New GST Rates LIVE Updates: Centre monitoring price reduction by e-commerce platforms

New GST Rates LIVE Updates: The Centre is monitoring if the GST rate cut benefits on FMCG items are being reflected on e-commerce platforms, news agency PTI quoted government sources as saying.

Amid complaints of inadequate price reductions for daily essential items sold on some e-commerce platforms, sources said the field formations are monitoring the price changes.

"We are monitoring the price changes. Field formations are monitoring, and we will get the first report from them by September 30," a source said.

"We do not want a knee-jerk reaction to such complaints," the source said.

New GST Rates LIVE Updates: On the very first day since the new Goods and Services Tax (GST) regime kicked in on Monday (September 22), Maruti Suzuki received a record 80,000 enquiries and delivered 25,000 cars — something it says it hasn’t seen in over three decades. Tata Motors also saw over 25,000 enquiries and made 10,000 deliveries.

While GST 2.0 has given a boost to car buyers, other factors played a role too: pent-up demand for virtually no sales happened leading up to the new regime’s start date, as buyers waited for rate cuts to kick in, the end of the Shraadh period, and the upcoming festive season.

Under the next-generation reforms for GST, small cars with engine capacity not exceeding 1200 cc (petrol) and 1500 cc (diesel) and with length not over 4 metre will now be in the 18 per cent slab against 28 per cent plus cess levy earlier. Bigger cars will be taxed at 40 per cent (as against 28 per cent), with additional compensation cess of 17-22 per cent, taking the total tax to 50 per cent in some cases. All automotive parts will now be taxed at 18 per cent.

A senior executive from Maruti Suzuki said since it announced the price cuts over and above the GST, it has received 75,000 bookings, with nearly 15,000 bookings coming in every day, which is 50% higher than usual for the carmaker.

Read full article

New GST Rates LIVE Updates: Auto stocks surged on Tuesday after automakers saw bumper sales on the first day of Navratri under the new GST regime.

The sharp spike in bookings for automobiles drove auto stocks higher.

Leading carmakers Maruti Suzuki and Hyundai Motor India on Monday saw bumper sales with buyers queuing up to buy their favourite models at lower price tags under the new GST regime.

Bucking a weak trend in the broader equity market, shares of Hyundai Motor India jumped 4.69 per cent, Maruti climbed 3.24 per cent, Mahindra & Mahindra went up by 2.69 per cent, TVS Motor Company rallied 2 per cent, Bajaj Auto advanced 1.91 per cent, and Tata Motors edged higher by 1.68 per cent on the BSE.

Maruti also hit its 52-week high during the morning trade.

The BSE auto index climbed 0.98 per cent to 61,253.50.

-PTI

New GST Rates LIVE Updates: An exemption for Indian bread by any name — roti, paratha, khakhra — or for health and life insurance for individuals, to sharp tax rate cuts for beauty and well-being services to 5 per cent from 18 per cent or aspirational goods such as air conditioners, refrigerators and big TV screens to 18 per cent from 28 per cent, a wide range of goods and services of a person’s consumption basket have been touched as part of the reforms under GST 2.0.

Effective today (September 22), the rate rejig also seeks to resolve classification disputes by placing similar goods in the same rate slab to avoid issues such as how to tax roti or parotta or salted or caramelised popcorn, along with attempting to majorly correct the inverted duty structure, wherein the tax rate on output supply is lower than the tax rate on inputs.

The rate rejig for the eight-year-old consumption-based tax has been done across sectors such as agriculture, textiles, fertilisers, health, construction, transport and renewable energy. Termed as GST Bachat Utsav by Prime Minister Narendra Modi on Sunday, the rate rationalisation is meant to leave more disposable income in the hands of people, which is seen spurring household consumption and which in turn could incentivise investments. The government has also placed its bet on the potential consumption boost as it expects it will help it offset the revenue loss arising from the rate cuts on over 375 items.

Read full article

New GST Rates LIVE Updates: Andhra Pradesh Chief Minister N Chandrababu Naidu has said that the TDP-led NDA government will undertake a month-long awareness campaign on 'GST 2.0' reforms to enlighten people about the benefits they stand to derive from lower prices through the recent restructuring of the indirect tax regime.

The GST Council has approved a complete overhaul of the goods and services tax regime, slashing tax on several commonly used items, from hair oil to corn flakes and personal health and life insurance policies and umpteen others.

Addressing the Assembly, the chief minister on Monday said the government will organise 65,000 meetings as part of this initiative.

"The state government decided to organise 65,000 meetings starting from Monday till the Diwali festival. Door-to-door campaigns will be taken up to bring awareness among people about how they are benefiting from the GST cut on essential commodities, household articles, medicines and various other articles," said Naidu.

Observing that the campaign would also be organised across educational institutions, he called upon the MLAs and ministers to play an active role in this campaign.

-PTI

Prime Minister Narendra Modi interacted with local entrepreneurs and members of self-help groups in Arunachal Pradesh's capital Itanagar on Monday. He visited an exhibition that was organised at the venue of his public meeting in Indira Gandhi Park, and held the interaction, officials said.

The PM asked traders how the latest GST reforms were helping them. He also enquired in detail about the locally made items exhibited, and underlined the importance of promoting indigenous products as part of the government's 'Vocal for Local' campaign.

"The interaction served both as an encouragement for the local business community, and a reminder of the government's commitment to strengthen grassroots entrepreneurship in the frontier state," an official said.

The local traders of Arunachal Pradesh recalled that earlier they had to deal with multiple taxes, but it was the Modi government which brought in the reform of ‘One Nation, One Tax' through GST. They also highlighted that construction costs will fall, making housing more affordable, while cheaper raw materials will help produce cost-efficient local products. (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.

