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As India has a Goods and Services Tax, most other countries levy Value Added Tax (VAT). As of 2025, Hungary highest standard VAT among all nations. Here is the list of the Top 7 countries with the highest VAT rates. 

As India has a Goods and Services Tax, most other countries levy Value Added Tax (VAT). As of 2025, Hungary highest standard VAT among all nations. Here is the list of the Top 7 countries with the highest VAT rates.&nbsp;

Top 7 countries with highest VAT rates in 2025- Hungary tops the list at 27% and how India compares

Years of cyberattacks, specifically a major campaign called Salt Typhoon, may have given Chinese intelligence agencies data on practically all Americans, according to a New York Times report. These attacks, which have been ongoing for years, targeted more than 80 countries and infiltrated major telecommunications companies, allowing China to track the US and other countries, according to the report that cited American intelligence sources and officials. The hackers reportedly targeted President Donald Trump and Vice President JD Vance during their campaign days, as well as Democratic politicians.<h2>Chinese hacking of Americans is not new, but…</h2>China has been hacking American power grids and companies to steal sensitive data and intellectual property for years. But the Salt Typhoon hack is considered the most ambitious and extensive from China yet, the NYT report claimed, citing officials who said it reflected China’s cyber capabilities rivalling those of the US and its allies.<a href="https://www.wionews.com/world/caution-hackers-mimicking-us-officials-by-using-ai-voice-messages-fbi-warns-they-are-trying-to-break-into-systems-9075954">Also read: Hackers mimicking US officials by using AI-voice messages, FBI warns they are trying to break into systems</a><h2>The Salt Typhoon attack: A coordinated, years-long penetration</h2>The report described the Salt Typhoon attack as a coordinated, years-long assault that penetrated telecommunications, government, transportation, lodging, and military sector networks worldwide. British and American officials labelled it “unrestrained” and “indiscriminate.” The US, Canada, Finland, Germany, Italy, Japan, and Spain condemned the Chinese government’s role.The report quoted Cynthia Kaiser, former FBI cyber division official, as saying, “I can’t imagine any American was spared given the breadth of the campaign.”<a href="https://www.wionews.com/india-news/pakistan-based-hacker-group-targets-india-again-claims-military-data-theft-idsa-denies-breach-9037739">Also read: 'WE KNOW HOW YOU THINK': Pakistan-based hacker group targets India again, claims military data theft; IDSA denies breach</a><h2>Were all Americans’ data collected deliberately by Chinese hackers?</h2>As per the NYT report, it is not clear if ordinary Americans’ data was specifically targeted or collected accidentally.&nbsp;But the Salt Typhoon cyber offensive covered a broader scope than past Chinese hacks, which focused narrowly on security personnel or sensitive government workers.<a href="https://www.wionews.com/trending/who-is-robert-iran-linked-hackers-claim-to-have-100-gb-of-trump-aides-emails-threaten-to-sell-them-explained-1751356472532">Also read: Who is ‘ROBERT’? Iran-linked hackers claim to have 100 GB of Trump aides’ emails, threaten to sell them | Explained</a><h2>A new era of cyberattacks: Sophisticated, patient, and persistent</h2>According to the report, Salt Typhoon represents Chinese cyber operations that deeply infiltrate global infrastructure in a systematic and consistent way. It quoted Jennifer Ewbank, former CIA deputy director for digital innovation, as saying that “Salt Typhoon marks a new chapter” compared to a decade ago when Chinese hacks used rudimentary techniques.<a href="https://www.wionews.com/business-economy/allianz-life-hack-exposes-data-of-most-us-clients-fbi-steps-in-1753608505963">Also read: Allianz Life hack exposes data of most US clients, FBI steps in</a><h2>From China tech firms to intel agencies: Who is behind China’s hacking of Americans?</h2>Reports have indicated that at least three China-based technology companies have been linked to the hacks, working for Chinese military and intelligence agencies since at least 2019.The aim of the hacks was to identify and track their targets’ communications and movements around the world, including those of Trump and other leaders.<a href="https://www.wionews.com/videos/globalx-airline-used-for-trump-deportations-hacked-report-9041221/embed">https://www.wionews.com/videos/globalx-airline-used-for-trump-deportations-hacked-report-9041221/embed</a><h2>At least six US telecom companies were breached in Chinese hacks</h2>At least six US telecommunications companies were infiltrated by the hackers, who exploited old network vulnerabilities. The hackers also entered the networks of lodging and transportation companies. Companies like Marriott, health insurers, and the US Office of Personnel Management have been targeted by the hackers. In 2021, the Biden administration accused China of breaching Microsoft email systems. Russia has also conducted state-sponsored hacks. Western countries’ responses to Salt Typhoon remain unclear. According to Senator Mark Warner, top Democrat on the Senate Intelligence Committee, the hackers could “listen in on telephone conversations and read unencrypted text messages.”<h2>Why would Chinese hackers need data from all Americans?</h2>The strategy could be to collect vast data sets over years for eventual exploitation, the NYT report cited cybersecurity expert Jamie MacColl as saying. “If you’re a cyber power, then it makes sense you would want to compromise the global communications network.”Salt Typhoon is more than a one-off intelligence success for China, according to Anne Neuberger, a Biden administration cybersecurity official. It “reflected a deeper, troubling reality” of China positioning “to dominate the digital battle space.” &nbsp;

A major Chinese cyberattack campaign called Salt Typhoon reportedly compromised data from nearly all Americans, infiltrating global telecoms, government, and infrastructure networks. This is a new warfare: years-long, patient, widespread and consistent attack on cyber infrastructure 

