BMS also expressed hope that manufacturers, insurance companies, and others will promptly pass on these benefits to the common man by lowering the prices of essential daily-use products, said Ravindra Himte, General Secretary, BMS, in a statement.
The Apparel Export Promotion Council and the Tirupur Knitwear Garment Industry expressed their sincere appreciation for the substantial reform measures recently announced by the GST Council.
Insurance companies are expected to face a setback in the short run following the GST Council's recent exemption on GST, as it could lead to the loss of input tax credit eligibility, said industry experts and executives, adding that the companies, however, will benefit in the long term.
Speaking to ANI, Swati Gupta, a housewife in Aligarh, expressed her happiness over the prime minister's decision to reduce GST during Navratri, as these new rates will be levied from September 22 this year.
Delhi Chief Minister Rekha Gupta on Thursday praised the GST council's decision to cut Goods and Services Tax (GST) rates, and said it will help all small and large businesses to operate with great stability.
Mumbai (Maharashtra) [India], September 4: CREDAI-MCHI, the apex body of real estate developers in the Mumbai Metropolitan Region (MMR), wholeheartedly welcomes the landmark Next-Gen GST Reforms announced by Prime Minister Narendra Modi and approved in the 56th GST Council meeting chaired by
The next-generation Goods and Services Tax (GST) reforms, announced after the GST Council meeting on Wednesday, have received strong praise from industry leaders and experts, who, in a united voice, asserted that such bold measures will strengthen economic growth, push investments, and ease
The 56th GST council meeting decided to rationalise GST rates to two slabs of 5 per cent and 18 per cent by merging the 12 per cent and 28 per cent rates.
The auto industry has welcomed the GST Council's decision to rationalise tax rates, calling it a landmark reform that will boost affordability, spur demand, and accelerate India's transition to sustainable mobility.
Global investment bank Morgan Stanley notes that the rationalisation of the Goods and Services Tax (GST) structure, approved by the GST Council, is expected to significantly boost consumption in the coming months, coinciding with the onset of the festive season.
While speaking to ANI, Bihar Deputy CM said, "I thank the Prime Minister and the Finance Minister that under their guidance, the entire GST Council has passed it. The concerns of farmers, the common man, and the entire Indian economy have been addressed. The medical sector has been completel