Author: admin_gst

ITC chief hails next-gen GST reforms as 'historic moment'
GST
Dated:- 22-9-2025
PTI
Kolkata, Sep 22 (PTI) ITC Ltd Chairman and Managing Director Sanjiv Puri on Monday described the rollout of next-generation GST reforms as a “historic moment” that would make products more affordable, boost consumption, and energise small and medium enterprises.
In a LinkedIn post, Puri welcomed Prime Minister Narendra Modi's announcement of the reforms on the eve of Navratri, calling it “far-sighted

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New GST rates kick in; groceries, medicines, electronic items, cars get cheaper
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds.
Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
FMCG, car companies, electronics manufacturers and pharma companies have lowered prices. As many as 375 items, including groceries, agri-equipment, clothing, medicines and auto

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ng a family vacation,” the Prime Minister said in an open letter.
As per government estimates, there would be a saving of 13 per cent in the household bills for groceries and daily essentials, while a small car buyer could save around Rs 70,000.
Stationery, clothing, footwear and medicines purchases would bring in savings in the range of 7-12 per cent, while the savings would go up to 18 per cent in the case of individual health and life insurance policies, which have been exempt from GST.
There would be a savings of Rs 40,000 on the purchase of tractors up to 1800 cc. GST rate has been cut to 5 per cent on tractors from the earlier 12-18 per cent.
In case of bikes/scooters (up to 350 cc) purchase, savings would be Rs 8,000, while i

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withdrawing the additional GST burden (on people), and the Centre should not take undue credit for it. The Centre won't have to spend a single paisa. Every state will have to find ways to tide over the revenue loss,” Banerjee said.
Karnataka Chief Minister Siddaramaiah accused Modi of “deceiving” Indians.
“It was Modi who implemented GST, it was Modi who increased GST rates, and now it is Modi who is patting himself on the back. We were the ones who opposed when GST was increased to 18 per cent and 28 per cent. The very people who collected it all these years are now taking credit. See how cleverly they are deceiving Indians. You should not fall for this,” Siddaramaiah added.
Telangana Chief Minister A Revanth Reddy on Monday demande

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Changes in GST will not cause any losses to Himachal Pradesh: BJP national president
GST
Dated:- 22-9-2025
PTI
Shimla, Sep 22 (PTI) The BJP here on Monday slammed the Congress's criticism of recent GST reforms, claiming that the state does not stand to suffer losses with the new inter-state slabs.
Addressing a press conference here, BJP natioanl spokesperson Gopal Krishna Agarwal said Himachal Pradesh is recording a 14 per cent annual growth in GST and integrated-GST collections.
In 2023-24, the state received Rs 5,339 crore from GST and Rs 2,845 crore from integrate-GST, totalling Rs 9,375 crore, he said.
“Additionally, through grant-in-aid, the state received Rs 14,942 crore from the Centre taking the total to Rs 24,317 cro

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MP CM Yadav urges people to adopt 'swadeshi', hails GST reforms
GST
Dated:- 22-9-2025
PTI
Bhopal, Sep 22 (PTI) Madhya Pradesh Chief Minister Mohan Yadav on Monday appealed to people, organisations and businesses to go “swadeshi” and promote 'Made in India' products, citing that Prime Minister Narendra Modi has given the nation a gift by way of GST reforms.
Earlier in the day, PM Modi said the next generation GST reforms will boost savings and directly benefit every section of society, and asserted that it is imperative to walk on the path of self-reliance to achieve the collective goal of Viksit Bharat by 2047.
Yadav, during an interaction with businesses, social organisations and in the busy Somwara Bhawani Chowk area, said t

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fourth-largest economy to the third-largest. By embracing the spirit of Swadeshi, we must move forward and contribute to making India the number one country in the world,” he said.
“Products made here should be consumed here, and goods made here should be exported to the world. Our government has no shortage of funds for farmers, women, youth, and the poor,” he said.
The reduction in GST rates on clothing and other items has boosted people's enthusiasm for the Navratri festival.
“The Central government has reduced the GST rate on clothing to just 5 per cent. I also purchased khadi clothes today. Swadeshi products have been India's hallmark in the world,” he said.
The chief minister made a digital payment for the clothing purchased and