Years of cyberattacks, specifically a major campaign called Salt Typhoon, may have given Chinese intelligence agencies data on practically all Americans, according to a New York Times report. These attacks, which have been ongoing for years, targeted more than 80 countries and infiltrated major telecommunications companies, allowing China to track the US and other countries, according to the report that cited American intelligence sources and officials. The hackers reportedly targeted President Donald Trump and Vice President JD Vance during their campaign days, as well as Democratic politicians. Chinese hacking of Americans is not new, but… China has been hacking American power grids and companies to steal sensitive data and intellectual property for years. But the Salt Typhoon hack is considered the most ambitious and extensive from China yet, the NYT report claimed, citing officials who said it reflected China’s cyber capabilities rivalling those of the US and its allies. Also read: Hackers mimicking US officials by using AI-voice messages, FBI warns they are trying to break into systems The Salt Typhoon attack: A coordinated, years-long penetration The report described the Salt Typhoon attack as a coordinated, years-long assault that penetrated telecommunications, government, transportation, lodging, and military sector networks worldwide. British and American officials labelled it “unrestrained” and “indiscriminate.” The US, Canada, Finland, Germany, Italy, Japan, and Spain condemned the Chinese government’s role. The report quoted Cynthia Kaiser, former FBI cyber division official, as saying, “I can’t imagine any American was spared given the breadth of the campaign.” Also read: 'WE KNOW HOW YOU THINK': Pakistan-based hacker group targets India again, claims military data theft; IDSA denies breach Were all Americans’ data collected deliberately by Chinese hackers? As per the NYT report, it is not clear if ordinary Americans’ data was specifically targeted or collected accidentally. But the Salt Typhoon cyber offensive covered a broader scope than past Chinese hacks, which focused narrowly on security personnel or sensitive government workers. Also read: Who is ‘ROBERT’? Iran-linked hackers claim to have 100 GB of Trump aides’ emails, threaten to sell them | Explained A new era of cyberattacks: Sophisticated, patient, and persistent According to the report, Salt Typhoon represents Chinese cyber operations that deeply infiltrate global infrastructure in a systematic and consistent way. It quoted Jennifer Ewbank, former CIA deputy director for digital innovation, as saying that “Salt Typhoon marks a new chapter” compared to a decade ago when Chinese hacks used rudimentary techniques. Also read: Allianz Life hack exposes data of most US clients, FBI steps in From China tech firms to intel agencies: Who is behind China’s hacking of Americans? Reports have indicated that at least three China-based technology companies have been linked to the hacks, working for Chinese military and intelligence agencies since at least 2019. The aim of the hacks was to identify and track their targets’ communications and movements around the world, including those of Trump and other leaders. https://www.wionews.com/videos/globalx-airline-used-for-trump-deportations-hacked-report-9041221/embed At least six US telecom companies were breached in Chinese hacks At least six US telecommunications companies were infiltrated by the hackers, who exploited old network vulnerabilities. The hackers also entered the networks of lodging and transportation companies. Companies like Marriott, health insurers, and the US Office of Personnel Management have been targeted by the hackers. In 2021, the Biden administration accused China of breaching Microsoft email systems. Russia has also conducted state-sponsored hacks. Western countries’ responses to Salt Typhoon remain unclear. According to Senator Mark Warner, top Democrat on the Senate Intelligence Committee, the hackers could “listen in on telephone conversations and read unencrypted text messages.” Why would Chinese hackers need data from all Americans? The strategy could be to collect vast data sets over years for eventual exploitation, the NYT report cited cybersecurity expert Jamie MacColl as saying. “If you’re a cyber power, then it makes sense you would want to compromise the global communications network.” Salt Typhoon is more than a one-off intelligence success for China, according to Anne Neuberger, a Biden administration cybersecurity official. It “reflected a deeper, troubling reality” of China positioning “to dominate the digital battle space.”

A major Chinese cyberattack campaign called Salt Typhoon reportedly compromised data from nearly all Americans, infiltrating global telecoms, government, and infrastructure networks. This is a new warfare: years-long, patient, widespread and consistent attack on cyber infrastructure&nbsp;

China has stolen data on all Americans? Salt Typhoon cyberattacks are a goldmine for Beijing's intelligence agencies, claims report

Maruti Suzuki chairman RC Bhargava said on Thursday that the prices of his company's most popular cars will drastically decrease after the Centre lowered GST on small cars. The Centre on Wednesday announced that GST's 12 per cent and 28 per cent slabs will be eliminated. Most of the goods and services will be moved from these slabs into the 5 per cent and 18 per cent GST slabs.&nbsp;Bhargava said that the Maruti Suzuki Alto, the company's cheapest offering, may become cheaper by Rs 40000-50000. Wagon R, another of the company's popular offerings, may become cheaper by Rs 60,000-67,000.&nbsp;“With the latest GST reduction, we project that the small car market, which was degrowing, will now grow this year by over 10 per cent,” Bhargava was quoted as saying by Business Standard.&nbsp;He said that the overall car market will grow by 6-8 per cent. This is because the consumers will have more money to spend, which may provide a fillip to domestic&nbsp;consumption.&nbsp;He said that even luxury cars will get cheaper because the Centre has capped the sin tax at 40 per cent. For a car price at Rs 1 crore, he said, a 5 per cent tax difference will amount to significant savings.<h2>What are the new GST rates on cars?</h2>The GST rate on small cars will be reduced from 28 per cent to 18 per cent. For GST, small cars are defined as those LPG, petrol, and CNG cars with an engine capacity up to 1200 cc and a length under 4000 mm. The GST rate on all mid-size and large cars -- vehicles exceeding 1500 cc or length exceeding 4000 mm – will be 40%.&nbsp;Motor vehicles in the category of Utility Vehicles, including Sports Utility Vehicles (SUV), Multi Utility Vehicles (MUV), Multi-purpose Vehicles (MPV) or Cross-Over Utility Vehicles (XUV), with an engine capacity exceeding 1500 cc, length exceeding 4000 mm, and ground clearance of 170 mm and above, will also attract a GST rate of 40% without any cess.

Maruti Suzuki chairman RC Bhargava said on Thursday that the prices of his company's most popular cars will drastically decrease after the Centre lowered GST on small cars.

Maruti Suzuki chairman RC Bhargava said on Thursday that the prices of his company's most popular cars will drastically decrease after the Centre lowered GST on small cars. The Centre on Wednesday announced that GST's 12 per cent and 28 per cent slabs will be eliminated. Most of the goods and services will be moved from these slabs into the 5 per cent and 18 per cent GST slabs. Bhargava said that the Maruti Suzuki Alto, the company's cheapest offering, may become cheaper by Rs 40000-50000. Wagon R, another of the company's popular offerings, may become cheaper by Rs 60,000-67,000. “With the latest GST reduction, we project that the small car market, which was degrowing, will now grow this year by over 10 per cent,” Bhargava was quoted as saying by Business Standard. He said that the overall car market will grow by 6-8 per cent. This is because the consumers will have more money to spend, which may provide a fillip to domestic consumption. He said that even luxury cars will get cheaper because the Centre has capped the sin tax at 40 per cent. For a car price at Rs 1 crore, he said, a 5 per cent tax difference will amount to significant savings. What are the new GST rates on cars? The GST rate on small cars will be reduced from 28 per cent to 18 per cent. For GST, small cars are defined as those LPG, petrol, and CNG cars with an engine capacity up to 1200 cc and a length under 4000 mm. The GST rate on all mid-size and large cars -- vehicles exceeding 1500 cc or length exceeding 4000 mm – will be 40%. Motor vehicles in the category of Utility Vehicles, including Sports Utility Vehicles (SUV), Multi Utility Vehicles (MUV), Multi-purpose Vehicles (MPV) or Cross-Over Utility Vehicles (XUV), with an engine capacity exceeding 1500 cc, length exceeding 4000 mm, and ground clearance of 170 mm and above, will also attract a GST rate of 40% without any cess.

New GST rates 2025: The GST rate on small cars will be reduced from 28 per cent to 18 per cent. On larger cars, there will be a sin tax of 40 per cent, but it will be lower than the existing taxes.

New GST rates 2025: Maruti Suzuki Alto, Maruti Suzuki Wagon R to be cheaper by up to Rs 67000

