Massive GST Rate Cut Proposed On Over 150 Items; Revenue Hit Pegged At Rs 50,000–60,000 Crore

Among the key proposals is the expansion of the Nil GST category by exempting daily food items like loose paneer, khakhra, pizza bread, chapati, and roti.

Major construction costs currently taxed under the 28% GST slab are cement, paint, sanitary fittings, which together can provide ~Rs 35/sqft of cost relief to consumers if GST rate is reduced to 18%.

If approved, the overhaul will phase out the 12% and 28% slabs, making daily-use items cheaper and offering a major boost to companies in the FMCG and footwear sectors, said Goldman Sachs.

Motilal Oswal and Morgan Stanley have raised the target price on Phoenix Mills and RIL, respectively.

Mishra argued that moving goods down the tax slabs effectively works like a stimulus.

Despite overall uptick in August, the GST revenue from imports declined 1.2%, pointing to a possible moderation in trade activity.

GST 2.0 should phase out the 12% and 28% tax slabs, while only retaining 5% and 18%, the think tank said.

Between April and August, GST revenues totalled Rs 10.04 lakh crore—up 9.9% from Rs 9.13 lakh crore during the same period last year.

Pawan Munjal said the two-wheeler industry is not only a key driver of mobility but also a vital pillar of the national economy

Nifty In Technical Charts: The focus area for the week widens a bit to 24,000 on the lower side and 24,900 at the higher side. The GST rationalisations could trigger a rally.

Auto Stocks In Focus: Post-GST revision, HSBC has raised target price for TVS Motor to Rs 3,500 and Bajaj Auto Ltd. Rs 9,700, while Eicher Motors retains a Hold rating at Rs 5,800.

To make the refund process faster and more transparent, the Delhi GST department, in collaboration with IIT-Hyderabad, has developed an advanced IT module, she said.

Markets would also track the rupee-dollar trend and movement in crude oil prices.

Online shoppers press pause button ahead of GST changes; festivities to boost sales: Analysts