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Guidebook on Mapping of Harmonized System of Nomenclature (HSN) Codes unveiled byUnion Minister of Commerce & Industry, Shri Piyush Goyal
GST
Dated:- 22-9-2025

The Guidebook marks a pivotal milestone in the journey of India towards Viksit Bharat@2047 by serving as a catalyst for sharper policy interventions and effective trade negotiations through mapping of products to their relevant Ministries and Departments: Shri Goyal
Union Minister of Commerce and Industry, Shri Piyush Goyal, released the Guidebook on Mapping of Harmonized System of Nomenclature (HSN) Codes prepared by the Department for Promotion of Industry and Internal Trade (DPIIT) on 20th September 2025 during the event on “Celebrating 10 Years of Make in India and Discussion on Next Gen-Reforms 2.0” in New Delhi. The Guidebook which provides allocation of 12,167 HSN Codes to 31 Ministries and Departments of the Government of India, aims to promote the adoption of data-driven approach for manufacturing dev

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ions, import substitution efforts and redressal of industry concerns due to the absence of definitive mapping of HSN Codes. Further, unmapped Codes were misclassified as 'Residual Products' due to unclear ownership. To address the matter, DPIIT followed a holistic and proactive approach, by undertaking the value-chain and use-case analysis for each of the 12,167 HSN Codes sourced from the Central Board of Indirect Taxes and Customs (CBIC) Tariff Manual.
Following this, a thorough review of the Allocation of Business (AoB) Rules, 1961, was done for mapping of each HSN Code based on the nature and end-use of the product. Once the preliminary mapping was completed, several Inter-Ministerial Consultations, multiple Joint Working Group meetings, over 300 one-on-one meetings with Ministries and Departments, and numerous Industry Stakeholder consultations were conducted. The feedback received was systematically analyzed and incorporated to ensure reflection of ground-level realities.
The ex

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the World” pillar is dedicated to support more effective trade negotiations, thereby, enabling Indian products to capture a greater share in international markets.
In conclusion, the Guidebook on Mapping of HSN Codes is not merely a classification exercise but a strategic instrument for shaping the industrial future of India. It empowers Ministries and Departments to adopt an outcome-oriented approach to economic growth and development by streamlining custodianship of products. As India advances towards establishing itself as a global manufacturing hub, this Guidebook becomes pivotal in aligning policy, investment, and trade related matters. With the Guidebook as a catalyst, India is equipped to convert its industrial ambition into international leadership by laying the foundation for a robust and future-ready economy by 2047.
Picture 1: Shri Piyush Goyal, Minister of Commerce and Industry Releases the Guidebook on Mapping of Harmonized System of Nomenclature (HSN) Codes
Picture 2:

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Union Minister of Commerce and Industry Shri Piyush Goyal releases the “Guidebook on Mapping of Harmonized System of Nomenclature (HSN) Codes”
GST
Dated:- 22-9-2025

Guidebook on 12,167 HSN Codes launched to support policymaking and trade negotiations
On the occasion of the decade-long celebrations of Make in India, the Union Minister for Commerce and Industry, Shri Piyush Goyal, today in New Delhi released the Guidebook on Mapping of Harmonized System of Nomenclature (HSN) Codes, prepared by the Department for Promotion of Industry and Internal Trade (DPIIT).
The Guidebook allocates 12,167 HSN Codes across 31 Ministries and Departments, and is expected to enable targeted policymaking and support effective trade negotiations.

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State-owned Aavin reduces prices of ghee, DMK demands roll-back of GST
GST
Dated:- 22-9-2025
PTI
Chennai, Sep 22 (PTI) The state-owned enterprise Aavin slashed the prices of ghee and announced that the prices for its other products will be revised in accordance with the ‘GST 2.0’, coming into effect from Monday.
The DMK, however, has demanded a roll-back of the GST, while the BJP here said the comprehensive overhaul of the GST, coming into effect with the commencement of Navarathri festival, was a “gift” by Prime Minister Narendra Modi.
“As promised by our prime minister, the historic GST reforms have come into effect from today as a Diwali gift to the people,” BJP state chief Nainar Nagenthran said.
DMK MP Thanga Tamilselvan