Following a meeting between Tamil Nadu Chief Minister MK Stalin and officials from the Rolls-Royce group in the UK, the Tamil Nadu Government announced that the British Defence and Aerospace firm expressed strong interest in expanding its operations in Tamil Nadu, with the addition of a Maintenance, Repair &amp; Overhaul, research and development, training centre and a significant expansion of its IAMPL joint venture in Hosur. Notably, Rolls-Royce is among the few conglomerates that plays a leading role in high-end jet engine manufacturing for civilian and military use.&nbsp;Further, the Tamil Nadu Government announced signing MoUs with a wide range of European firms from domains including defence and aerospace, shipbuilding intelligence, renewable energy, textile technology, and design. These MoUs were inked during Chief Minister Stalin's ongoing TN RISING European tour.&nbsp;&nbsp;These MoUs represent long-term strategic steps for Tamil Nadu in high-value and future-relevant sectors, positioning it as a national and global leader, the Government said. Lloyd's List Intelligence (SEASEARCHER) has signed a Memorandum of Understanding (MoU) to expand its Global Capability Centre in Chennai. The expansion by Lloyd's, a world leader in maritime risk management, insurance and ship tracking analytics, will significantly enhance Tamil Nadu's capabilities in shipbuilding, port management and maritime technology. Its flagship SEASEARCHER facility provides real-time visibility into global ship movements, ownership structures and port operations. This will boost Tamil Nadu's vast blue economy potential.&nbsp;Wilson Power &amp; Distribution Technologies has signed a Memorandum of Understanding (MoU) with Tamil Nadu to set up a new power transformer manufacturing facility in Tamil Nadu with an investment of Rs. 300 crore and employment of 543 people. More than 80 to 90 percent of its production will go towards renewable energy projects. This will directly contribute to Tamil Nadu becoming a green energy manufacturing capital and strengthen its clean technology value chain.&nbsp;Strengthening Tamil Nadu's position as India's leading textile export hub, Britannia RFID Technologies India, a subsidiary of UK-headquartered Britannia Garment Packaging, has signed a Memorandum of Understanding (MoU) to set up a high-capacity RFID Tag manufacturing unit in Tiruppur and Namakkal with an investment of Rs. 520 crore and employment to 550 people. This will help in digitizing the traceability and supply chain in the garment sector.&nbsp;The Tamil Nadu government said that these&nbsp; MoUs are a concrete example of the state leveraging the India-UK Free Trade Agreement to enhance sectoral cooperation and attract high-quality international investment.&nbsp;

Tamil Nadu Government announced signing MoUs with a wide range of European firms from domains including defence and aerospace, shipbuilding intelligence, renewable energy, textile technology, and design. 

Following a meeting between Tamil Nadu Chief Minister MK Stalin and officials from the Rolls-Royce group in the UK, the Tamil Nadu Government announced that the British Defence and Aerospace firm expressed strong interest in expanding its operations in Tamil Nadu, with the addition of a Maintenance, Repair & Overhaul, research and development, training centre and a significant expansion of its IAMPL joint venture in Hosur. Notably, Rolls-Royce is among the few conglomerates that plays a leading role in high-end jet engine manufacturing for civilian and military use. Further, the Tamil Nadu Government announced signing MoUs with a wide range of European firms from domains including defence and aerospace, shipbuilding intelligence, renewable energy, textile technology, and design. These MoUs were inked during Chief Minister Stalin's ongoing TN RISING European tour. These MoUs represent long-term strategic steps for Tamil Nadu in high-value and future-relevant sectors, positioning it as a national and global leader, the Government said. Lloyd's List Intelligence (SEASEARCHER) has signed a Memorandum of Understanding (MoU) to expand its Global Capability Centre in Chennai. The expansion by Lloyd's, a world leader in maritime risk management, insurance and ship tracking analytics, will significantly enhance Tamil Nadu's capabilities in shipbuilding, port management and maritime technology. Its flagship SEASEARCHER facility provides real-time visibility into global ship movements, ownership structures and port operations. This will boost Tamil Nadu's vast blue economy potential. Wilson Power & Distribution Technologies has signed a Memorandum of Understanding (MoU) with Tamil Nadu to set up a new power transformer manufacturing facility in Tamil Nadu with an investment of Rs. 300 crore and employment of 543 people. More than 80 to 90 percent of its production will go towards renewable energy projects. This will directly contribute to Tamil Nadu becoming a green energy manufacturing capital and strengthen its clean technology value chain. Strengthening Tamil Nadu's position as India's leading textile export hub, Britannia RFID Technologies India, a subsidiary of UK-headquartered Britannia Garment Packaging, has signed a Memorandum of Understanding (MoU) to set up a high-capacity RFID Tag manufacturing unit in Tiruppur and Namakkal with an investment of Rs. 520 crore and employment to 550 people. This will help in digitizing the traceability and supply chain in the garment sector. The Tamil Nadu government said that these MoUs are a concrete example of the state leveraging the India-UK Free Trade Agreement to enhance sectoral cooperation and attract high-quality international investment.

Tamil Nadu Government announced signing MoUs with a wide range of European firms from domains including defence and aerospace, shipbuilding intelligence, renewable energy, textile technology, and design.&nbsp;

Rolls-Royce expressed interest to setup MRO unit in Tamil Nadu, says government

The Central government on Wednesday announced a mega reform in the Goods and Services Tax (GST) structure as it eliminated two tax slabs. Finance Minister Nirmala Sitharaman announced the decision of the GST Council to eliminate the 12 per cent and 28 per cent GST slabs and move most of the items in these slabs to the 5 per cent and 18 per cent categories. Consequently, the prices of several items, including cars and daily-use items, are slated to decrease from September 22.<h2>How many types of GST are there in India?</h2>As of now, there are four types of GST in India. They are: Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST). What&nbsp;are they?<h2>Integrated Goods and Services Tax or IGST</h2>It is a tax under the GST structure. It is defined as the interstate tax for the supply of goods and services between two states. It is also applied to imports and exports. It is governed by the IGST Act. The Central government collects the tax and divides it among the states. For instance, a trader sells goods from UP to West Bengal. The value of the item is Rs 1000, and IGST is 18 per cent, then the trader would be charged Rs 1180. The Centre would get Rs 180 as tax.<h2>State Goods and Services Tax or SGST</h2>The State Goods and Services Tax, or SGST, is a tax levied on intrastate transactions, which means transactions within the state. Both the Centre and the state where the transaction had taken place exact GST. The state's direct taxation is called SGST. Under SGST, the tax goes solely to the state. It is normally half of the total GST charged. For instance, if the total tax is 18 per cent, the state would get 9 per cent. If we go by the example given above, under SGST, a state might get Rs 90 out of Rs 180.<h2>Central Goods and Services Tax or CGST</h2>The Centre charges CGST on all intrastate goods and services. It is normally equal to the SGST. In the above example, the other 9 per cent, which amounts to Rs 90, will go to the central government.<h2>Union Territory Goods and Services Tax or UTGST</h2>The Union Territory Goods and Services Tax or UTGST is similar to the SGST. It is levied on the supply of goods and services in the Union Territories (UTs) -- which are Andaman and Nicobar Islands, Chandigarh, Daman Diu, Dadra, and Nagar Haveli, and Lakshadweep.

The Central government on Wednesday announced a mega reform in the Goods and Services Tax (GST) structure as it eliminated two tax slabs.

The Central government on Wednesday announced a mega reform in the Goods and Services Tax (GST) structure as it eliminated two tax slabs. Finance Minister Nirmala Sitharaman announced the decision of the GST Council to eliminate the 12 per cent and 28 per cent GST slabs and move most of the items in these slabs to the 5 per cent and 18 per cent categories. Consequently, the prices of several items, including cars and daily-use items, are slated to decrease from September 22. How many types of GST are there in India? As of now, there are four types of GST in India. They are: Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST). What are they? Integrated Goods and Services Tax or IGST It is a tax under the GST structure. It is defined as the interstate tax for the supply of goods and services between two states. It is also applied to imports and exports. It is governed by the IGST Act. The Central government collects the tax and divides it among the states. For instance, a trader sells goods from UP to West Bengal. The value of the item is Rs 1000, and IGST is 18 per cent, then the trader would be charged Rs 1180. The Centre would get Rs 180 as tax. State Goods and Services Tax or SGST The State Goods and Services Tax, or SGST, is a tax levied on intrastate transactions, which means transactions within the state. Both the Centre and the state where the transaction had taken place exact GST. The state's direct taxation is called SGST. Under SGST, the tax goes solely to the state. It is normally half of the total GST charged. For instance, if the total tax is 18 per cent, the state would get 9 per cent. If we go by the example given above, under SGST, a state might get Rs 90 out of Rs 180. Central Goods and Services Tax or CGST The Centre charges CGST on all intrastate goods and services. It is normally equal to the SGST. In the above example, the other 9 per cent, which amounts to Rs 90, will go to the central government. Union Territory Goods and Services Tax or UTGST The Union Territory Goods and Services Tax or UTGST is similar to the SGST. It is levied on the supply of goods and services in the Union Territories (UTs) -- which are Andaman and Nicobar Islands, Chandigarh, Daman Diu, Dadra, and Nagar Haveli, and Lakshadweep.