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.

Talking to reporters on the sidelines of the CII 6th International Energy Conference, Joshi said, "I thank Prime Minister Narendra Modi for cutting GST on renewable equipment from 18 per cent to 5 per cent, especially on the occasion of the Navratri festival." He further said this will save Rs one lakh crore to Rs 1.5 lakh crore for investors till 2030.

According to the Ministry of New & Renewable Energy, given that India plans to add around 300 GW of renewable energy capacity by 2030, even a modest 2-3 per cent cost reduction can free up Rs 1–1.5 lakh crore in investment capacity.

With the rollout of GST reforms on the first day of Navratri, Prime Minister Modi said people will enjoy a ‘true double bonanza’ this festive season. The new measures are set to ease kitchen expenses, offering relief to households and women.

Samajwadi Party president Akhilesh Yadav has taken a swipe at the BJP government, asking where the GST collections over the past eight years have gone.

The GST Council, comprising Centre and states, has decided to reduce tax rates on goods and services, from September 22 -- the first day of Navratri.

"The public is asking where the money collected in the name of GST has gone," Yadav wrote, listing possibilities such as whether the total amount would be delivered in cash to people's homes like the "UP BJP government's Mahakumbh model", adjusted in the next insurance premium, credited directly to bank accounts as direct benefit transfer, or deducted from the "Rs 15 lakh" promised earlier by the BJP.

In the post late Sunday night, Yadav further asked if the amount would be distributed along with the long-pending promise of subsidised LPG cylinders, paid using funds allegedly received by BJP from companies through "backdoor routes", handed out in cash on the eve of the next election, used to waive school fees for children, or compensated by making medicines and healthcare free for the sick and elderly. (PTI)

Union Minister Amit Shah hailed the GST reforms in a post on X, saying the reduction in rates on essentials to electronics will ease the burden on households and boost consumption. He said the move reflects the government’s commitment to ensuring growth while making everyday life more affordable for people.

Goa Chief Minister Pramod Sawant has welcomed the launch of the next-generation GST reforms by Prime Minister Narendra Modi, saying the initiative would strengthen India's journey towards an Atmanirbhar Bharat 2.0.

In a post on X on Sunday, Sawant said the prime minister had urged states to strengthen the ecosystem for micro, small and medium enterprises (MSMEs), build infrastructure to attract investment and enhance manufacturing competitiveness with the vision of “Vocal for Local, Think Global”.

“Goa is fully committed to this mission — modernising infrastructure, simplifying processes and empowering our entrepreneurs so that Swadeshi products shine proudly in India and across the globe,” the CM said.

PM Modi on Sunday asserted that the GST reforms kicking in from Monday will accelerate India's growth story, emphasising that it is a big and important step for “aatmanirbhar Bharat” and linking a boost to 'swadeshi' products to the country's prosperity.

Medicines, including some life saving drugs, and medical devices are set to become cheaper from Monday with the new GST rates kicking in, making healthcare more affordable and accessible for every citizen, according to industry players.

With the landmark GST reforms announced by Prime Minister Narendra Modi coming into effect from today, it will make healthcare more affordable and accessible for every citizen, Indian Pharmaceutical Alliance Secretary General Sudarshan Jain said.

"Most medicines, earlier taxed at 12 per cent, will now attract just 5 per cent GST. In addition, 36 critical life-saving drugs for cancer, genetic and rare diseases, and cardiovascular conditions have been fully exempted," he added.

The GST Council has also rationalised tax slabs on health and life insurance premiums, glucometers, and corrective spectacles, Jain said.

"These measures mark a transformative shift in India's healthcare landscape, delivering direct savings to patients, easing the burden on families, improving access to essential care, and strengthening healthcare security," he added.

India to enter new era of taxation from September 22: Majhi Bhubaneswar, Sep 21 (PTI) Odisha Chief Minister Mohan Charan Majhi on Sunday said that the transformative reforms in the tax structure places people at the centre of governance.

He said, "Odisha expresses its heartfelt gratitude to Prime Minister Narendra Modi for this visionary and transformative reform that truly places people at the centre of governance." Majhi said this after Prime Minister Narendra Modi, in an address to the nation, said a "GST savings festival" will begin from the first day of 'Navratri' on Monday, which, coupled with the income tax exemption, will be a "double bonanza" for most people.

"From tomorrow, India enters a new era of simpler, fairer, and more transparent taxation. By easing compliance, empowering MSMEs, creating jobs, boosting consumption, and promoting Swadeshi initiatives, these reforms will directly benefit citizens and strengthen the nation's economy," Majhi said in a post on X.

Delhi Chief Minister Rekha Gupta has said that GST reforms will strengthen the national economy and provide relief from inflation.

Gupta, who is set to participate in the 'GST Savings Festival' at Totaram Market in Tri Nagar on Monday afternoon, said Prime Minister Narendra Modi's initiative to simplify the tax system and make it citizen-friendly has ushered in Diwali early for the capital's traders.

"It feels as if Diwali has come early this year for the people of Delhi. A festive spirit is already visible across the city's shopping areas," she said, adding that the simplified Goods and Services Tax (GST) structure -- that came into effect on Monday -- will also provide relief from inflation and give a new direction to development.

Highlighting that now essential items, including medicines, and key services will be available at lower rates, Gupta said the new GST structure will provide significant relief to common citizens and middle-class families.

She stated that Delhi, being a major consumer and commercial hub, will directly benefit. Small traders, wholesale markets, and the start-up ecosystem will experience tangible advantages. With reduced prices, consumption will rise and local markets will be strengthened, she noted.