GST on 33 cancer drugs, rare disease medicines slashed to 0 from 12 pc: FM Sitharaman

September 4, 2025 10:13 AM

GST on 33 cancer drugs, rare disease medicines slashed to 0 from 12 pc: FM Sitharaman

In a historic move, the Union government has slashed the Goods and Services Tax (GST) rates for 33 cancer drugs and rare medicines -- from 12 to zero per cent. The decision taken by the GST Council, chaired by Finance Minister Nirmala Sitharaman, on Wednesday, rationalised the indirect tax structure, cutting the current four slabs down to two -- scrapping the 12 per cent and 28 per cent rates, while retaining the 5 per cent and 18 per cent slabs. "GST on 33 life-saving drugs and medicines has ...

GST 2.0: Small cars, 2-wheelers to get cheaper ahead of festive season

September 4, 2025 9:47 AM

GST 2.0: Small cars, 2-wheelers to get cheaper ahead of festive season

The GST rate rejig will make small cars and two-wheelers cheaper and big SUVs also are set to become affordable, as the festive season inches closer. The GST Council has approved transformational changes to India's indirect tax structure — adopting a 5 per cent and 18 per cent tax structure — and several daily-use goods will become cheaper from September 22. Reducing GST on small cars to 18 per cent is a big boost for the auto industry, especially with the festive season around the corner....

PM Modi’s GST reform to cheer common people, five reasons why it matters for one and all

August 26, 2025 12:10 PM

PM Modi’s GST reform to cheer common people, five reasons why it matters for one and all

The Prime Minister's 15 August speech from the ramparts of the Red Fort always brings a smile to one and all. However, the 79th Independence Day speech delivered by PM Narendra Modi -- in the backdrop of Donald Trump's tariff policies and geopolitical ruckus -- is seen as the Mahabharata's famous “Sudarshan Chakra” which is on its course to safeguard India's financial sovereignty from global headwinds and international roadblocks. Whenever India faces the rattles of international disruptio...

GST 2.0 to unleash consumption boost, higher tax revenue, lower inflation

August 20, 2025 12:45 PM

GST 2.0 to unleash consumption boost, higher tax revenue, lower inflation

According to an SBI Research report, proposed GST 2.0 reforms are expected to provide a net positive impact on the Indian economy, despite a projected revenue loss. The report estimates an average annual revenue loss of around Rs 85,000 crore from the reforms, with the figure for FY26 projected at Rs 45,000 crore. It suggests that this headline loss could be contained by shifting "sin goods" from the current 28% slab to a higher 40% slab. On the stimulus side, the reforms are expected to direc...