners are busy sanctioning loans as soon as possible and giving delivery orders so that we can deliver cars to customers. The reason behind this rush...

September 22, 2025 10:45 PM

GST Bachat Utsav: PM Modi urges citizens to support swadeshi products in letter to nation

Prime Minister Narendra Modi on Monday extended festive greetings to the nation as Navaratri began, while also urging citizens to support locally made products and celebrate the launch of the “GST Bachat Utsav” (GST Savings Festival). In a letter to the nation, PM Modi highlighted the rollout of Next Generation GST reforms starting September 22, calling them a milestone in reducing household expenses, simplifying business operations, and promoting economic growth across all sections of soci...

September 22, 2025 3:43 PM

GST reforms to boost India’s GDP by 0.8%, benefit all sections of society: Hardeep Singh Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday said that the implementation of the new Goods and Services Tax (GST) reforms will not only bring immediate relief to consumers but also boost India’s gross domestic product (GDP) growth by 0.8 per cent, strengthening the country’s economic momentum at a time of global uncertainty. Speaking to ANI on the day the reforms came into force, Puri said, “Apart from Navratri, the budget utsav has begun. There is a wave of happi...

September 22, 2025 10:25 AM

GST 2.0 takes effect today, major tax reforms to ease prices for consumers

The Government of India on Monday implemented a major overhaul of the Goods and Services Tax (GST) regime, introducing a simplified two-tier tax system and revised rates for over 375 items, aimed at easing prices for consumers across the country. Under the new GST structure, most goods and services will now be taxed at either 5 per cent or 18 per cent, replacing the previous four-slab system. A higher rate of 40 per cent will apply only to ultra-luxury items, sin goods, and other demerit produc...

September 19, 2025 1:44 PM

GST 2.0 to enhance ease of living, doing business: PM Modi

Prime Minister Narendra Modi on Friday said that the latest Goods and Services Tax (GST) reforms are not just technical adjustments but bold steps aimed at improving the ease of living, ease of doing business, and ease of investing in India. “By lowering rates on everyday foods and packaging, these reforms make groceries more affordable, boost MSMEs, support farmers, and enhance India’s global food competitiveness,” PM Modi said in a post on X. The Prime Minister was responding to an art...

September 19, 2025 9:56 AM

GST reduction on drones to encourage wider adoption, boost domestic manufacturing

The government's move to slash the Goods and Services Tax (GST) on unmanned aircraft systems (drones) from the earlier 18–28 percent range to a uniform 5 percent, is expected to accelerate drone adoption across sectors and boost domestic manufacturing under the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives. According to an official statement, the uniform tax rate will eliminate classification disputes, provide policy certainty, and create a more predictable business environment...

September 12, 2025 1:39 PM

Affordable Vehicles, Stronger Industry: India’s New GST Reforms in Automobiles

India has just implemented a comprehensive set of Goods and Services Tax (GST) reforms targeted specifically at the automobile sector, a move that aims to make vehicles more affordable, support Micro, Small & Medium Enterprises (MSMEs), boost demand, and enhance domestic manufacturing. Announced via a PIB factsheet on 11 September 2025, the reforms reduce GST rates across many vehicle categories and auto components. The government’s goal is not just to lower prices, but to foster a healthi...

September 1, 2025 5:02 PM

GST collections rise 6.5% in August to Rs 1.86 lakh crore

India’s Goods and Services Tax (GST) collections rose by 6.5% year-on-year to ₹1.86 lakh crore in August 2025, according to government data released on Monday. This marks the eighth consecutive month that revenues have remained above the ₹1.8 lakh crore mark, reflecting robust domestic consumption and steady economic activity. During August, gross domestic GST revenue grew 9.6% to ₹1.37 lakh crore, while tax from imports slipped 1.2% to ₹49,354 crore. Refunds fell sharply by 20% year-...

August 18, 2025 1:22 PM

GST overhaul, policy easing to boost consumption, domestic demand in India: Morgan Stanley

A likely overhaul of Goods and Services Tax (GST) rates, coupled with support from other measures such as personal income tax cuts, monetary policy easing, signs of pickup in job growth and improving real wages, improves the outlook for consumption and domestic demand in India, a Morgan Stanley report said on Monday. The proposed new GST regime will likely have meaningful impact on growth, fiscal balance and Consumer Price Index (CPI) inflation, with implications for monetary policy. In the ne...

August 15, 2025 9:00 AM

PM Modi promises GST overhaul ahead of Diwali; says the review is need of the hour

Prime Minister Narendra Modi, in a bold Independence Day declaration, announced the formation of a high-level task force to spearhead next-generation reforms across governance, taxation, and public service delivery. Addressing the nation from the Red Fort on Friday, PM Modi said, “We have decided to form a task force for next-generation reform. Our aim now is to bring about all kinds of reforms.” In a festive note, the Prime Minister promised a “double Diwali” for citizens this year, h...