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Centre passed financial burden to states after lowering GST rates, claims Mamata
GST
Dated:- 22-9-2025
PTI
Kolkata, Sep 22 (PTI) West Bengal Chief Minister Mamata Banerjee on Monday accused the Centre of having passed the financial burden to states after lowering GST and taking “undue credit” for it.
After inaugurating a Durga Puja here, Banerjee said that though the state is set to incur Rs 20,000 crore as revenue loss due to the lowering of GST, she welcomed the decision as it will benefit the common man.
The new GST structure came into effect across the country on Monday.
“It was I who had asked for withdrawing the additional GST burden (on people), and the Centre should not take undue credit for it. The Centre won't have

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Sikhs and Christians – take part in the Durga Puja festivities in the state.
“Our strength is unity in diversity,” the Trinamool Congress supremo said.
Alluding to the issue of alleged harassment of Bengali-speaking migrants in some BJP-ruled states, she said, “I love every language, but I can't accept the insult to our language.” Banerjee said none should sow seeds of religious division, as Durga, Vaishno Devi, and Kali are the same goddess.
“Why should we divide ourselves into factions and fight when every religion talks about reaching God through their respective paths?” she said.
The chief minister also asked people to remain vigilant against those who attempt to divide them.
“Please be respectful of others, their culture, dialect

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Siddaramaiah slams PM Modi over GST reforms, calls him 'deceptive'
GST
Dated:- 22-9-2025
PTI
Mysuru (Karnataka), Sep 22 (PTI) Karnataka Chief Minister Siddaramaiah slammed Prime Minister Narendra Modi for claiming credit for the new GST reforms, which took effect on Monday, calling his actions “deceptive”.
Speaking at the inauguration of the Dasara food festival at MaharajaÂ’s College Grounds here, the CM sought to know whether PM Modi, who collected excessive GST for eight years, will return all of that to Indians.
Accusing PM of “deceiving” Indians, he said, “It was Modi who implemented GST, it was Modi who increased GST rates, and now it is Modi who is patting himself on the back.” “We were the ones who opposed when GST was

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ge.
The Minister questioned the public celebrations over the GST relaxations.
“I don’t understand why everybody is celebrating over a government doing its job. Why are they thanking Mr Modi? He’s not giving money from his pocket, it is the tax that hard-working citizens of the country have paid to the government and they are merely giving it back,” he said.
Dismissing BJP’s promotion of the reforms, Kharge said: “I don’t see whatever this GST Utsav, Dasara bonus, Diwali bumper—what is this nonsense? The last eight years, what was it then? Who pushed the common man, the poor into the well, and now giving them a ladder and BJP is expecting people to thank them for giving them the ladder now to get them out of the well. Like I said, it is t

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GST cut to save up to Rs 1.5 lakh cr for investors in renewable energy: Pralhad Joshi
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) GST reduction on renewable energy will save up to Rs 1.5 lakh crore for investors till 2030, Union Minister Pralhad Joshi said on Monday.
The comments from the Union New & Renewable Energy Minister assume significance as Monday is the first day of implementation of the Goods and Services Tax reduction.
In a bonanza to consumers, the GST Council, comprising the Centre and states, decided to reduce tax rates on goods and services, from September 22 the first day of Navratri.
The GST cut will give a significant boost to India's ambitious target of having 500 GW of renewable energy by 2030.

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Rs 1,750 crore on 10 lakh solar pumps with the GST cut, the ministry estimates show.
Earlier, addressing the conference, Joshi said at the COP26 in 2021, when Prime Minister Narendra Modi first laid down the roadmap for the country's clean energy journey, he set a target that many thought was impossible: 500 GW of non-fossil fuel capacity by 2030.
“Today, I am proud to say that we have already achieved over 50 per cent of our installed power capacity from non-fossil fuel sources, and we have done it five years ahead of the timeline. We have also crossed 50 per cent of the 500 GW target (252 GW),” he said.
He informed that nearly 20 lakh homes have benefited from solar power under the PM Surya Ghar: Muft Bijli Yojana.
He further sai