Goods and Services Tax (GST) 2025: Finance Minister Nirmala Sitharaman on Wednesday announced the reforms, wherein the 12 per cent and 28 per cent GST slabs were eliminated.

GST Reforms 2025: What are the types of GST in India? SGST, CGST, IGST, UTGST explained

The White House has removed the World Trade Organization (WTO) from its official list of $4.9 billion in proposed foreign aid cuts, just days after including it in a sweeping budget rollback aimed at international institutions, mainly United Nations agencies. The reversal of Thursday (Sep 4) marks a rare moment of retreat in President Donald Trump’s second term, &nbsp;with his zigzag approach to US engagement with global institutions.&nbsp;<h2>Trump and funding cuts for UN agencies: A familiar pattern</h2>Since he returned to the Oval Room, Trump has issued orders targeting international aid and relief agencies and the United Nations.&nbsp;One of his first executive orders on 20 &nbsp;January this year paused nearly all foreign development aid for 90 days, including funding for UN agencies.&nbsp;On 4 February 4, &nbsp;his government took direct aim at several familiar targets:He cut funds to UNRWA, the UN agency supporting Palestinian refugees, citing its alleged ties to the Hamas militant group tied to the 7 October 2023 attacks on Israel. The US fully withdrew from the UN Human Rights Council, as it did in Trump's first term in 2018. UNESCO was placed under formal review, without any funding changes as of now.<h2>The WTO funding issue: How it started</h2>The second Trump administration tried to cancel $4.9 billion in foreign aid already approved by US Congress through the rarely used "pocket rescission" under the Impoundment Control Act.The list included $521 million earmarked for multilateral organisations. Among these was the $29 million annual US contribution to the WTO. The cutting of this aid was made in a public announcement in late AugustBut WTO is a different kind of beast. It is still the main legal framework guiding international trade. The US was already behind on its payments—as of December 2024, it owed the WTO nearly 11 per cent of its total budget. The WTO marked these arrears under “Category 1” , which limits US participation in key functions like dispute panels.Lawmakers argued the WTO fund cut move violated Congress’s constitutional power of the purse. The Trump administration was warned that cutting funds to the WTO would give more influence to US rivals like China.&nbsp;The pressure has now made the Trump administration walk back, with the White House removing WTO from the pocket recessions list.<a href="https://www.wionews.com/videos/wto-chief-warns-of-biggest-trade-disruption-in-80-years-1756876442912/embed">https://www.wionews.com/videos/wto-chief-warns-of-biggest-trade-disruption-in-80-years-1756876442912/embed</a><h2>WTO move is similar to Trump's steps against other global agencies</h2>In his first and second terms, the Trump administration made several steps to move away from multilateralism.It cut all funding to UNRWA in 2018, ending decades of American leadership as its top donor. The first Trump administration withdrew the US from UNESCO in 2017, citing alleged anti-Israel bias. In 2017, it defunded the UN Population Fund (UNFPA), alleging coercive reproductive practices in China. <a href="https://www.wionews.com/world/brazil-seeks-wto-relief-against-donald-trump-tariffs-report-1754504862581">Also read: Brazil seeks WTO relief against Donald Trump tariffs: Report</a>&nbsp;Most widely known move from the first term of Trump was the suspension of US funding to the WHO in 2020 during the COVID-19 pandemic. At the time, Trump blamed the UN health agency's deference to China. In 2019, the Trump administration blocked appointments to the WTO's dispute resolution system, effectively crippling the appellate body.<a href="https://www.wionews.com/world/trump-tariffs-wto-warns-of-economic-turbulence-ahead-slashes-global-trade-forecast-figures-8969720">Also read: Trump tariffs: WTO warns of economic turbulence ahead, slashes global trade forecast figures</a><h2>Suspicion, withdrawal, funding cuts: Trump's deep dislike for international organisations</h2>The WTO funding issue is the latest in the Trump administration's consistent bashing of global bodies. &nbsp;Across his fist and second terms, Trump made the same approach to multilateral organisations: suspicion, withdrawal, and budget cuts. But he probably realised that cutting funds to a crucial organisation like WTO will get the US entangled in international diplomatic wranglings and trade disputes.

From UNRWA to the WTO and WHO, Trump’s second term echoes his first when it comes to cutting funds for United Nations agencies. Here is the story of his hot and cold, impulsive approach to these global agencies 

The White House has removed the World Trade Organization (WTO) from its official list of $4.9 billion in proposed foreign aid cuts, just days after including it in a sweeping budget rollback aimed at international institutions, mainly United Nations agencies. The reversal of Thursday (Sep 4) marks a rare moment of retreat in President Donald Trump’s second term, with his zigzag approach to US engagement with global institutions. Trump and funding cuts for UN agencies: A familiar pattern Since he returned to the Oval Room, Trump has issued orders targeting international aid and relief agencies and the United Nations. One of his first executive orders on 20 January this year paused nearly all foreign development aid for 90 days, including funding for UN agencies. On 4 February 4, his government took direct aim at several familiar targets: He cut funds to UNRWA, the UN agency supporting Palestinian refugees, citing its alleged ties to the Hamas militant group tied to the 7 October 2023 attacks on Israel. The US fully withdrew from the UN Human Rights Council, as it did in Trump's first term in 2018. UNESCO was placed under formal review, without any funding changes as of now. The WTO funding issue: How it started The second Trump administration tried to cancel $4.9 billion in foreign aid already approved by US Congress through the rarely used "pocket rescission" under the Impoundment Control Act. The list included $521 million earmarked for multilateral organisations. Among these was the $29 million annual US contribution to the WTO. The cutting of this aid was made in a public announcement in late August But WTO is a different kind of beast. It is still the main legal framework guiding international trade. The US was already behind on its payments—as of December 2024, it owed the WTO nearly 11 per cent of its total budget. The WTO marked these arrears under “Category 1” , which limits US participation in key functions like dispute panels. Lawmakers argued the WTO fund cut move violated Congress’s constitutional power of the purse. The Trump administration was warned that cutting funds to the WTO would give more influence to US rivals like China. The pressure has now made the Trump administration walk back, with the White House removing WTO from the pocket recessions list. https://www.wionews.com/videos/wto-chief-warns-of-biggest-trade-disruption-in-80-years-1756876442912/embed WTO move is similar to Trump's steps against other global agencies In his first and second terms, the Trump administration made several steps to move away from multilateralism. It cut all funding to UNRWA in 2018, ending decades of American leadership as its top donor. The first Trump administration withdrew the US from UNESCO in 2017, citing alleged anti-Israel bias. In 2017, it defunded the UN Population Fund (UNFPA), alleging coercive reproductive practices in China. Also read: Brazil seeks WTO relief against Donald Trump tariffs: Report Most widely known move from the first term of Trump was the suspension of US funding to the WHO in 2020 during the COVID-19 pandemic. At the time, Trump blamed the UN health agency's deference to China. In 2019, the Trump administration blocked appointments to the WTO's dispute resolution system, effectively crippling the appellate body. Also read: Trump tariffs: WTO warns of economic turbulence ahead, slashes global trade forecast figures Suspicion, withdrawal, funding cuts: Trump's deep dislike for international organisations The WTO funding issue is the latest in the Trump administration's consistent bashing of global bodies. Across his fist and second terms, Trump made the same approach to multilateral organisations: suspicion, withdrawal, and budget cuts. But he probably realised that cutting funds to a crucial organisation like WTO will get the US entangled in international diplomatic wranglings and trade disputes.

