GST Council Meeting: What May Get Cheaper Or Cost More Under New Slabs

High hopes ride on the 56th GST Council meeting as it takes up proposals to simplify slabs and slash rates on key goods and services.

With the latest tariff announcements, inflationary pressures are re-emerging, as higher import costs begin feeding into consumer prices.

GST 2.0: On making the right trading move in the current market, Nilesh Shah said, "My best guess is that it will be a 'buy on correction' rather than a 'sell on rally' for a long-term investor."

In his Independence Day address, PM Modi announced big-ticket Goods and Services Tax (GST) reforms and promised a Diwali bonanza for citizens.

The GST Council, at its meeting scheduled on Sept. 3-4, is expected to decide on a reduction in tax rates on over 150 items belonging to various sectors.

Analysts are weighing in on key themes, including the impact of a potential GST meet, India's push in semiconductors, and the outlook for various companies.

Vishal Vithal Kamat stresses that the 18% GST rate on hotels makes India less attractive compared to destinations like Thailand and Taiwan.

The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.

The auto industry is expecting some major changes from the GST Council meeting, which is scheduled to begin on September 3.

The Goods, Services Tax Council, led by Finance Minister Nirmala Sitharaman, begins a two-day meet today eto discuss a shift to a two-slab system expected to slash prices of daily-use items by reducing the brackets under which most goods are taxed.

The next-gen GST reforms will boost consumption, leading to a "golden period" for consumer durables from FY26 to FY31, Blue Star MD said.

The planned roll out of the next generation GST reforms will set the economy absolutely open and transparent in the coming months, Sitharaman said.

A tax panel has proposed steep increases in consumer levies on luxury electric cars priced above $46,000, a government document showed, a move that could impact sales of carmakers such as Tesla, Mercedes-Benz, BMW and BYD.

Anish Tawakley, co-chief investing officer at ICICI Prudential Mutual Fund, said that are no fundamental problems in the Indian economy. He said the macro indicators are in good shape.