Mumbai (Maharashtra) [India], September 16: The GST Council, at its 56th Meeting held on 3rd September 2025, approved the rationalization of GST rates by moving to a two-slab structure of 5% and 18%, abolishing the existing 12% and 28% rates. These revised rates will come into effect from 22
Household budgets across India are likely to see some relief following the recent revision in Goods and Services Tax (GST) rates, according to a report by PwC.
The Government of India has taken a significant step to boost the automobile industry through rationalisation of GST rates across various vehicle categories and components.
Partho Banerjee, Senior Executive Officer, Marketing and Sales, Maruti Suzuki, said that the new GST rates would help customers who want to switch to four-wheelers. "The gift given by our honourable Prime Minister to the customers of India, we hope that those who want to upgrade to 4 wheeler
Mumbai (Maharashtra) [India], September 9: Cupid Limited (BSE - 530843, NSE - CUPID), - Cupid Limited today welcomed the landmark recommendations of the 56th GST Council meeting, which announced sweeping reductions in Goods & Services Tax (GST) rates across a wide range of essential and cons
The new GST rates and slabs will have a wide-scale positive impact on the many items related to heavy industries, be it auto, transport, or auto ancillaries.
The food-processing sector has been a major beneficiary of the recently announced rationalisation of GST rates, with most products witnessing a decline to a 5 per cent GST slab.
The BJP leader hailed the GST reforms and highlighted the government's decision to provide relief on medicines and essential goods. He said the reforms would strengthen India's economy.
Hyundai Motor India (HMIL) vowed on Sunday that it will pass on the complete benefit of the recent GST rate reduction on passenger vehicles to its customers right from Day 1, i.e. September 22, the date the revised GST rates come into effect.
The reduction in GST rates is forecast to drive a 200 basis points (bps) upshift in two-wheeler demand and a 100 bps increase for PVs, the report added.