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In a significant move, the GST Council recommended a revision of rates for 453 goods during its meeting on September 3, with 413 items seeing a decrease and only 40 experiencing an increase. Notably, around 295 goods will now be taxed at 5% or nil, down from 12%. The Central Consumer Protection Authority (CCPA) is poised to act if businesses fail to pass on these GST cuts to consumers, despite the absence of an anti-profiteering authority for new cases. The CCPA can investigate unfair trade practices and ensure compliance with consumer rights under the Consumer Protection Act 2019. To monitor the impact of these changes, the CBIC has mandated monthly reports on price adjustments from its field formations, starting September 30, 2025. Additionally, the Consumer Affairs Ministry has launched a dedicated portal for GST-related grievances, enhancing consumer engagement in market practices. 
Published: Sep 21 2025, 2 pmeznews.inUnion Minister of Commerce and Industry Piyush Goyal is set to engage with US officials in Washington starting Monday, aiming to advance the sixth round of negotiations for the India-US bilateral trade agreement (BTA) ahead of a year-end deadline. Goyal's visit follows the US's controversial increase in H-1B visa fees to $100,000, which has particularly impacted India's IT sector. He expressed confidence in India's talent, suggesting that it could drive innovation domestically. Key issues hindering negotiations include India's demand for the rollback of US tariffs on Russian oil and US requests for greater market access in sensitive agricultural and manufactured goods. The last round of talks, held in July, failed to yield a mini-deal, leading to the imposition of reciprocal tariffs by the US. Goyal's discussions will also address recent complications, including the visa fee hike and the US's withdrawal of exemptions for Chabahar investments in Iran.
Published: Sep 21 2025, 8 pmeznews.inOn the eve of Navratri, Prime Minister Narendra Modi announced significant GST rate cuts and income tax benefits, projected to save Indians ₹2.5 lakh crore annually. Speaking to the nation, Modi described these reforms as a "savings festival," emphasizing their potential to enhance economic growth and ease of doing business. The new GST rates will take effect on Monday, coinciding with the start of the festival dedicated to the worship of Shakti. Modi highlighted the historical challenges posed by complex tax systems, recalling a 2014 article that illustrated the difficulties faced by businesses in transporting goods within India. He urged states to foster manufacturing and create a favorable investment climate, reinforcing the importance of a collaborative federal structure in the success of GST reforms. The Prime Minister expressed optimism that these changes would ensure equitable development across all states.
Published: Sep 21 2025, 7 pmeznews.inThe Central Board of Direct Taxes (CBDT) has revealed that women constitute less than one-fifth of its workforce, with only 17.5% of its 51,400 employees being female. This gender disparity is highlighted by the fact that only 22.6% of executive roles and 16% of non-executive positions are held by women. Despite ongoing discussions in parliament regarding the introduction of a 30% reservation for women in government roles, Women and Child Development Minister Smriti Irani noted that current constitutional provisions limit total reservations to 50%. While some agencies, like the Securities and Exchange Board of India, have voluntarily published gender data, there remains no legal obligation for the central government or its bodies to do so. The last census of central government employees was conducted in 2011, revealing that women then made up just 10.9% of the workforce, underscoring a significant gap in comprehensive employment data.
Published: Sep 21 2025, 5 pmeznews.inWith the European Union set to implement a carbon tax on various imports, including metals, in just 100 days, Indian exporters face significant challenges due to a lack of preparedness, according to the Global Trade Research Initiative (GTRI). The Carbon Border Adjustment Mechanism (CBAM), effective from January 1, 2026, will impose tariffs on products like steel and aluminum, aiming to equalize carbon costs between EU and imported goods. Despite a two-year transition period, Indian exporters, particularly micro, small, and medium enterprises (MSMEs), are struggling with unclear emissions reporting and verification processes. GTRI founder Ajay Srivastava emphasized the urgent need for India to develop a comprehensive CBAM preparedness plan, including a robust Carbon Credit Trading Scheme (CCTS) and negotiations for transition flexibilities similar to those reportedly granted to the U.S. He warned that without action, Indian exports could face further contraction, as evidenced by a 24.4% drop in steel and aluminum exports to the EU.