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er a statement issued by CII, the Ministry of New and Renewable Energy (MNRE) will soon be holding the second round of talks with states on energy storage, energy transition and power purchase agreements (PPAs).
Muaviyath Mohamed, Minister of State, Environment and Tourism, Government of Maldives, said his country is enhancing climate resilience by focusing on renewable energy particularly solar power and had fruitful talks with the Indian Solar Alliance (ISA).
The Maldives looks forward to (working with) Indian companies to achieve its target of 33 per cent of electricity generation through renewable energy by 2028, he added.
Meanwhile, Praveer Sinha, Chairman, CII National Committee on Power and MD, Tata Power, said a huge amount of

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'GST Bachat Utsav' brings festive buzz to every home: PM Modi
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) Prime Minister Narendra Modi on Monday highlighted the sweeping and upbeat coverage given in newspapers to the reduced GST rates to underscore the nationwide buzz it has created.
“From markets to households, GST Bachat Utsav brings a festive buzz, ensuring lower costs and brighter smiles in every home,” Modi said on X, posting pictures of the front page of leading Hindi a

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HIGHLIGHTS AT 5 PM
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) Following are the top stories at 5 pm: NATION DEL35 GST-MODI
'GST Bachat Utsav' brings festive buzz to every home: PM Modi New Delhi: Prime Minister Narendra Modi on Monday highlighted the sweeping and upbeat coverage given in newspapers to the reduced GST rates to underscore the nationwide buzz it has created.
CAL28 AR-PM-LD RALLY
'Inherent habit' of Congress to abandon any development work that's difficult: Modi Itanagar: Prime Minister Narendra Modi on Monday alleged that the Congress has an “inherent habit” of abandoning any development work that is difficult, and this caused significant harm to the Northeast.
DEL12 GST-SHAH

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it Punjab New Delhi: Congress leader Rahul Gandhi on Monday urged Prime Minister Narendra Modi to soon give a comprehensive relief package to flood-hit Punjab and said the initial relief of Rs 1600 announced by him is an “injustice” to the people of the state.
LEGAL LGD14 SC-AI CRASH-LD PROBE
'Irresponsible, builds media narrative': SC miffed over selective release of AI plane crash report New Delhi: The Supreme Court on Monday termed as “unfortunate and irresponsible” the selective publication of a preliminary report on the June 12 Air India crash which outlined lapses on the part of pilots and paved way for a “media narrative”.
LGD12 SC-LD JACQUELINE
SC refuses to interfere with order junking Jacqueline Fernandez's

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'GST Bachat Utsav' brings festive buzz to every home: PM Modi
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) Prime Minister Narendra Modi on Monday highlighted the sweeping and upbeat coverage given in newspapers to the reduced GST rates to underscore the nationwide buzz it has created.
“From markets to households, GST Bachat Utsav brings a festive buzz, ensuring lower costs and brighter smiles in every home,” Modi said on X, posting pictures of the front page of leading Hindi a

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'GST Bachat Utsav' brings festive buzz to every home: PM Modi
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) Prime Minister Narendra Modi on Monday highlighted the sweeping and upbeat coverage given in newspapers to the reduced GST rates to underscore the nationwide buzz it has created.
“From markets to households, GST Bachat Utsav brings a festive buzz, ensuring lower costs and brighter smiles in every home,” Modi said on X, posting pictures of the front page of leading Hindi a

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'GST Bachat Utsav' brings festive buzz to every home: PM Modi
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) Prime Minister Narendra Modi on Monday highlighted the sweeping and upbeat coverage given in newspapers to the reduced GST rates to underscore the nationwide buzz it has created.
“From markets to households, GST Bachat Utsav brings a festive buzz, ensuring lower costs and brighter smiles in every home,” Modi said on X, posting pictures of the front page of leading Hindi a

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'GST Bachat Utsav' brings festive buzz to every home: PM Modi
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) Prime Minister Narendra Modi on Monday highlighted the sweeping and upbeat coverage given in newspapers to the reduced GST rates to underscore the nationwide buzz it has created.
“From markets to households, GST Bachat Utsav brings a festive buzz, ensuring lower costs and brighter smiles in every home,” Modi said on X, posting pictures of the front page of leading Hindi a

