Reduction and rationalisation of Goods and Services Tax slabs - reducing them to two, and exempting certain items, including premiums for health and life insurance - were 18 months in the making, Finance Minister Nirmala Sitharaman said at an NDTV summit Tuesday.
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 Board management had already created field and technical posts under the rationalisation of the Generation Wing in February 2025, which further strengthened the security arrangements of the Larji project.
The sweeping GST reforms unveiled this week will strengthen the cooperative sector, make their products competitive, increase demand for their products and increase the income of cooperatives, the Ministry of Cooperation has said.
The income tax relief provided for in the 2025-26 Budget, coupled with GST rate rationalisation, is set to further push India's economy to another level, Union minister and BJP leader Ashwini Vaishnaw told reporters Saturday, addressing a presser from the party headquarters.
In a statement, USIBC praised the rationalisation of GST slabs and reduction in tax rates across key sectors, including food, healthcare, life-saving drugs, renewable energy, and electronics.
During a press conference in Guwahati organised by Congress, Reddy, a former Gauhati High Court Chief Justice, said, "The Vice President's position cannot be viewed as a mere political office. The qualities required for this chair are akin to those of a judge -- impartiality, rationality, fa
Shiv Sena (UBT) leader Aaditya Thackeray on Friday slammed the Modi government, saying that GST rationalisation was a "bad decision being corrected" and instead of being apologetic, it is "arrogantly being marketed as a gift".
The recent rationalisation of Goods and Services Tax (GST) is set to bring both relief and challenges across India's key sectors, according to the ICRA press release. However, in the oil and gas sector, the move could increase pressure.