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Mamata Banerjee's statement came 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
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“If this is being projected as a savings festival, were the past eight years nothing but a loot festival,” Sapkal asked.
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He noted that outstanding issues remain, especially with MSMEs — the country’s main employment generators.
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This initiative comes ahead of the festive season, underscoring the BJP's focus on public engagement and economic messaging at the ground level.
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New GST News: According to the Hotel Association of India, the rate cut will translate into a 7 per cent relief for travellers on tariffs of up to Rs 7,500, capped at Rs 525 per room per night.
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PM Modi's address comes a day ahead of the beginning of the Hindu religious festival Navratri, when the revised GST rates will kick in
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This price reduction, effective September 22, 2025, has been implemented to ensure that passengers directly benefit from the GST reduction.
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The move is expected to strengthen GST compliance and promote a participatory governance model by empowering consumers to become active stakeholders in fair market practices.
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With the simplification of the Goods and Services Tax from the earlier four slabs to 2 slabs, Sitharaman said Prime Minister Narendra Modi is keen to ensure that the poor and downtrodden, middle class families and the micro, small and medium enterprises (MSMEs) largely benefit out of the GST reforms.
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Home Minister says unprecedented rate cuts will boost investment, consumption, and public trust in the tax system
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The GST overhaul will nearly triple the share of items taxed at 5 per cent, rising from 54 consumption categories to 149 categories under GST 2.0, FICCI's Committee Against Smuggling and Counterfeiting Activities Destroying the Economy said in a report
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In the next phase of indirect tax reforms, the Finance Minister announced that GST 2.0 will feature faster refund mechanisms. “In GST 2.0, 90% of refunds will be automatically given,”Nirmala Sitharaman said.
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While GST 2.0 aims to streamline tax rates, bricks continue to attract dual levy under a special composition scheme, a structure that has remained unchanged since its introduction in 2022.
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Regulators are also examining structural reforms such as monoline alongside composite licenses, which could reshape the way insurers operate in India, Mathur says
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Allowing a writ tax petition filed by Safecon Lifescience Private Limited, Justice Piyush Agrawal held that when the actual movement of goods has been proved by an assessee and the same remains unrebutted by the authority concerned, proceedings under section 74 of the Goods and Services (GST) Act, 2017 are unjustified.
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BJP spokesperson Guruprakash Paswan said Opposition parties are repeatedly raising questions about the country's economy, but the fact is global agencies IMF and the World Bank believe India is an economic hotspot in the world.
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Systemic credit growth stood at 10.03 percent year-on-year in the fortnight ended August 22, signalling that banks are ramping up credit ahead of the festival season amid rate cuts and expected consumption boost following GST regime overhaul.
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The mandatory rate removes the earlier option for these hotels to charge 18 percent with ITC
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NPPA directs firms to issue revised price lists instead of recalling stock; compliance to be ensured at retailer level
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GST 2.0 introduces a simplified tax structure, reduces rates on essentials, and supports MSMEs, boosting economic growth while improving affordability for consumers and businesses alike
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Since the 12 percent and 28 percent slabs are being done away in the new GST regime, which comes into effect from September 22, notifications are required to preserve the existing levies on bricks and tobacco products
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Female workforce participation continues to improve, with WPR rising for a second straight month
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The focus has been on GST slab rate rejig. Unnoticed is the forthcoming shift to AI-assisted, risk-based refund processing system which cuts down human intervention and prioritises trust. The outcome will be a big boost in Indian industry’s competitiveness
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Compensation cess on automobiles will cease to exist effective September 22.
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GST news: When dealers receive such post-sale discounts, they may engage in promotional activities to boost sales. However, these activities ultimately enhance the sale of goods that the dealers themselves own, thereby increasing their own revenue