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PM unveils Rs 5,100cr projects in Arunachal, accuses Cong of abandoning difficult development works
GST
Dated:- 22-9-2025
PTI
Itanagar, Sep 22 (PTI) Prime Minister Narendra Modi on Monday alleged that the Congress has an “inherent habit” of abandoning any development work that is difficult, and this caused significant harm to the Northeast.
He made the statement after unveiling development works worth over Rs 5,100 crore in Arunachal Pradesh, among which were two mega hydropower projects.
Addressing the function, Modi hailed the GST reforms, stating that people received a “double bonanza” this festive season with the lower rates coming into effect on the first day of Navratri.
Criticising the Congress, he claimed that it overlooked Arunachal Pradesh in terms of development, as the state has only two Lok Sabha seats.
The PM said he knew that the Northeast couldn't be developed from Delhi, and so, he sent ministers and officers more frequently to the region, and himself c

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t',” he said.
“Modi worships those whom no one has ever asked about. That is why Arunachal Pradesh, which was neglected during Congress rule, has since 2014 become a centre of developmental priority,” he added.
Referring to the BJP dispensations in the state and at the Centre, the PM said the projects he unveiled were an example of “double benefits” of the “double-engine” government.
“Arunachal is moving forward. The new power projects announced today will make the state a major power producer, create thousands of jobs, and provide affordable electricity,” he said.
The PM laid the foundation stones for two major hydropower projects over the Yarjep river in the Shi Yomi district, and a convention centre in Tawang, among others.
The Tato-I project, with a capacity of 186 mw, will be developed jointly by the Arunachal Pradesh government and the North Eastern Electric Power Corporation Limited (NEEPCO) at Rs 1,750 crore. It is expected to generate around 802 million units of electrici

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r villages in Arunachal now have roads, electricity, internet and tourism facilities. They are turning into new centres of tourism,” he said.
Attacking the Congress, he claimed that when the party was in power at the Centre, it kept on increasing taxes even as the common people were facing the brunt of rising costs and corruption.
“Congress imposed a heavy tax burden on the people, but our government has gradually reduced taxes, giving relief,” he said.
Modi said that despite facing major challenges over the years, his government consistently reduced income tax rates.
“GST has now been simplified to just two slabs. Many items have become tax-free. Building a home, purchasing a scooter or bike, dining out, and travelling have all become more affordable. GST Savings Festival is a milestone,” he said.
Ahead of the programme, the PM interacted with local entrepreneurs and members of self-help groups at an exhibition organised at the venue.
He asked them if the GST reforms were helpin

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Exercise, notebook manufacturers urge govt to revisit GST rates due to inverted duty structure
GST
Dated:- 22-9-2025
PTI
Kolkata, Sep 22 (PTI) Exercise and notebook manufacturers have urged the Centre to revisit the new GST rates, arguing that the inverted duty structure after the rationalisation would lead to escalation of production costs and inability to pass on benefits to consumers.
The GST Council, comprising the Centre and states, had decided to reduce tax rates on goods and services from September 22.
The Exercise Book Manufacturers Association said “the Council has recommended 'nil' rate for exercise books, graph books and notebooks as well as paper used to make them”.
“While the noble intent of the government is to

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lternative mechanism be provided for claiming full refund of input taxes.
According to them, the GST rate reduction on notebooks and paper for notebooks to 'nil' would not make those cheaper in the hands of consumers.
The market size of notebooks and exercise books in the country stands at around Rs 10,000 crore.
The GST for notebooks and exercise books was 12 per cent before the reforms.
The rate structure post the rationalisation makes the notebooks industry as the only one whose primary raw material in the value chain are taxed at 18 per cent, and the end product exempt from tax, resulting in an inverted duty structure with no scope for claiming any refund, they said.
The GST rate on wood has remained at 18 per cent and that on pulp

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Delhi CM meets traders in Tri Nagar, hails GST reforms as 'Diwali gift' from PM Modi
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) Delhi Chief Minister Rekha Gupta visited the Totaram Bazar in Tri Nagar and interacted with traders over the GST reforms that came into effect on Monday. Accompanied by Chandni Chowk MP Praveen Khandelwal, Gupta was welcomed by shopkeepers with chants of “Bharat Mata ki Jai” and “Jai Shri Ram”, along with sweets and roses.
The chief minister visit

