Author: admin_gst

GST dept coordinating with industry on software upgrade for smooth rollout of new tax structure: CBIC
GST
Dated:- 4-9-2025
PTI
New Delhi, Sep 4 (PTI) The GST department is coordinating with the industry for software upgrade to ensure smooth rollout of the new tax structure from September 22, a top tax official said on Thursday.
Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal also said that the industry need not worry about accumulation of input tax credit (ITC) on goods in which tax rates have been reduced, as they can use the accumulated credit to pay taxes.
The GST Council, comprising the Centre and states, have approved overhauling the Goods and Services Tax (GST) effective September 22, mak

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so that the entire rollout is very smooth, which will not have any glitches. We are confident about that,” Agarwal said.
Asked about industry concerns about blocked ITC, Agarwal said the dealers of such goods items will be entitled to claim the full ITC on whatever rate they have paid taxes on inputs.
“When they sell the goods or make the supplies, from 22nd September onwards, new rates will apply so they can utilise the ITC, which is available to them for making the duty payment while filing returns,” Agarwal said.
He said the ITC accumulation will be there, maybe for a very short period, and after that it will be again smooth.
Agarwal said that as businesses pay taxes using ITC, there might be some dip in monthly collection.
“We see

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Centre’s order on Foreigners’ Act ‘farcical’, ‘election gimmick’: Mamata
GST
Dated:- 4-9-2025
PTI
Kolkata, Sep 4 (PTI) West Bengal Chief Minister Mamata Banerjee on Wednesday launched a scathing attack on the Centre over its recent order under the Foreigners Act, allowing members of minority communities from neighbouring countries to stay in India without valid documents, terming it a “farce” and an “election gimmick”.
Speaking in the West Bengal Legislative Assembly during a discussion on a government resolution condemning alleged atrocities on Bengali migrants, Banerjee claimed the CentreÂ’s move was aimed at misleading the public ahead of the upcoming elections and accused the BJP of using such tactics to polarise voters.
“T

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hose who came till 2024? The BJP has to clarify this as the new order doesn't mention anything about these pertinent issues,” Banerjee said.
The BJP had made such “fake promises ahead of 2019 and 2024 Lok Sabha polls”, but in reality, how many citizenships were granted, she questioned.
The Centre’s order, issued under the recently implemented Immigration and Foreigners Act, 2025, allows members of minority communities—Hindus, Sikhs, Buddhists, Jains, Parsis, and Christians—from Afghanistan, Bangladesh, and Pakistan who entered India on or before December 31, 2024, to stay in the country without valid travel documents, if they fled religious persecution.
According to the Citizenship (Amendment) Act, 2019 (CAA), which came into effect last

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GST reforms: Fadnavis hails move, calls it result of PM Modi's farsighted vision
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Thursday hailed Prime Minister Narendra Modi's farsighted vision for the sweeping GST rate rationalisation and asserted it would bring down the burden on citizens.
The GST Council on Wednesday cleared sweeping changes to the indirect tax regime, approving an overhaul of rates by limiting slabs to 5 per cent and

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Cream Stone Welcomes Proposed GST Relief as a Boost to IndiaÂ’s Ice Cream Industry.
GST
Dated:- 4-9-2025
PTI
Hyderabad, India – 04th August 2025 – Cream Stone Ice Cream Concepts welcomes the Government of India’s decision to reduce GST on ice cream from 18% to 5%. While ice cream has consistently been one of the most enjoyed indulgences for Indian consumers, this reform makes it even more accessible, allowing families to enjoy ice cream with greater ease. For consumers, ice cream has always been a source of joy and celebration. The GST reduction simply makes this experience more rewarding by offering a little extra value with every indulgence. This thoughtful reform is expected to add to the overall positivity around frozen desse