Published: Sep 21 2025, 4 pmeznews.inFrom Monday, hotel rooms priced at ₹7,500 or less will see a reduction in tariffs by up to ₹525 as new Goods and Services Tax (GST) rates come into effect, dropping from 12% to 5% without input tax credit (ITC). The Hotel Association of India has welcomed this change, stating it will provide relief to travelers and stimulate growth in the hospitality sector by enhancing revenues and encouraging reinvestment. The revised tax structure is expected to benefit the mid-market segment, catering to India's expanding middle class and boosting demand in Tier 2 and Tier 3 cities. Industry leaders, including Nikhil Sharma from Radisson and Rahool Macarius from Wyndham Hotels, emphasized that the simplified tax framework offers clarity for operators and travelers alike, fostering confidence in the industry's growth potential. However, they also called for a more comprehensive approach to GST reforms that retains ITC for sustained business viability.
Published: Sep 21 2025, 3 pmeznews.inA report by the Comptroller and Auditor General of India (CAG) has revealed a significant rise in committed expenditure across Indian states, with salaries, pensions, and interest payments increasing 2.49 times to ₹15,63,649 crore in fiscal 2022-23, up from ₹6,26,849 crore in 2013-14. This expenditure, which constitutes a large portion of revenue spending, accounted for over 83% of total revenue expenditure in 2022-23. The report highlights that while 17 states aimed for a revenue surplus, only 12 succeeded, with five states, including Assam and Bihar, ending up in revenue deficit. Notably, interest payments surpassed pension expenditures in nine states, indicating higher debt servicing needs. The analysis covers the financial performance of 28 states over the past decade, underscoring the growing fiscal pressures faced by state governments.
Published: Sep 21 2025, 3 pmeznews.inRetailers of Fast-Moving Consumer Goods (FMCG) in India have begun slashing prices across various product categories in anticipation of the upcoming GST 2.0 implementation. The All India Consumer Products Distributors Federation (AICPDF) reported that existing stock has been adjusted to reflect the new tax structure, allowing consumers to benefit from lower prices ahead of the official rollout. AICPDF noted that over the past ten days, FMCG companies have introduced special trade discounts and QPS schemes, ensuring that the advantages of GST 2.0 are felt immediately. As new Maximum Retail Price (MRP) stocks arrive, companies have committed to transparently passing on the full benefits of the tax reduction. AICPDF's National President, Dhairyashil Patil, emphasized that these reforms are timely, coinciding with the festive season, and represent a significant confidence-building measure for the FMCG sector, promoting inclusive growth for both businesses and consumers.
Published: Sep 21 2025, 2 pmeznews.inThe Indian Paper Manufacturers Association (IPMA) has raised concerns over the recent changes in the Goods and Services Tax (GST) structure, particularly the reduction of the GST rate on pulp from 12% to 5%, while the rate on wood, a key raw material for pulp production, remains at 18%. IPMA President Pankaj Agarwal warned that this discrepancy could lead to increased imports of pulp, adversely affecting domestic manufacturers and the livelihoods of Indian farmers. The association has called for an Integrated Goods and Services Tax (IGST) of 18% on paper imports to level the playing field, as current policies allow foreign manufacturers to benefit from zero or preferential duties. Agarwal emphasized that the reduction of GST to nil for uncoated paper used in educational materials would further strain domestic producers, as they would lose input tax credits, ultimately raising costs for consumers. The IPMA has submitted a memorandum to key government officials urging a reconsideration of these tax policies.
Published: Sep 21 2025, 2 pmeznews.inThe Noida International Airport (NIA), under construction in Jewar, Gautam Buddh Nagar, is set to commence operations by the end of 2025, with an inauguration planned for October 30. Union Civil Aviation Minister K Rammohan Naidu confirmed that flight operations will begin within 45 days, initially covering 10 routes. Designed to be India's largest airport by 2050, the project, which began in 2019, faced delays due to the COVID-19 pandemic. Phase 1 includes a runway and a passenger terminal capable of handling 12 million passengers annually, with ongoing technical installations. The airport will feature a CAT III-compliant runway for low visibility operations and has already secured IndiGo as its launch carrier. Additionally, cargo and Maintenance, Repair and Overhaul (MRO) facilities are in development, with significant employment opportunities created for nearly 9,000 workers on-site. The NIA aims to enhance air connectivity across northern India.
Published: Sep 21 2025, 1 pm
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