Earlier this month, the GST Council announced tax cuts on a wide range of goods — from packaged foods to consumer electronics — as part of its plan to move towards a simplified two-rate structure. The step is aimed at streamlining the tax regime and boosting consumption demand.
New Delhi: Finance Minister Nirmala Sitharaman on Thursday said the GST reforms, including tax rate cuts effective from September 22, are intended to benefit the poor, middle class, farmers, and small businesses, while also spurring consumption and investments.
Speaking at an event in Kolkata on next-generation GST reforms, Finance Minister Nirmala Sitharaman said the measures aim to simplify the tax structure, enhance affordability, improve compliance, and drive industrial growth. She added that the reforms are also designed to support the diverse businesses, crafts, and industries of West Bengal.
The Finance Ministry on Wednesday notified the revamped GST rate structure, introduced changes in forms, and released a set of FAQs to help businesses implement the reforms.
The Finance Ministry on Wednesday notified the revamped GST rate structure, introduced revised forms, and issued FAQs to assist businesses in implementing the reforms.
Earlier this month, the GST Council announced tax cuts on a broad range of daily-use and aspirational goods — from packaged foods to consumer electronics — as part of its plan to transition the indirect tax into a largely two-rate structure. The move is aimed at simplifying the system and boosting consumption demand.
The decisions represent the most significant overhaul of the GST regime to date.
Goods to cost less
Experts said the rate cuts will lower prices, spur consumption, ease complexities and classification disputes, and help move GST closer to being a truly “good and simple tax.”
Sitharaman said the reforms are projected to inject about ₹2 trillion into the economy by boosting consumption and reducing the tax burden.
The GST review was conducted by examining the tax system from multiple user perspectives.
Will it help the poor and the middle class? Will it support the aspirations of the middle class? Will it benefit farmers? Will it assist MSMEs? And for the larger economy, will it drive high-growth sectors, attract investments, and boost consumption as India advances towards becoming Viksit Bharat by 2047?” the minister said, outlining the key considerations behind the tax reform.
The next-generation GST is not just about lowering rates and easing the burden on citizens, but also about removing confusion for businesses and making compliance simpler,” Sitharaman said.
Process Reform at the Core
She said process reform is also a central feature of the new-generation GST changes introduced by the government.
The minister said the revamped GST will take effect from the first day of Navratri, a festival that celebrates and honors the various forms of Goddess Durga.
Sitharaman said that under the new structure, most goods and services fall into two primary slabs — 5% for essentials and 18% for most others. Essential food items, medicines, health insurance, daily-use consumer goods, household electronics, digital learning tools, and supplies for educational institutions are among those that have gained from the tax relief.
Compliance norms relaxed for packaged goods firms ahead of GST revision
The Consumer Affairs Ministry has eased compliance for packaged goods companies ahead of the GST rate revisions, permitting voluntary use of price stickers and waiving the requirement for newspaper notifications. Companies can also use existing packaging until March 31, 2026, providing the FMCG sector a smoother transition.
Mumbai: The Consumer Affairs Ministry has eased compliance requirements for packaged goods companies ahead of the rollout of the revised Goods and Services Tax (GST) rates
In a notification issued on Thursday, the Department of Consumer Affairs allowed the “voluntary” use of revised price stickers on goods and waived the requirement for manufacturers and importers to publish revised prices in two newspapers.
Govt allows central employees one-time switch from NPS to OPS
The government has extended a one-time option for central government employees enrolled in the National Pension System (NPS) to migrate to the Unified Pension Scheme (UPS).
New Delhi, Sep 16 (PTI): The government has extended a one-time option for central government employees who joined service between April 1 and August 31, 2025, and enrolled in the National Pension System (NPS), to migrate to the Unified Pension Scheme (UPS).
The option can be exercised until September 30, 2025, in line with the cut-off date already set for other eligible categories under UPS, the Finance Ministry said in a statement on Tuesday.
NEW DELHI: Finance Minister Nirmala Sitharaman urged Indian industry to shed its hesitation and step up investments, saying the government has delivered on tax reforms, liberalized foreign investment, and improved ease of doing business.
Saatvik Green Energy IPO: ₹900 crore issue opens tomorrow — 10 key highlights from RHP
Saatvik Green Energy’s IPO will be open for subscription from September 19 to 23, with a target of raising ₹900 crore. The price band has been fixed at ₹442–₹465 per share, and retail investors can bid for a minimum of 32 shares. The proceeds will support the company’s plan to expand its solar module manufacturing capacity.
Saatvik Green Energy IPO in focus: The company’s initial public offering will open for subscription tomorrow, September 19, and remain open until Tuesday, September 23.
The IPO aims to raise ₹900 crore, comprising a fresh issue of 1.51 crore shares worth ₹700 crore and an offer for sale of 0.43 crore shares totaling ₹200 crore.
The IPO price band is set at ₹442–₹465 per share. Retail investors can apply for a minimum of one lot of 32 shares and up to 13 lots. At the upper end of the band, ₹465 per share, the minimum investment works out to ₹14,880 per lot.
New Delhi | 18 Sep 2025 – The government will expedite Bureau of Indian Standards (BIS) clearances for Taiwanese integrated steel plants, enabling Indian MSMEs to import raw materials under a quality control order (QCO) notified on 13 June, according to two officials aware of the matter.
Harsh Kumar