GST Reforms | DD News

September 10, 2025 11:46 AM

GST reforms to benefit one lakh farmers in Gujarat, purchase deadline extended

Gujarat Agriculture Minister Raghavji Patel announced that the state government has extended the deadline for farmers to purchase tractors and farm equipment under the Agricultural Mechanisation Scheme, enabling them to benefit from the revised GST rates, set to take effect from September 22. Under the reforms, GST on tractors has been reduced from 12 per cent to 5 per cent, while tyres and other tractor parts have seen a cut from 18 per cent to 5 per cent. Similarly, GST on farm mechanisation ...

September 8, 2025 4:20 PM

Swadeshi, Atmanirbhar Bharat key to overcoming global challenges: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Monday said India has the strength to face any global challenge and called on businesses to focus on swadeshi products and self-reliance to ensure financial security. Speaking at the 56th EEPC India National Awards in New Delhi, Goyal warned that export controls and restrictions by other countries could disrupt supplies to India, and stressed the need for reducing dependence on imports. “Atmanirbhar Bharat is a call to action that everyone must a...

September 7, 2025 10:50 AM

GST revamp to benefit small and medium farmers: Minister

The GST reforms will have a wide-scale impact on the agriculture sector, benefitting small and medium farmers because due to reduced GST rates on agricultural equipment, the cost of agriculture will decrease, and farmers' profits will increase, according to Union Agriculture Minister Shivraj Singh Chouhan. The GST on bio-pesticides and micro-nutrients has been reduced, which will benefit farmers. Also, the trend of farmers towards bio-fertilisers from chemical fertilisers will definitely incr...

September 6, 2025 4:55 PM

GST reductions to boost cooperatives, farmers, rural enterprises: Ministry

The sweeping GST reforms unveiled this week will strengthen the cooperative sector, make their products competitive, increase demand for their products and increase the income of cooperatives, the Ministry of Cooperation has said. According to a statement, the GST reforms will promote rural entrepreneurship, promote cooperatives in the food processing sector and ensure affordable access to essential goods for millions of households. "GST rate reductions will benefit cooperatives in farming and...

September 6, 2025 12:55 PM

GST 2.0: India’s bold tax reforms and the push for self-reliance

In the sweltering heat of India's Independence Day celebrations on August 15, 2025, Prime Minister Narendra Modi stood atop the historic Red Fort in Delhi, addressing a nation brimming with anticipation. Amidst his speech on national progress and economic resilience, he unveiled a pivotal announcement: the initiation of next-generation Goods and Services Tax (GST) reforms. This marked a significant milestone in India's fiscal landscape, building on the foundational GST system introduced in 2017...

September 6, 2025 11:09 AM

Indian stock market gains in volatile week amid GST reforms

Indian equities ended marginally higher this week as initial optimism around GST rationalisation trickled down, but global trade tensions resurfaced. Benchmark indices Nifty and Sensex ended the week with a gain of around 0.85%, with the focus shifting to mid- and small-cap stocks. The Nifty IT slipped over 2.5% this week amid concerns over reduced discretionary spending, driven by economic uncertainty, elevated rates, and geopolitical risks. Sector-wise, Nifty Metal and Auto indices gained ...

September 5, 2025 12:37 PM

GST reforms to help textiles sector reach $350 billion by 2030: Govt

The next-generation GST reforms mark a historic leap forward for India’s textile sector, serving as a catalyst for the country’s journey towards becoming a $350 billion textile economy by 2030, the government has said. The Ministry of Textiles reaffirmed its commitment to work closely with industry stakeholders, exporters, artisans, and entrepreneurs to ensure the smooth implementation of these reforms. According to the ministry, the landmark measures are expected to reduce costs, remove s...

September 4, 2025 7:52 PM

GST Reforms: Generous, Simplified, and Timed Well

The Narendra Modi Government is in a hurry, and for all the good reasons. An income tax cut for all those earning up to Rs. 12 Lakh per annum and rejigging the GST slabs in the same calendar year are signs of intent and commitment. The Modi Government wants people to consume more, for people to be able to afford more, for MSMEs to be able to sell more, and for small entrepreneurs to be able to manufacture more. The 7.8 per cent growth rate in the first quarter of the ongoing financial year has ...

September 4, 2025 4:53 PM

GST rate cut across fisheries value chain to boost India’s Blue Economy: Govt

The fisheries sector has received a major boost under the latest GST reforms with a significant tax rate rationalisation, which will help in the reduction of operational costs, enhance competitiveness in domestic and export markets, and directly benefit millions of fish farmers and other stakeholders dependent on fishing and aquaculture for their livelihoods in the country, an official statement said on Thursday. Under the revised structure, GST on fish oils, fish extracts, and prepared or pr...

September 4, 2025 3:03 PM

India likely to grow 6.5 percent this fiscal; GST 2.0 to aid long-term growth: NITI Aayog’s Virmani

India is expected to log GDP growth of around 6.5 per cent in the current fiscal despite global headwinds, with GST 2.0 reforms set to provide a long-term boost to the economy, NITI Aayog Member Arvind Virmani said on Thursday. Speaking to IANS, Virmani said the Indian economy has shown strong resilience to external shocks in recent years, and reforms like GST will further strengthen its foundations. “From the beginning, we have been saying that GDP growth this year will be around 6.5 per ce...