From UNRWA to the WTO and WHO, Trump’s second term echoes his first when it comes to cutting funds for United Nations agencies. Here is the story of his hot and cold, impulsive approach to these global agencies&nbsp;

Trump administration quietly moves back from cutting funds to WTO. How it blew hot and cold on UN agencies over the years

The GST Council has announced big cuts in the daily purchase segment to provide relief to the middle class, to revive consumption prior to the upcoming festive season, to cushion the impact of US tariffs. Prime Minister Narendra Modi on Wednesday hailed the reforms of the GST Council saying they would improve the lives of all and ensure the ease of doing business for all. The major move hailed by many is moving the packaged staples, personal care items and household and kitchen goods from the 18 per cent and 12 per cent slabs to the 5 per cent slab. GST on all individual health and life insurance policies were exempted.&nbsp;

<blockquote class="twitter-tweet">During my Independence Day Speech, I had spoken about our intention to bring the Next-Generation reforms in GST. The Union Government had prepared a detailed proposal for broad-based GST rate rationalisation and process reforms, aimed at ease of living for the common man and…&mdash; Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/1963285580940546131?ref_src=twsrc%5Etfw">September 3, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>Items in the 5 per cent slab</h2>Everyday household goods like toothpaste, soap, shampoo, hair oil, detergent, dishwashing liquid, clothing and footwear up to Rs 2,500 per item were included in the 5 per cent slab. Items related to the lifestyle and utility items such as bicycles, kitchenware, tableware (steel, plastic), dairy-related items such as butter, ghee, packaged milk, packed staples such as Namkin, Bhujia, and mixtures were also given the relief. Nirmala Sitharaman also lowered healthcare-related items such as thermometers, medical-grade oxygen, all diagnostic kits, test strips, glucometers from 18 and 12 per cent to 5 per cent. Among services, gyms, fitness centres, beauty parlours, salons and barber shops were included in the 5 per cent segment. &nbsp;&nbsp;<h2>Impact of the relief</h2>The relief was a long-standing demand from the consumer and industry, particularly the MSME sector. Affordable insurance, lower household expenses will allow the middle-class with extra money, likely to return to the market via discretionary and luxury spending. However, the cut is not just festive demand, but also a strategic step to act as a buffer against the US tariffs. The states were also worried about revenue loss, but the centre assured that the compensation through luxury and sin items like cigarettes and tobacco products as well as luxury cars, private jets, yachts, will balance the revenue shortfall. MSME, FMCG and Retailers are welcoming the move. But experts believe, eventhough this will help boost consumption, but will reduce overall revenue.&nbsp;

India's GST Council has announced wholesale changes to the Goods and Services Tax in the daily purchase segment in an attempt to boost consumption for the middle-class prior to the festive season.

The GST Council has announced big cuts in the daily purchase segment to provide relief to the middle class, to revive consumption prior to the upcoming festive season, to cushion the impact of US tariffs. Prime Minister Narendra Modi on Wednesday hailed the reforms of the GST Council saying they would improve the lives of all and ensure the ease of doing business for all. The major move hailed by many is moving the packaged staples, personal care items and household and kitchen goods from the 18 per cent and 12 per cent slabs to the 5 per cent slab. GST on all individual health and life insurance policies were exempted.

India's GST Council has announced wholesale changes to the Goods and Services Tax in the daily purchase segment in an attempt to boost consumption for the middle-class prior to the festive season.

GST rate cuts on common goods: Relief for middle class, push for festive demand

The GST Council on Wednesday approved a two-tier rate structure of 5% and 18 %, giving relief from previous complex tax structures, scrapping the 12% and 28% brackets and leaving just three brackets, including, 5%, 18% and 40%. The decision was taken following a long day of the GST Council meeting held in Delhi, which is set to be implemented from September 22.&nbsp;In response to the new regime, the Union Finance Minister Nirmala Sitharaman stated that every decision was taken unanimously, with no disagreement from any state. "We've reduced the slabs. There shall be only two slabs, and we are also addressing the issues of compensation cess," Finance Minister Nirmala Sitharaman announced.&nbsp;“These reforms have been carried out with a focus on the common man. Every tax on the common man's daily use items has gone through a rigorous review, and in most cases, the rates have come down drastically,” she added.<h3>GST new rates 2025: Items included under 18%</h3><ul><li>Two-wheelers (bikes/scooty ≤350cc)</li><li>Small cars (≤1200cc petrol / ≤1500cc diesel; ≤4m)</li><li>Three-wheelers (autos)</li><li>Passenger vehicles (10+ seats)</li><li>Engine parts, igniGon, pumps (vehicle)</li><li>Bicycles &amp; bicycle parts</li><li>Auto Components</li><li>Home Building &amp; Materials</li><li>Cement</li><li>Marble/TraverGne blocks, Granite blocks, Sand-lime bricks</li><li>ParGcle boards from agri-waste (bagasse, rice husk, jute, sisal etc.)</li><li>Bamboo flooring / joinery</li><li>Packing cases &amp; pallets (wood)</li><li>Consumer Electronics &amp; Appliances</li><li>Television sets (LCD/LED) (&gt; 32’)</li><li>Monitors &amp; Projectors (non-TV</li><li>Air-condiGoners</li><li>Dishwashers</li><li>Solar water heater &amp; systems, Solar cookers</li><li>Toys, Sports &amp; Handicrafts</li><li>Toys like tricycles, scooters, pedal cars etc. (including parts and accessories thereof) [other than electronic toys]</li><li>Wooden/metal/texGle dolls &amp; toys (Channapatna, Thanjavur, Sawantwadi etc.)</li><li>Board games (Ludo/Carrom/Chess/Playing cards)</li><li>Sports goods other than arGcles and equipment for general physical exercise</li><li>Handicraf idols &amp; statues (wood/stone/metal) and lamps (incl. panchloga)</li><li>Brass/Copper/Aluminium artware</li><li>PainGngs, sculptures</li></ul>Also read: <a href="https://www.wionews.com/india-news/india-s-new-40-gst-hits-luxury-and-sin-goods-what-counts-as-a-sin-good-and-is-alcohol-included-full-list-inside-1756970509232">India’s new 40% GST hits luxury and sin goods: What counts as a sin good, and is alcohol included? | Full list inside</a>

After a daylong meeting in Delhi on Wednesday, the GST Council approved a two-tier tax rate structure of 5% and 18% scrapping the 12% and 28% brackets. The move leaves three brackets, including, 5%, 18% and 40.