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epts, stated: “With this reform, we are excited to pass on the benefits directly to our customers, ensuring that our premium creations are enjoyed by more families than ever before.” Since its establishment in 2009 in Hyderabad, Cream Stone has expanded into one of India’s leading premium ice cream brands. With over 117 outlets across 35 cities in 7 states, the company is recognized for its customizable sundaes, creative mix-ins, the TUBZ take-home range, and premium ice cream sticks. Cream Stone remains committed to redefining indulgence through creativity, quality, and innovation.
(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR
News –

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Sensex, Nifty close marginally higher as profit-taking in RIL, Infosys spoils GST rate cut party
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Benchmark stock indices Sensex and Nifty pared most of the early gains to settle marginally higher on Thursday as profit taking in index heavyweight Reliance Industries and Infosys took away the sheen of the GST rate cuts announced on commonly used personal items and daily essential products.
Shedding 738 points from the day's high, the 30-share Sensex finally settled 150.30 points or 0.19 per cent higher at 80,718.01. As many as 19 of its shares closed in red while 11 settled higher.
The barometer jumped 888.96 points or 1.10 per cent to a high of 81,456.67 in the opening trade as the

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i/paratha to hair oil, ice creams and TVs will cost less, while tax incidence on personal health and life insurance will be brought down to nil after the all-powerful GST Council on Wednesday approved a complete overhaul of the tangled Goods and Services Tax (GST) regime.
The GST Council approved limiting slabs to 5 per cent and 18 per cent, effective from September 22, the first day of Navaratri.
Among the Sensex firms, Mahindra & Mahindra jumped the most by 5.96 per cent. Bajaj Finance, Bajaj Finserv, Trent, ITC and HDFC Bank were also among the gainers.
However, Maruti Suzuki India, Bharat Electronics, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up

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ent, FMCG (0.31 per cent), consumer discretionary (0.24 per cent) and financial services (0.15 per cent).
Utilities dropped 1.24 per cent, power (1.05 per cent), oil & gas (1.05 per cent), BSE Focused IT (0.93 per cent), IT (0.86 per cent), realty (0.79 per cent) and teck (0.70 per cent).
As many as 2,325 stocks declined while 1,807 advanced and 148 remained unchanged on the BSE.
“The broader outlook stays vulnerable to global macro uncertainties, continued FII outflows, and persistent U.S. tariff headwinds,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lowe

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FMCG players welcome govt move on GST rate cut
GST
Dated:- 4-9-2025
PTI
Kolkata, Sep 4 (PTI) Companies operating in the fast moving consumer goods (FMCG) segment have hailed the government's move to cut GST on several items which would spur consumption demand in the economy.
The structural reforms will undoubtedly benefit MSMEs and farmers who form the backbone of the economy, Chairman and Managing Director of ITC Limited Sanjiv Puri said.
“I would like to compliment the finance minister for ushering in a transformative, bold and comprehensive next-generation GST architecture. The GST rate rationalisation across various sectors will bring relief to the consumers through enhanced affordability and will spur consumption, drive i

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iative of lowering taxes to boost consumption.” This is a positive trigger for demand creation, he said.
“GCPL has soap brands in its portfolio. We are fully committed to ensuring that the GST rate reduction benefits are passed on to the consumers,” Malbari said.
Co-founder and Chairman of Joy Personal Care, Sunil Agarwal, said the government's decision to reduce GST on daily essential items from 18 per cent to five per cent is a commendable step that will benefit consumers and energize the FMCG industry.
“Rural India has been driving FMCG growth for six consecutive quarters, and this move will further strengthen rural demand, even as urban consumption continues to recover. The GST rate cut on several FMCG items will give the industry t

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Euphoria in country, nobody stopped Congress to roll out GST: BJP on tax reforms
GST
Dated:- 4-9-2025
PTI
New Delhi, Sep 4 (PTI) The BJP on Thursday hailed the GST reforms as a historic measure which will benefit every section of society and hit back at the Congress over its claim that it had been pushing for tax rationalisation, saying nobody had stopped the party in its long tenure from rolling out the unified indirect tax regime.
With some Congress leaders noting that their leader Rahul Gandhi had long favoured the two-tier tax structure as announced by the GST Council, BJP national spokesperson Sambit Patra said he is “staying in la la land” and that is not going to bring any dividend to his party.
“Who had stopped Rahul