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GST exemption lowers premiums of both life, health insurance
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) Insurance premiums of life and health insurance have become cheaper from Monday following the complete removal of 18 per cent Goods and Services Tax (GST) as next generation GST 2.0 reforms kicked in.
All individual health insurance policies, including family floater policies and policies for senior citizens and reinsurance, are exempt from GST effective September 22.
Since its inception in July 2017, GST at the rate of 18 per cent has been levied on premiums paid towards health insurance and life insurance.
Individual policyholders can save up to 18 per cent GST levied on the insurance premium by any insurer from

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s 561 crore from reinsurance on life and Rs 1,484 crore on health care.
GST on healthcare and life insurance services brought in Rs 16,770 crore in FY23, including Rs 9,132 crore from life insurance and Rs 7,638 crore from healthcare insurance.
The 56th GST Council, chaired by Union Finance Minister and comprising ministers from all states, has agreed on two tax rates of 5 and 18 per cent by moving products from the current 12 and 28 per cent slab to lower rates.
A special 40 per cent rate would be levied on a select few items.
A 4-tier GST structure of 5, 12, 18 and 28 per cent was implemented from July 1, 2017, when the Centre and states agreed to subsume most of their taxes, like excise duty and VAT, into one uniform tax. PTI DP

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Vicat In India Welcomes GST Reduction on Cement; Commits to Passing Full Benefits to Customers
GST
Dated:- 22-9-2025
PTI
Hyderabad, Telangana, India (NewsVoir) Vicat In India, through its subsidiaries Bharathi Cement Corporation Limited and Kalburgi Cement Private Limited, warmly welcomes the Government of IndiaÂ’s landmark decision to reduce the Goods and Services Tax (GST) on cement from 28% to 18% with effect from today i.e. 22nd September 2025.
This progressive and visionary reform, led by HonÂ’ble Prime Minister Shri Narendra Modi Ji and HonÂ’ble Finance Minister Smt. Nirmala Sitharaman Ji, will directly benefit millions of individual home builders, infrastructure developers, and consumers across the country. It is also expe

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ing Officer, Vicat In India Operations, added, “Our invoices will reflect the GST change from 28% to 18% for cement sales across India. We have already advised all our dealers and channel partners to reduce cement prices accordingly and ensure that the full benefit is passed on to customers. This reform will not only help home builders but also contribute to India’s journey of becoming the world’s third-largest economy.” With this decisive step by the Government of India, Vicat in India reiterates its commitment to being a responsible partner in the nation’s growth story, while continuing to deliver superior quality products backed by global expertise and eco-friendly practices.
About Vicat Group Founded in France in 1853, Vicat Group is

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GST 2.0 will bring down grocery bills by 13 pc, Rs 70,000 savings on small car purchases
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) The GST next-gen reforms, which kicked in from Monday, will lead to a saving of 13 per cent in the household bills for groceries and daily essentials, while a small car buyer could save around Rs 70,000.
According to government estimates, stationery, clothing, footwear and medicines purchases would bring in savings in the range of 7-12 per cent, while the savings would go up to 18 per cent in the case of individual health and life insurance policies, which have been exempt from GST effective Monday.
As many as 375 items, including groceries, agri-equipments, clothing, medicines and automo

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in income tax exemption to Rs 12 lakh given in the Budget, will be a “double bonanza” for people.
Modi said the cut in GST rates and the hike in I-T exemption limit will help households save Rs 2.5 lakh crore annually.
“Now, the poor, the neo-middle class, and the middle class are receiving a double bonanza. With the reduction in GST, it will be easier for them to fulfil their dreams,” Modi said.
Effective Monday, GST has become a two-tier structure wherein the majority of goods and services will attract tax of 5 per cent and 18 per cent. A 40 per cent tax will be levied on ultra-luxury items, while tobacco and related products will continue to be in the 28 per cent plus cess category.
Since its launch on July 1, 2017, Goods and Se