The GST Council on Wednesday approved a two-tier rate structure of 5% and 18 %, giving relief from previous complex tax structures, scrapping the 12% and 28% brackets and leaving just three brackets, including, 5%, 18% and 40%. The decision was taken following a long day of the GST Council meeting held in Delhi, which is set to be implemented from September 22. In response to the new regime, the Union Finance Minister Nirmala Sitharaman stated that every decision was taken unanimously, with no disagreement from any state. "We've reduced the slabs. There shall be only two slabs, and we are also addressing the issues of compensation cess," Finance Minister Nirmala Sitharaman announced. “These reforms have been carried out with a focus on the common man. Every tax on the common man's daily use items has gone through a rigorous review, and in most cases, the rates have come down drastically,” she added. GST new rates 2025: Items included under 18% Two-wheelers (bikes/scooty ≤350cc) Small cars (≤1200cc petrol / ≤1500cc diesel; ≤4m) Three-wheelers (autos) Passenger vehicles (10+ seats) Engine parts, igniGon, pumps (vehicle) Bicycles & bicycle parts Auto Components Home Building & Materials Cement Marble/TraverGne blocks, Granite blocks, Sand-lime bricks ParGcle boards from agri-waste (bagasse, rice husk, jute, sisal etc.) Bamboo flooring / joinery Packing cases & pallets (wood) Consumer Electronics & Appliances Television sets (LCD/LED) (> 32’) Monitors & Projectors (non-TV Air-condiGoners Dishwashers Solar water heater & systems, Solar cookers Toys, Sports & Handicrafts Toys like tricycles, scooters, pedal cars etc. (including parts and accessories thereof) [other than electronic toys] Wooden/metal/texGle dolls & toys (Channapatna, Thanjavur, Sawantwadi etc.) Board games (Ludo/Carrom/Chess/Playing cards) Sports goods other than arGcles and equipment for general physical exercise Handicraf idols & statues (wood/stone/metal) and lamps (incl. panchloga) Brass/Copper/Aluminium artware PainGngs, sculptures Also read: India’s new 40% GST hits luxury and sin goods: What counts as a sin good, and is alcohol included? | Full list inside

After a daylong meeting in Delhi on Wednesday, the GST Council approved a two-tier tax rate structure of 5% and 18% scrapping the 12% and 28% brackets. The move leaves three brackets, including, 5%, 18% and 40.

GST simplified: 18% rate applies to these products under new reforms — Check the surprises for you

If you find solace in travelling, the recent change in GST may concern you. For those who don’t get excited by the thought of travel, you may still have to indulge for work. So, this may still concern you. With that, we are looking at &nbsp;how your accommodation may be affected once the changes are implemented. On Wednesday (September 3), Finance Minister Nirmala Sitharaman, in a briefing, mentioned big reforms that will change the tax slabs. This comes a fortnight after PM Narendra Modi assured the nation from the ramparts of the Red Fort, on Independence Day, of a big Diwali bonanza with regard to GST. All the changes will be implemented September 22 onwards.&nbsp;<a href="https://www.wionews.com/videos/gst-reform-government-unveils-next-generation-changes-daily-essentials-get-cheaper-1756970775178/embed">https://www.wionews.com/videos/gst-reform-government-unveils-next-generation-changes-daily-essentials-get-cheaper-1756970775178/embed</a>&nbsp;<h2>&nbsp;</h2><h2>How will air tickets be impacted?</h2>&nbsp;The GST Council’s decision on air travel will not affect economy class flight tickets as taxes are maintained at 5%. It remains the same, so be assured nothing is burning a hole in your pocket or pushing your vacation budget off the cliff. But if you are looking at an upgrade, i.e. the business class then there is an extra 6% GST, which will increase the existing 12% GST to 18%.&nbsp;&nbsp;It means that business class air tickets are likely to become expensive, and you may see an increase in prices.&nbsp;&nbsp;<h2>Breakdown:</h2>AirfareEconomy class ticket – 5% GST (unchanged) Business class ticket – 18% GST&nbsp;<h2>Will the cost of hotel accommodation be impacted?</h2>&nbsp;One of the most important decisions to be made while planning a vacation is the billion-dollar question: where are we staying? Though location and itinerary win here, as it takes the apex position in the scheme of things. Despite being second in line, stay makes or breaks a plan. Let’s see what changes have been made on this front.&nbsp;An accommodation which costs lesser than INR 1,000 will have no taxes levied. Any stay that costs between INR 1,001 and INR 7,500 will attract a 5% GST without ITC (Input Tax Credit), which was earlier at 12% GST with ITC. A room tariff over INR 7,500 per night will have 18% GST added to the bill.&nbsp;The GST release says, “Reduction of GST from 12% to 5% on ‘hotel accommodation’ services having value less than or equal to Rs. 7,500 per unit per day or equivalent.”&nbsp;Also read: <a href="https://www.wionews.com/india-news/india-s-new-40-gst-hits-luxury-and-sin-goods-what-counts-as-a-sin-good-and-is-alcohol-included-full-list-inside-1756970509232">India’s new 40% GST hits luxury and sin goods: What counts as a sin good, and is alcohol included? | Full list inside</a><h2>Breakdown:</h2>&nbsp;Room tariff per night&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Up to INR 1,000 &nbsp;- No GSTINR 1,001 – INR 7,500 - 5% GST (without ITC)Above INR 7,500 -18% GST (unchanged)&nbsp;The crux: According to the details released by the GST Council, premium services and goods will attract a &nbsp;higher GST, which is otherwise relaxed for other components mentioned in the list.&nbsp;&nbsp;

The new GST slab to be implemented from September 22 has a list of changes and relaxations. Here's how it will impact air travel and hotel bills.

If you find solace in travelling, the recent change in GST may concern you. For those who don’t get excited by the thought of travel, you may still have to indulge for work. So, this may still concern you. With that, we are looking at how your accommodation may be affected once the changes are implemented. On Wednesday (September 3), Finance Minister Nirmala Sitharaman, in a briefing, mentioned big reforms that will change the tax slabs. This comes a fortnight after PM Narendra Modi assured the nation from the ramparts of the Red Fort, on Independence Day, of a big Diwali bonanza with regard to GST. All the changes will be implemented September 22 onwards. https://www.wionews.com/videos/gst-reform-government-unveils-next-generation-changes-daily-essentials-get-cheaper-1756970775178/embed How will air tickets be impacted? The GST Council’s decision on air travel will not affect economy class flight tickets as taxes are maintained at 5%. It remains the same, so be assured nothing is burning a hole in your pocket or pushing your vacation budget off the cliff. But if you are looking at an upgrade, i.e. the business class then there is an extra 6% GST, which will increase the existing 12% GST to 18%. It means that business class air tickets are likely to become expensive, and you may see an increase in prices. Breakdown: Airfare Economy class ticket – 5% GST (unchanged) Business class ticket – 18% GST Will the cost of hotel accommodation be impacted? One of the most important decisions to be made while planning a vacation is the billion-dollar question: where are we staying? Though location and itinerary win here, as it takes the apex position in the scheme of things. Despite being second in line, stay makes or breaks a plan. Let’s see what changes have been made on this front. An accommodation which costs lesser than INR 1,000 will have no taxes levied. Any stay that costs between INR 1,001 and INR 7,500 will attract a 5% GST without ITC (Input Tax Credit), which was earlier at 12% GST with ITC. A room tariff over INR 7,500 per night will have 18% GST added to the bill. The GST release says, “Reduction of GST from 12% to 5% on ‘hotel accommodation’ services having value less than or equal to Rs. 7,500 per unit per day or equivalent.” Also read: India’s new 40% GST hits luxury and sin goods: What counts as a sin good, and is alcohol included? | Full list inside Breakdown: Room tariff per night Up to INR 1,000 - No GST INR 1,001 – INR 7,500 - 5% GST (without ITC) Above INR 7,500 -18% GST (unchanged) The crux: According to the details released by the GST Council, premium services and goods will attract a higher GST, which is otherwise relaxed for other components mentioned in the list.