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nt has shown intention, courage and democratic spirit to bring consensus among all states to roll out the GST while all the Congress could do was discuss and debate.
The Congress' claim, he said, is akin to its “garibi hatao” slogan since Independence but its governments could never remove poverty, he said.
The party believes the Sun and moon moves due to the Gandhi family and there would be no India but for them, he said mockingly.
The Puri MP said it is the Congress' mindset to grieve when the country is jubilant, be it the construction of Ram temple, repeal of Article 370 or now the GST reforms.
Patra also had a go at Congress general secretary Jairam Ramesh for his criticism that the GST Council, which announced the reforms on W

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f he keeps silent, then the Congress' fortunes may go up slightly as his speeches only harm his party, Patra claimed.
The GST Council on Wednesday approved a complete overhaul of the tangled Goods and Services Tax regime in a wide-ranging reforms which will reduce taxes on common use items from roti/paratha to hair oil, ice creams and TVs.
The Council approved limiting slabs to 5 per cent and 18 per cent, effective from September 22.
Almost all personal-use items and aspirational goods for the middle class, like ACs and washing machines, will see rate cuts as the government looks to boost domestic spending and cushion the economic blow of the US tariffs.
Premium paid for individual life insurance and health insurance (including famil

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Stock markets advance for 2nd day after GST rate cut; M&M spurts nearly 6 pc
GST
Dated:- 4-9-2025
PTI
Mumbai, Sep 4 (PTI) Stock markets rose for the second consecutive day on Thursday, with the benchmark BSE Sensex closing higher by 150 points after the GST rate cuts announced on commonly used personal items and daily essential products.
Paring most of its gains due to selling in index heavyweight Reliance Industries and Infosys, the 30-share Sensex settled 150.30 points or 0.19 per cent higher at 80,718.01. The barometer jumped 888.96 points or 1.10 per cent to 81,456.67 in the opening trade, but later slipped from the intra-day high due to profit taking in blue-chips.
The 50-share NSE Nifty ended marginally higher by 19.25 p

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s, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
“Nifty opened on a strong note with a gap-up start, driven by optimism around the new GST rates, but profit-booking in the second half wiped out most of the early gains.
“The move triggered broad-based buying in auto, FMCG, and consumer durable stocks during early trade. However, profit-booking weighed on broader indices, dragging them down,” Hariprasad K, Research Analyst and Founder – Livelong Wealth, said.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading higher.
US markets ended mostly higher o

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Amit Shah to visit Hyderabad for Ganesh immersion on Sept 6
GST
Dated:- 4-9-2025
PTI
Hyderabad, Sep 4 (PTI) Union Home Minister Amit Shah will visit Hyderabad on September 6 to participate in Ganesh immersion procession, Telangana BJP president N Ramchander Rao said on Thursday.
Shah will address the gathering as part of the procession at Mozamjahi Market in the city, Rao told PTI Videos.
“Ganesh immersion procession in Hyderabad is one of the biggest events. We are happy that Amit

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GST reform historic, will bring relief to common man: Rajasthan CM
GST
Dated:- 4-9-2025
PTI
Jaipur, Sep 4 (PTI) Rajasthan Chief Minister Bhajanlal Sharma on Thursday described the GST Council's decision to reduce tax slabs as a historic reform, saying it will bring significant relief to the common man and make the upcoming Diwali special.
Speaking to reporters here, Sharma thanked Prime Minister Narendra Modi for the decision. He said it was a landmark move in GST reforms.
The GS