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Another 25 bps rate cut best possible option for RBI: SBI study
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) A SBI study released on Monday stated that there is merit and rationale for the Reserve Bank to reduce the key benchmark lending rate by 25 basis points in the forthcoming monetary policy, as retail inflation is expected to remain benign even in the next financial year.
The Reserve Bank of India (RBI) has already reduced the repo rate by 100 basis points since February, amidst declining consumer price index (CPI) based inflation. After reducing the repo rate three times in a row, the RBI hit a pause button in August.
The Reserve Bank Governor-headed Monetary Policy Committee (MPC), which decides on the interest r

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ign even in FY27, and without a GST cut, it is tracking below 2 per cent in September and October,” it said.
The report said the CPI for fiscal 2026-27 numbers are now tracking around 4 per cent or less, with GST rationalisation, October CPI could be closer to 1.1 per cent, the lowest since 2004.
“A rate cut in September is the best possible option for RBI, which also projects it as a forward-looking central bank,' the SBI study said.
The report, authored by Soumya Kanti Ghosh, Group Chief Economic Advisor of SBI, expects the CPI inflation may further decline by 65-75 bps due to the huge GST rationalisation.
Experience of 2019 also indicates that the rates rationalisation (primarily focused on reducing rates for common goods to 18 p

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Big question mark on whether GST reduction benefits will be passed on to consumers: Congress
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) With reduced GST rates on several items coming into effect, the Congress on Monday said the “limited” reform comes eight years too late and a “big question mark” remains on whether the benefits of tax reduction will be passed on to consumers.
Congress general secretary in-charge of communications, Jairam Ramesh, said the National Anti-profiteering Authority (NAA) was established under Section 171 of the Central Goods and Services Tax Act, 2017, to monitor whether GST rate cuts resulted in the reduction of consumer prices but was rendered “toothless” by the Narendra Modi government with a notification issued of September 30, 2024.
“It should not be a case of 'vote chori' on one hand and 'munafakhori (profiteering)' on the other hand with the people not getting the benefits of the GST reduction,” Ramesh told PTI.
He also claimed tha

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mplexities have not been eased, which was much needed. There is also a big question mark on whether the benefits of tax reduction will be passed on to the consumers or not,” Ramesh said.
He asserted that this reform is not a “GST 2.0” that the Congress has been demanding, but at best can be termed “GST 1.5”.
The Congress on Sunday accused Modi of taking “sole ownership” of the amendments made to the GST regime and said the current reforms were inadequate, with outstanding issues, including states' demand for an extension of compensation for another five years, remaining unaddressed.
The opposition party slammed the reforms as “applying a band-aid after inflicting deep wounds” and said the government should apologise to the public for its GST on essential items.
In his address to the nation on Sunday, Modi said a “GST bachat utsav (savings festival)” will begin from the first day of Navratri, and coupled with the income tax exemption, it will be a “double bonanza” for most people.

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he thresholds that apply to interstate supplies,” he had said.
Ramesh had claimed that there were also sectoral issues, for instance, in textiles, tourism, exporters, handicrafts and agricultural inputs that must be tackled.
States should be incentivised to move towards the introduction of state-level GST to cover electricity, alcohol, petroleum and real estate as well, the Congress leader said.
“The key demand of the states made in the true spirit of cooperative federalism, namely, the extension of compensation for another five years to fully protect their revenues, remains unaddressed,” Ramesh had said.
From kitchen staples to electronics, from medicines and equipment to automobiles, goods and services became cheaper from Monday as the reduced GST rates on several items came into effect from September 22 the first day of the Navaratri.
The tax regime now assumes a two-tier structure, with the majority of goods and services attracting tax of 5 and 18 per cent, and ultra luxury i

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Reduced GST rates have sparked wave of happiness among people: Vaishnaw
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) The reduced GST rates on a wide array of items have ignited a “wave of happiness” among people, the BJP said on Monday and cited the higher tax rates on same products during the Congress-led government to slam its criticism of the GST reforms.
Hitting back at the Congress for its “Gabbar Singh Tax” barb at the GST, Union minister and BJP leader Ashwini Vaishnaw cited the prevalence of much higher rates during its government to wonder if such hugh taxation was like “Gabbar Singh ke bade dada” (the grandfather of Gabbar Singh).
Giving examples, he said the tax rates on cement, sanitary pad, paint, footwear,

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