The new GST slab to be implemented from September 22 has a list of changes and relaxations. Here's how it will impact air travel and hotel bills.

Flight tickets to hotel stay: Both cheaper and expensive. Here's what has changed in new GST slab

The Goods and Services Tax (GST) Council on Wednesday eliminated the 12 per cent and 28 per cent slabs, moving from a four-slab to a two-slab taxation structure. Most of the goods and services in these two slabs will be moved to the 5 per cent and 18 per cent GST slabs. Announcing the mega move, Finance Minister Nirmala Sitharaman described the decision as a "structural reform". The government has also passed on the benefits of the GST reforms to the agricultural sector, the country's economic backbone.&nbsp;The Centre has moved several daily-use products like soap, toothpaste, namkeen, chocolates, and coffee to the 5 per cent slab from 12 per cent or 18 per cent slabs. In a mega move, tractors and compositing machines will now attract a GST of 5 per cent from the previous 12 per cent tax.&nbsp;<a href="https://www.wionews.com/business-economy/did-tariff-turmoil-prompt-centre-s-mega-gst-reform-nirmala-sitharaman-s-clarification-1756929197130">Also read: Did 'tariff turmoil' prompt Centre's mega GST reform? Nirmala Sitharaman's clarification</a>&nbsp;<h2>How Centre's new rates affect the farm sector</h2>Diesel&nbsp;engines up to 15 horsepower, hand pumps, drip irrigation systems and sprayers, harvesting and threshing machines, poultry-keeping or bee-keeping machines, composting machines, tractors, etc, have been moved from the 12 per cent slab to the 5 per cent slab.&nbsp;Tractor tyres, tubes, agricultural diesel engines (above 250cc), hydraulic pumps for tractors, key tractor parts, wheel rims, centre housing, etc, will now attract a GST of 5 per cent from 18 per cent.&nbsp;GST on fertilisers like sulphuric acid, nitric acid and ammonia will be lowered from 18 per cent to 5 per cent.&nbsp;Gibberellic acid, bio-pesticides will attract a GST of 5 per cent from 12 per cent.<h2>GST rates on cars reduced</h2>The Centre has also reduced GST on cars.&nbsp;Industry body SIAM hailed the decision to reduce GST on vehicles to 18 per cent and 40 per cent, from earlier rates of 28 to 31 per cent and 43 to 50 per cent.&nbsp;Anish Shah, Group CEO &amp; MD, Mahindra Group, welcomed the decision and said, "The next-generation GST reforms announced today mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system. By moving to a streamlined two-rate structure and focusing on essentials that touch the lives of every citizen, the Government has reaffirmed its commitment to Ease of Living and Ease of Doing Business. These measures will not only provide immediate relief to households but also strengthen key sectors such as automobiles, agriculture, healthcare, renewable energy, and MSMEs."

The Goods and Services Tax (GST) Council on Wednesday eliminated the 12 per cent and 28 per cent slabs, moving from a four-slab to a two-slab taxation structure. 

The Goods and Services Tax (GST) Council on Wednesday eliminated the 12 per cent and 28 per cent slabs, moving from a four-slab to a two-slab taxation structure. Most of the goods and services in these two slabs will be moved to the 5 per cent and 18 per cent GST slabs. Announcing the mega move, Finance Minister Nirmala Sitharaman described the decision as a "structural reform". The government has also passed on the benefits of the GST reforms to the agricultural sector, the country's economic backbone. The Centre has moved several daily-use products like soap, toothpaste, namkeen, chocolates, and coffee to the 5 per cent slab from 12 per cent or 18 per cent slabs. In a mega move, tractors and compositing machines will now attract a GST of 5 per cent from the previous 12 per cent tax. Also read: Did 'tariff turmoil' prompt Centre's mega GST reform? Nirmala Sitharaman's clarification How Centre's new rates affect the farm sector Diesel engines up to 15 horsepower, hand pumps, drip irrigation systems and sprayers, harvesting and threshing machines, poultry-keeping or bee-keeping machines, composting machines, tractors, etc, have been moved from the 12 per cent slab to the 5 per cent slab. Tractor tyres, tubes, agricultural diesel engines (above 250cc), hydraulic pumps for tractors, key tractor parts, wheel rims, centre housing, etc, will now attract a GST of 5 per cent from 18 per cent. GST on fertilisers like sulphuric acid, nitric acid and ammonia will be lowered from 18 per cent to 5 per cent. Gibberellic acid, bio-pesticides will attract a GST of 5 per cent from 12 per cent. GST rates on cars reduced The Centre has also reduced GST on cars. Industry body SIAM hailed the decision to reduce GST on vehicles to 18 per cent and 40 per cent, from earlier rates of 28 to 31 per cent and 43 to 50 per cent. Anish Shah, Group CEO & MD, Mahindra Group, welcomed the decision and said, "The next-generation GST reforms announced today mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system. By moving to a streamlined two-rate structure and focusing on essentials that touch the lives of every citizen, the Government has reaffirmed its commitment to Ease of Living and Ease of Doing Business. These measures will not only provide immediate relief to households but also strengthen key sectors such as automobiles, agriculture, healthcare, renewable energy, and MSMEs."

New GST rates in India: Tractors and compositing machines will now attract a GST of 5 per cent from the previous 12 per cent tax.

New GST Rates 2025: Tractors, fertilisers, equipment - Centre extends tax bounty for farmers

The US economy could be staring at a recession by the end of 2025 despite some numbers still looking good, according to UBS, the global investment bank. There is a 93% chance of US going into a recession based on “hard data” from May to July 2025. The situation has, however, been told to be “stable but elevated” in terms of the risk.&nbsp;'Historically worrying levels”, is how the UBS described the current situation of the US economy. It pointed towards the inverted yield curve, which shows stress in bond markets. Currently at 23 per cent, it seems steady but increasingly higher than 2025. Another reason for the prediction is the stress in credit markets that puts the probability of recession due to credit metrics at 41 per cent.&nbsp;UBS further said that the economy is soggy but not collapsing. It pointed out that the US economy recovered at the end of 2024 but slipped again in February 2025 and has remained stagnant since then, not declining sharply.&nbsp;Also Read: <a href="https://www.wionews.com/world/google-fined-381-mn-for-predetatory-gmail-advertising-but-it-s-like-toll-tax-for-alphabet-less-than-0-25-pc-of-its-global-revenue-google-monopoly-1756964314254">Google fined $381 mn for predatory Gmail advertising, but it's like toll tax for Alphabet, less than 0.25 pc of its global revenue</a>&nbsp;Despite its track record of identifying recession in the past, the global investment bank has not officially predicted a recession as according to them economic indicators, like jobs or production, are not collapsing below trend, which is a sign of economic collapse.&nbsp;So, according to UBS, the U.S. economy is stuck in slow growth or mild contraction, not a sudden crash. Rather, the the global investment bank expects 2025 to observe “soggy growth”, improving only marginally in 2026. The bank took everything into account like hard data, yield curve, and credit stress before getting to the conclusion of a 52% overall recession probability in July, up from 37% in January. Historically this is an indicator of recession.&nbsp;

