GST

Finance Minister Nirmala Sitharaman has described the Goods and Services Tax (GST) overhaul as a “people’s reform,” emphasizing its role in creating a transparent, simplified, and consumer-friendly tax regime. Since its implementation, GST has been projected as one of the most ambitious tax transformations in India’s history, unifying multiple indirect taxes into a single system. The government contends that the reform not only streamlines compliance for businesses but also reduces cascading taxes for consumers, thereby fostering efficiency, fairness, and long-term economic growth.

Gameskraft Ltd., a growing player in the gaming and digital entertainment sector, reported a notable decline in quarterly profits, citing increased Goods and Services Tax (GST) liabilities and certain unsanctioned payments as primary factors. While revenue streams remained stable, elevated taxation and regulatory compliance costs weighed on net earnings. Analysts suggest that the results highlight the challenges emerging companies face in managing tax obligations and internal governance in a rapidly expanding digital economy.

The Indian government’s decision to reduce the Goods and Services Tax (GST) on cement from 28% to 18% is poised to deliver significant relief to the infrastructure sector. Industry analysts suggest that this policy change could substantially lower construction costs for government and private projects, boosting profitability and accelerating project timelines. The move is expected to stimulate demand across segments such as housing, roads, and industrial construction, while providing a welcome boost to developers grappling with rising input costs.

The latest GST Council meeting convened to discuss critical reforms in India’s indirect tax framework, emphasizing rate rationalization, revenue protection measures, and sector-specific support for the textile and distribution segments (TDP). Policymakers examined strategies to streamline tax slabs, address compliance challenges, and mitigate revenue shortfalls amid evolving economic conditions. The discussions also highlighted targeted interventions for vulnerable sectors, balancing fiscal prudence with growth promotion.

The government’s decision to lower the Goods and Services Tax (GST) on two-wheelers has been met with strong approval from Hero MotoCorp, India’s largest two-wheeler manufacturer. The tax cut, expected to make motorcycles and scooters more affordable, is likely to stimulate demand in both urban and rural markets. Industry stakeholders believe this policy shift could invigorate the auto sector, which has been grappling with cost pressures and sluggish sales in recent quarters.

India’s e-commerce industry is witnessing a dual impact of recent changes in Goods and Services Tax (GST) compliance rules, coinciding with the onset of the festive shopping season. While regulatory adjustments have added operational complexities for online sellers, consumer demand has surged ahead of Diwali, offering a timely boost to platforms such as Amazon, Flipkart, and emerging domestic marketplaces.