Former Finance Minister P Chidambaram spoke about the centre's change of stance on GST compensation to states in an exclusive interview to NDTV. He says he welcomes the decision but would not call it a "climbdown". "I welcomed it yesterday. It is indeed a change of heart, but we shouldn't call it a climbdown or standdown. Let's take it as: the centre has eventually recognised the validity of the demand of the opposition-ruled states and has accepted that principal VAT of Rs 1.1 lakh crore should be borrowed by centre and then on lend to the states as a back to back loan," he said.
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Maruti Suzuki has announced the new prices of its car lineup in India under the new GST structure. Check out the updated price now.
Union Minister Ashwini Vaishnaw said the GST reforms, set to come into effect on September 22, will set off a "virtuous cycle" of consumption, production, investment and employment.
A reduction in GST rates will result in more than 150 categories of products getting cheaper from September 22, the company's Managing Director Manish Bandlish told NDTV.
JLR has announced a price cut of up to Rs 30.4 lakh on the Range Rover and other models under GST 2.0.
The company said it is passing "100 per cent of the tax benefit to our patrons" as new GST reform comes into effect from September 22.
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