- 09 Sep 2025 06:37 PM
- New
New GST rates will prove to be a boon for farmers
Source: https://taxguru.in/goods-and-service-tax/gst-rates-prove-boon-farmers.html
Union Agriculture and Rural Development Minister Shri Shivraj Singh Chouhan has announced that recent GST rate revisions will positively impact the agriculture sector, particularly for small and medium-scale farmers. During a press conference in Bhopal, he stated that reduced GST on agricultural equipment like tractors, harvesters, and power tillers from 18% to 5% will lower production costs and increase farmers’ profits. Specific examples show savings ranging from thousands to over a lakh rupees on various machinery. The GST reduction on bio-pesticides and micro-nutrients is intended to promote a shift from chemical to organic farming. The dairy sector will also benefit from the removal of GST on milk and cheese, and a reduction on butter and ghee. Additionally, the new rates apply to allied sectors like beekeeping, fish farming, and handicrafts, supporting integrated farming practices and women’s self-help groups.
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- 09 Sep 2025 06:46 PM
- New
GST Rationalization Boosts Dairy Sector; Most Products Now at Nil or 5%
The 56th GST Council approved significant tax rationalizations for India’s dairy sector, effective September 22, 2025. This reform is one of the most extensive overhauls of GST rates for milk and milk products, with most now at a nil or 5% rate. The changes include reducing GST on UHT milk and pre-packaged paneer to nil, while butter, ghee, cheese, condensed milk, and certain milk beverages now have a 5% GST, down from 12%. Ice cream and milk cans also saw their GST rates drop to 5%. This move is expected to benefit over 8 crore rural farmer families and a large segment of consumers. By lowering operational costs and increasing competitiveness, the reforms aim to support the livelihoods of small farmers and landless laborers. As the world’s largest milk producer, with an output of 239 million tonnes in 2023-24, India’s dairy industry is a cornerstone of the agricultural economy, contributing 5.5% to the national GDP. The GST changes are projected to enhance the sector’s productivity and competitiveness, ensuring sustainable livelihoods for millions.
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- 09 Sep 2025 06:12 PM
- New
GST reforms were long overdue, there were too many rates, says Jamshyd Godrej
Jamshyd Godrej, Managing Director of Godrej & Boyce, has said that the Goods and Services Tax (GST) was long overdue and underlined the need for resilience in the face of global disruptions.
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- 08 Sep 2025 05:14 PM
Govt working on comprehensive package to support exporters hit by US tariffs: Sitharaman
New Delhi, Sep 8 (PTI) The government is working on a comprehensive package to support Indian exporters impacted by a steep 50 per cent tariff imposed by the US, Finance Minister Nirmala Sitharaman has said, asserting a multi-departmental engagement is underway to assess the impact on Indian shipments.
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- 08 Sep 2025 05:20 PM
Nifty Auto surges over 3% as rally extends post GST rate cuts; 5 index stocks hit record highs
The Nifty Auto index climbed 3.4% to 27,220 points, driven by a rally in auto stocks following GST rate cuts. Automakers like Tata Motors and Mahindra announced significant price cuts across key models.
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- 08 Sep 2025 05:28 PM
CBIC to engage with insurers to work out transition mechanism for ITC on exempt policies: Sitharaman
New Delhi, Sep 8 (PTI) The Central Board of Indirect Taxes and Customs (CBIC) will be engaging with the insurance industry to work out a transition mechanism for the accumulated input tax credit (ITC) of those policies which have been exempted from tax with effect from September 22, Finance Minister Nirmala Sitharaman has said.
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- 08 Sep 2025 05:26 PM
Supreme Court transfers online money gaming law challenges to itself
The Supreme Court clarified that all proceedings pending before the high courts regarding challenges to the new gaming law will now be heard only by the top court, and the high courts will not entertain any petition on related cases.
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- 08 Sep 2025 04:47 PM
Audi India revises Q3, A4, Q5, Q7, A6 and Q8 prices after GST 2.0: Here’s how much you can save
Audi India has slashed prices across its lineup after GST 2.0 reduced the overall tax on passenger vehicles. Customers benefit between ₹2.60–7.80 lakh, with models like Q3, A4, Q5, A6, Q7, and Q8 seeing major cuts.
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- 08 Sep 2025 04:51 PM
Why now is the right time to invest in bonds
Investing in bonds is essential for portfolio diversification and stability, especially during equity market volatility. Recent economic changes and interest rate trends in India present a favorable opportunity for bond investments, with yields now more attractive than traditional fixed deposits.
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- 08 Sep 2025 04:43 PM
GST rate cut euphoria fading away from the Indian stock market? Key challenges ahead
The Nifty 50 and Sensex started positively, driven by global signals and GST rate cuts, yet concerns linger about sustaining gains. Analysts suggest short-term global trends will dominate, while the GST reforms may boost consumer demand post-September 22.
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