• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

GST Reforms To Lower Rates On 11 Out Of 30 Top Consumption Items: Report

OMMCOM NEWS by OMMCOM NEWS
September 18, 2025
in Business
GST

New Delhi: The new Goods and Services Tax (GST) rates will benefit 11 of the top 30 consumption items and a third of an average consumer’s monthly expenditure, a report said on Thursday.

These 11 items include essential milk products, discretionary products (automobiles, beauty services) and goods, seeing a surge in demand over the past few years (processed food).

“Rough calculations indicate the simple average GST rate based on these top 30 consumption items falls from 11 per cent to 9 per cent under the new regime,” Crisil Ratings said in its report.

The move is likely to improve purchasing power, especially for low-middle income segments, as the consumption-weighted average GST rate is lower in majority of food and household items and will attract either 0 per cent or a 5 tax rate.

Additionally, for some categories, the GST rates have been pared for only lower-value items (clothing, footwear, two-wheelers). This complements the Income-Tax relief announced in the budget for this segment and will support demand.

According to the report, the change in consumption will depend on the degree to which producers pass the rate cuts to consumers.

Global evidence confirms that the pass-through of tax changes varies significantly across countries.

“Furthermore, the adjustment can take time. For India, we expect the impact of GST cuts on consumption to play out over this fiscal and the next,” the report stated.

The recent GST rationalisation is expected to deliver two major gains: A simplified rate structure that eases compliance and delivers a stronger push to formalisation, and an impetus to consumption as prices of mass consumption items decline.

The GST has been reduced across all categories of cars.

The tax rate for entry-level small cars has been lowered from 29 per cent to 18 per cent, even as there was an effective reduction for premium cars (40 per cent from 50 per cent), with the compensation cess being removed.

The report estimated an 8-9 per cent fall in the average prices of entry-level car segments, a 3.5 per cent fall in mid-sized Sports Utility Vehicles (SUVs) and a 6.7 per cent fall in premium SUVs.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

SC Directs States, UTs To Notify Rules For Registration Of Sikh Marriages Through Anand Karaj

Next Post

India’s Efforts To Shape Sustainable Future Across Region Lauded At East Asia Summit Event

Related Posts

Business

Navi Mumbai Airport Is A Symbol Of Bharat’s Aspirations: Gautam Adani

October 8, 2025
Business

RBI Ready With Unified Market Interface: Governor

October 8, 2025
Business

SBI Working To Simplify KYC Process: Chairman CS Setty

October 8, 2025
Business

UPI Reaches 500 Million Consumers, 65 Million Merchants, Says Report

October 8, 2025
Business

Investor Participation Surges To 13.4 Crore In 5 Years: SEBI Chairman

October 8, 2025
Business

Sensex, Nifty End Lower After Volatile Trade; IT Stocks Shine

October 8, 2025
Next Post

India's Efforts To Shape Sustainable Future Across Region Lauded At East Asia Summit Event

Govt Focusing On Raising Share Of Natural Gas In India’s Energy Mix

'Need To Fight For Democracy': Priyanka Gandhi On Rahul's 'Vote Deletion' Claims

Khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.