Tag: GST

Automobiles

Maruti Suzuki Hits Decade-High Festive Demand, Ramps Up Production with Sunday & Holiday Shifts

Tanisha Cardozo

In an unprecedented surge in demand during the festive season, Maruti Suzuki has announced that its supply chain and production teams will now work on Sundays and public holidays to meet delivery expectations. According to Partho Banerjee, Senior Executive Officer, Marketing and Sales at Maruti Suzuki, the company recorded its best Navratri sales in a decade, delivering an astonishing 1.65 lakh vehicles in the first eight days alone.

The strong performance is attributed to a recent Goods and Services Tax (GST) reform, which reduced tax rates on petrol, hybrid, LPG, and CNG vehicles from 28% to 18%, making cars more affordable. The resulting increase in customer sentiment has not only pushed sales but also created a logistical challenge, with over 3.5 lakh bookings reported in the last month and 2.5 lakh units still awaiting delivery.

Banerjee emphasized that while the logistics cycle had begun on September 22, it would take time to stabilize. However, he assured that Maruti Suzuki is fully committed to delivering vehicles to customers by the end of October.

Despite a 6% decline in domestic sales in September, the company saw a 2.7% year-on-year increase in total sales thanks to a massive 52% rise in exports, totaling over 42,000 units. With production ramping up, Maruti Suzuki is aiming to touch the 2 lakh festive delivery mark soon — a significant milestone driven by government policy, market readiness, and evolving customer demand.

This festive season marks a major turning point not only for Maruti Suzuki but for the entire Indian automotive sector, signaling a return to robust growth and renewed consumer confidence.

Business

Goa Leads Nationwide GST Reform with Two-Slab Structure Backed by PM Modi & CM Pramod Sawant

Closed Account

Written by Intern Queeny George M.H, Team Allycaral

The Government of Goa has taken center stage in implementing nationwide GST reforms, with the new two-slab GST structure (5% and 18%) going into effect on September 22, 2025.

The reforms, supported by Chief Minister Dr. Pramod Sawant and endorsed by Prime Minister Narendra Modi, mark a significant milestone in India’s journey toward Aatmanirbhar Bharat and Viksit Bharat.

Key Highlights of the Reform

  • Two-slab structure: Goods & services now taxed at either 5% or 18%.
  • Consumer benefit: Surprise inspections to ensure reduced rates reach buyers.
  • Support for MSMEs: Simplified compliance and reduced tax burden.
  • Boost to local manufacturing & exports: Designed to promote Swadeshi and global competitiveness.

Addressing the nation on the eve of Navratri, PM Modi said the reforms will accelerate India’s growth story:

“Swadeshi will render strength to the country’s prosperity in a similar way it powered India’s freedom movement.”

CM Pramod Sawant, a member of the GST Council, called it the beginning of a GST Bachat Utsav:

“Goa is fully committed to modernising infrastructure, simplifying processes and empowering our entrepreneurs so that Swadeshi products shine proudly in India and across the globe.”

The Bigger Picture

The reform is part of India’s broader policy framework that includes GST simplification, the Insolvency and Bankruptcy Code (IBC), Atmanirbhar Bharat Abhiyan, and the Production-Linked Incentive (PLI) schemes. Together, these initiatives are powering India’s journey from Make in India to Make for the World.

With Goa at the forefront, the reforms are expected to set an example for other states, reinforcing India’s position as a rising global economic powerhouse.

Finance

GCCI Applauds Historic GST Reforms Aimed at Economic Growth and Social Inclusion

Tanisha Cardozo

The Goa Chamber of Commerce & Industry (GCCI), under the leadership of its President Ms. Pratima Dhond, has expressed strong support for the sweeping Goods and Services Tax (GST) reforms announced at the 56th GST Council Meeting. These reforms, hailed as one of the most progressive steps in India’s tax history, aim to simplify the indirect tax structure while promoting inclusive economic growth.

The introduction of a simplified two-slab GST structure — with rates of 5% and 18% — accompanied by a special 40% slab for luxury and sin goods, is expected to bring stability and clarity to the tax regime. GCCI believes this will lead to improved compliance, reduced litigation, and heightened investor and consumer confidence.

Among the most lauded aspects of the reform is the complete removal of GST on all individual life and health insurance policies — a move expected to increase affordability, boost insurance penetration, and strengthen the country’s financial safety net. GCCI considers this a landmark development towards financial inclusion and social security.

In the healthcare sector, the exemption of GST on 33 lifesaving drugs, and reduced rates on others including medical equipment, is expected to reduce the cost burden on citizens and enhance accessibility.

MSMEs, which form the backbone of India’s economy, stand to benefit significantly from reduced compliance burdens and lower tax costs. This boost to competitiveness could further energize employment and innovation in the sector.

The reforms also provide considerable relief to farmers and workers in labor-intensive industries. Reduced GST on tractors, farming equipment, textiles, leather goods, marble, and handicrafts is aimed at reviving rural and artisanal economies.

For households and the common man, daily-use products like soaps, hair oil, milk products, tea, coffee, namkeens, and bicycles now fall under the 5% or NIL tax bracket, improving affordability and encouraging consumption. This is expected to increase demand for discretionary and aspirational products including consumer durables, automobiles, and home appliances — potentially adding 20 to 50 basis points to GDP growth.

The operationalisation of the long-awaited GST Appellate Tribunal is expected to reduce legal disputes and foster ease of doing business. GCCI noted that the reforms address both industry concerns and public needs, maintaining a thoughtful balance. While the government may incur a revenue loss estimated between ₹0.7 to ₹1.8 trillion annually, this is offset by the continued application of the 40% GST rate on luxury and sin goods such as pan masala, aerated drinks, and tobacco.

GCCI President Ms. Dhond summed up the mood, stating, “This across-the-board reform is not only pro-business and pro-consumer, but also pro-society. By making insurance and healthcare affordable, while boosting consumption and competitiveness, the GST reforms will go a long way in strengthening India’s economic growth and socio-economic fabric of our nation.”

These reforms mark a turning point in India’s economic journey — blending fiscal prudence with inclusive growth.