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Kerala to face Rs 8,000-10,000 cr annual revenue loss due to GST rate rationalisation: FM Balagopal
GST
Dated:- 4-9-2025
PTI
New Delhi, Sep 4 (PTI) Kerala is expected to face an annual revenue loss of Rs 8,000 crore to Rs 10,000 crore due to Goods and Services Tax (GST) rate cuts, state Finance Minister K N Balagopal said on Thursday.
His remarks come a day after the GST Council approved a two-rate structure 5 and 18 per cent a move that will bring down the prices of a large number of items. The revised structure will be in force from September 22.
Currently, there are four rate slabs 5, 12, 18 and 28 per cent.
At a media briefing in the national capital on Thursday, Balagopal, who is part of the ruling Left Democratic

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is a lack of clarity on the revenue impact on the state as well as the Union exchequer. For Kerala, he said the impact will be disproportionately severe compared to the national average as the state's consumption basket is heavily skewed towards higher rate items, the minister said.
Going by the past experiences, Balagopal said the rate rationalisation did not result in a commensurate reduction in consumer prices.
The financial implication of the rate rationalisation would be Rs 48,000 crore and this would be “fiscally sustainable for Centre and state”, Revenue Secretary Arvind Shrivastava said on Wednesday.
Premium paid for individual life insurance and health insurance (including family floater), policies, too, have been exempted f

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evenue share for states from the GST collection to 60 per cent.
Currently, the revenue-sharing ratio is 50:50 between the Centre and the states.
In his presentation to the GST Council, Balagopal mentioned that in November 2017, the rates of 178 items were reduced in a single stroke, which sharply lowered the average tax rate to 11.6 per cent and in the years that followed, several more rate reductions were effected, and with the current proposal, the average tax rate is expected to fall further.
“Despite assurances that GST would lead to economic buoyancy and increased consumption, thereby boosting revenues, such buoyancy has not materialised even after eight years of implementation,” he claimed.
On Wednesday, Union Finance Minister

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GST rate cut big gift for country, will benefit Delhi: CM Rekha Gupta
GST
Dated:- 4-9-2025
PTI
New Delhi, Sep 4 (PTI) Delhi Chief Minister Rekha Gupta on Thursday said the rate cut in goods and services tax (GST) is a “big gift” for the country and will prove to be a milestone for the Indian economy.
Gupta, who attended her first GST Council meeting on Wednesday, also thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, saying the move will strengthen trade and businesses in the country.
“It is a very big gift for the country… The rate cut in Health Insurance and daily use items is a big relief for the crores of people in the country who are thankful to Prime Minister Narendra Modi,” Gupta told repor

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GST rate cut big gift for country, will benefit Delhi: CM Rekha Gupta
GST
Dated:- 4-9-2025
PTI
New Delhi, Sep 4 (PTI) Delhi Chief Minister Rekha Gupta on Thursday said the rate cut in goods and services tax (GST) is a “big gift” for the country and will prove to be a milestone for the Indian economy.
Gupta, who attended her first GST Council meeting on Wednesday, also thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, saying the move will strengthen trade and businesses in the country.
“It is a very big gift for the country… The rate cut in Health Insurance and daily use items is a big relief for the crores of people in the country who are thankful to Prime Minister Narendra Modi,” Gupta told repor

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GST rate cut big gift for country, will benefit Delhi: CM Rekha Gupta
GST
Dated:- 4-9-2025
PTI
New Delhi, Sep 4 (PTI) Delhi Chief Minister Rekha Gupta on Thursday said the rate cut in goods and services tax (GST) is a “big gift” for the country and will prove to be a milestone for the Indian economy.
Gupta, who attended her first GST Council meeting on Wednesday, also thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, saying the move will strengthen trade and businesses in the country.
“It is a very big gift for the country… The rate cut in Health Insurance and daily use items is a big relief for the crores of people in the country who are thankful to Prime Minister Narendra Modi,” Gupta told repor

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GST reforms will be transformational for the business: Union Minister of Commerce and Industry Shri Piyush Goyal at Bharat Nutraverse Expo 2025
GST
Dated:- 4-9-2025

