GST | DD News

October 29, 2025 12:55 PM

GST cuts, festive demand to lift India’s industrial growth in coming months: report

India’s industrial activity is expected to pick up over the next three months as recent GST rate cuts boost demand and spur output, Bank of Baroda said in a report on Wednesday. The announcement of GST reforms, combined with the ongoing festive season, is expected to boost consumption demand in the near term. This is likely to offset the prevailing uncertainty surrounding trade negotiations, the report noted. India’s industrial output growth, measured by the Index of Industrial Production ...

October 24, 2025 3:04 PM

GST rate cuts boost festive sales, reflect positive market sentiment: FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Friday said that India’s festive retail sales have reached a record high this year, reflecting the positive impact of the government’s economic reforms, including the rationalisation of Goods and Services Tax (GST) rates. Speaking at the inauguration of the new CGST Bhawan in Ghaziabad, the Finance Minister said the next phase of GST reforms will make the system more efficient, equitable, and growth-oriented. “I am confident that with continue...

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 10:43 PM

GST reforms to boost GDP by Rs 20 lakh crore: Ashwini Vaishnaw

Union Electronics and IT Minister Ashwini Vaishnaw on Monday said that the simplification of the Goods and Services Tax (GST) framework will significantly improve ease of doing business, boost demand, and add nearly ₹20 lakh crore to India’s GDP. Speaking to the media, Vaishnaw said the reform is being welcomed across the country as it allows people to save a greater share of their income and makes most everyday essentials more affordable. Targeting the opposition, the minister remarked th...

September 22, 2025 4:24 PM

GST 2.0 gives booster shot to coal sector

The GST 2.0 reforms have brought major changes to the coal sector’s taxation structure, benefiting both producers and consumers of the fossil fuel, the Ministry of Coal said in a statement on Monday. Under the new framework, the ₹400-per-tonne Compensation Cess previously levied on coal has been completely removed, while the GST rate on coal has been increased from 5% to 18%. Despite the higher GST rate, the overall tax incidence for end consumers will be lower, thanks to the elimination of...

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 21, 2025 2:08 PM

From cars to groceries: what gets cheaper under new GST structure

From automobiles and electronics to food items and medicines, as many as 375 goods and services will become cheaper from Monday as the new GST framework comes into effect. The GST Council’s decision to rationalise the tax structure from four slabs to just two — 5 per cent and 18 per cent — marks one of the most sweeping reforms since the introduction of the indirect tax regime. A special 40 per cent rate will continue to apply on luxury and sin goods, including tobacco, pan masala, sugary...

September 21, 2025 11:40 AM

GST reforms: Piyush Goyal urges industry to pass on full benefits to consumers

Union Commerce and Industry Minister Piyush Goyal has urged industries to ensure that the full benefits of GST rate rationalisation are passed on to consumers, ahead of a major overhaul of India’s indirect tax structure from September 22. The GST Council has reduced rates on hundreds of items — from soaps to small cars — and simplified the structure into primarily two slabs: 5 per cent and 18 per cent, along with a 40 per cent rate for luxury and sin goods. “Kindly ensure that we pass ...

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...