Benefit of the new rates should be passed on to the consumers entirely: Shri Goyal
We must commit to promote Indian products – products made with the sweat of hard working Indians: Shri Goyal
India is the fastest growing big economy of the world in times of turmoil: Shri Goyal
A fit and healthy India, supported by healthy food products, is key to India's growth: Shri Goyal
The Prime Minister wants to ensure best preventive health care for all Indian: Shri Goyal
The nutraceuticals industry is one of the biggest beneficiaries of the transformational changes in GST announced yesterday, said Union Minister of Commerce and Industry, Shri Piyush Goyal, while addressing the Bharat Nutraverse Expo 2025 today. The Minister added that the reduction in GST rates will provide a tremendous and unprecedented boost t

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lower prices naturally drive higher consumption and accelerate industry growth.
The Minister urged the industry to make a strong twin commitment to the Prime Minister-first, to pass on every rupee of savings from the GST reduction to consumers, and second, to actively promote Indian products. He stressed the need to support products made with the sweat and toil of hardworking Indians, products nurtured in the soil of India. He emphasized that when such products reach every corner of the nation, they embody not only economic value but also national pride and self-reliance.
Shri Goyal underlined that it does not matter whether the ownership lies with an Indian entrepreneur or a foreign investor-what matters is that the products are manufactured in India, creating jobs for Indian youth, generating opportunities for local communities, and contributing to the nation's growth story. He added that every product made in India carries with it the aspirations of 1.4 billion people and symboli

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he talent and skill of young India, along with government initiatives for ease of doing business, lower taxation, and ease of living, the country is on course to secure a better future for every child with access to quality education, healthcare, and world-class infrastructure.
Shri Goyal said that a fit and healthy India, supported by the nutraceuticals sector in a big way and by healthy food products, is key to India's growth. He noted that the sector is not only helping farmers and supporting micro, small and medium enterprises, but is also contributing to every Indian's healthcare. He highlighted the immense contribution of turmeric to health, the powerful benefits of ginger, and the role of probiotics in providing young Indians with quality protein and nutrition.
The Minister said that Prime Minister Narendra Modi is committed to ensuring that every citizen enjoys a good quality of life and healthy living, supported by both preventive and curative healthcare of the highest order

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GST Council cuts tax on dairy products, farm equipment, fertiliser and biopesticides
GST
Dated:- 4-9-2025
PTI
New Delhi, Sep 4 (PTI) In a relief to farmers and consumers ahead of the festive season, the Goods and Services Tax Council has reduced tax rates on several dairy products, fertilisers, biopesticides and agricultural equipment.
The 56th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, on Wednesday approved significant rate cuts for the agriculture and dairy sectors.
The council decided to make Ultra High Temperature (UHT) milk and paneer completely tax-free by reducing the GST from 5 per cent to zero, as per the official statement. GST on condensed milk, butter, other fats and cheese ha

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duced GST from 12 per cent to 5 per cent on various biopesticides including Bacillus thuringiensis variants, Trichoderma viride, Trichoderma harzianum, Pseudomonas fluoresens, Beauveria bassiana, NPV of Helicoverpa armigera, NPV of Spodoptera litura, neem-based pesticides and Cymbopogan.
GST has been reduced to 5 per cent on micro-nutrients covered under the Fertiliser Control Order, 1985.
The council reduced GST to 5 per cent from 18 per cent on comprehensive tractor components including rear tractor tyres and tubes, agricultural diesel engines of cylinder capacity exceeding 250 cc for tractors, hydraulic pumps for tractors, and various tractor parts such as rear wheel rim, centre housing, transmission housing, front axle support, bumper

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Goa industry body welcomes GST reforms; tourism stakeholders say it's 'prima facie good'
GST
Dated:- 4-9-2025
PTI
Panaji, Sep 4 (PTI) The top industry body in Goa on Thursday welcomed the new GST framework, saying the reforms were a “big step” towards ease of doing business and would boost self-reliance.
The Goods and Services Tax (GST) Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
Talking to reporters, Goa Chamber of Commerce and Industry's Director General Sanjay Amonkar said the industry body welcomes the GST reforms introduced across the board.
He said that the chamber has been continuously writing to the central government for rationalisation of

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