The global investment bank pointed out that the US economy recovered at the end of 2024 but slipped again in February 2025 and has remained stagnant

The US economy could be staring at a recession by the end of 2025 despite some numbers still looking good, according to UBS, the global investment bank. There is a 93% chance of US going into a recession based on “hard data” from May to July 2025. The situation has, however, been told to be “stable but elevated” in terms of the risk. 'Historically worrying levels”, is how the UBS described the current situation of the US economy. It pointed towards the inverted yield curve, which shows stress in bond markets. Currently at 23 per cent, it seems steady but increasingly higher than 2025. Another reason for the prediction is the stress in credit markets that puts the probability of recession due to credit metrics at 41 per cent. UBS further said that the economy is soggy but not collapsing. It pointed out that the US economy recovered at the end of 2024 but slipped again in February 2025 and has remained stagnant since then, not declining sharply. Also Read: Google fined $381 mn for predatory Gmail advertising, but it's like toll tax for Alphabet, less than 0.25 pc of its global revenue Despite its track record of identifying recession in the past, the global investment bank has not officially predicted a recession as according to them economic indicators, like jobs or production, are not collapsing below trend, which is a sign of economic collapse. So, according to UBS, the U.S. economy is stuck in slow growth or mild contraction, not a sudden crash. Rather, the the global investment bank expects 2025 to observe “soggy growth”, improving only marginally in 2026. The bank took everything into account like hard data, yield curve, and credit stress before getting to the conclusion of a 52% overall recession probability in July, up from 37% in January. Historically this is an indicator of recession.

The global investment bank pointed out that the US economy recovered at the end of 2024 but slipped again in February 2025 and has remained stagnant

US economy staring at recession? Global investment bank puts risk at 93%. Here's why

India’s indirect tax system is set for a major overhaul on 22 September, when a new 40% GST slab comes into effect. This move simplifies the current structure, scrapping the 12% and 28% brackets and leaving just three brackets, including, 5%, 18% and 40%. The new highest slab is aimed at luxury and sin goods, items considered harmful to health or non-essential for daily life. These include high-end vehicles, sugary drinks and tobacco products.<h2>What are sin goods?</h2>Sin goods are items such as tobacco, alcohol, sugary drinks and luxury products. Governments impose higher “sin taxes” on them both to discourage excessive use and to raise extra revenue. These taxes are seen as tools to curb social and health costs, while also boosting the state’s coffers.Also read: <a href="https://www.wionews.com/photos/new-gst-rates-2025-what-s-cheaper-what-s-costlier-after-gst-revamp-check-full-list-here-1756965324834">New GST Rates 2025: What’s cheaper, what’s costlier after GST revamp? Check full list here</a><h2>Full list of products under 40% GST</h2>Here’s what will now fall into the top GST slab:1. Tobacco and Pan Masala (Sin Goods)• Pan masala• Gutka• Chewing tobacco• Unmanufactured tobacco and refuse (excluding leaves)• Cigarettes• Cigars, cheroots, cigarillos, and substitutes2. Aerated and Sugary Beverages• Carbonated drinks• Sugary cold drinks• Caffeinated fizzy beverages3. Luxury Cars• Petrol cars above 1200cc• Diesel cars above 1500cc4. High-End Motorcycles• Bikes above 350cc engine capacity5. Super-Luxury Marine and Aircraft• Yachts• Personal aircraft, including helicopters6. Other Sin or Luxury Items• Coal, lignite, peat• Online gambling and gaming servicesAlso read: <a href="https://www.wionews.com/india-news/what-is-new-gst-on-motorcycles-acs-and-tvs-to-when-will-the-changes-come-into-force-all-faqs-answered-1756922844621">What is GST on ACs, TVs to when will changes come into force: All FAQs answered</a><h2>What about alcohol?</h2>Alcohol has always been kept outside the GST framework. Instead, it continues to be taxed separately by states through excise duties, VAT and surcharges. This is deliberate for two reasons:1. Revenue for states: Liquor duties bring in 15%–25% of state tax income, funding welfare and development schemes.2. Price control: Keeping alcohol out of GST allows states to keep prices high, discouraging excessive drinking.Tax experts warn that if alcohol were brought into GST, states would lose a key and dependable revenue stream. Since GST began in 2017, the Council has avoided touching this issue, knowing it would face strong political resistance.While alcohol itself is outside GST, many services linked to it are taxed. Bottling, packaging, transport, advertising and equipment purchases all attract GST, creating a dual system where the product is state-taxed but the value chain falls under GST.

India will overhaul its GST system on 22 September, introducing a new 40% slab for luxury and sin goods, while scrapping 12% and 28% rates to simplify the tax structure.

India’s indirect tax system is set for a major overhaul on 22 September, when a new 40% GST slab comes into effect. This move simplifies the current structure, scrapping the 12% and 28% brackets and leaving just three brackets, including, 5%, 18% and 40%. The new highest slab is aimed at luxury and sin goods, items considered harmful to health or non-essential for daily life. These include high-end vehicles, sugary drinks and tobacco products. What are sin goods? Sin goods are items such as tobacco, alcohol, sugary drinks and luxury products. Governments impose higher “sin taxes” on them both to discourage excessive use and to raise extra revenue. These taxes are seen as tools to curb social and health costs, while also boosting the state’s coffers. Also read: New GST Rates 2025: What’s cheaper, what’s costlier after GST revamp? Check full list here Full list of products under 40% GST Here’s what will now fall into the top GST slab: 1. Tobacco and Pan Masala (Sin Goods) • Pan masala • Gutka • Chewing tobacco • Unmanufactured tobacco and refuse (excluding leaves) • Cigarettes • Cigars, cheroots, cigarillos, and substitutes 2. Aerated and Sugary Beverages • Carbonated drinks • Sugary cold drinks • Caffeinated fizzy beverages 3. Luxury Cars • Petrol cars above 1200cc • Diesel cars above 1500cc 4. High-End Motorcycles • Bikes above 350cc engine capacity 5. Super-Luxury Marine and Aircraft • Yachts • Personal aircraft, including helicopters 6. Other Sin or Luxury Items • Coal, lignite, peat • Online gambling and gaming services Also read: What is GST on ACs, TVs to when will changes come into force: All FAQs answered What about alcohol? Alcohol has always been kept outside the GST framework. Instead, it continues to be taxed separately by states through excise duties, VAT and surcharges. This is deliberate for two reasons: 1. Revenue for states: Liquor duties bring in 15%–25% of state tax income, funding welfare and development schemes. 2. Price control: Keeping alcohol out of GST allows states to keep prices high, discouraging excessive drinking. Tax experts warn that if alcohol were brought into GST, states would lose a key and dependable revenue stream. Since GST began in 2017, the Council has avoided touching this issue, knowing it would face strong political resistance. While alcohol itself is outside GST, many services linked to it are taxed. Bottling, packaging, transport, advertising and equipment purchases all attract GST, creating a dual system where the product is state-taxed but the value chain falls under GST.

India will overhaul its GST system on 22 September, introducing a new 40% slab for luxury and sin goods, while scrapping 12% and 28% rates to simplify the tax structure.

India’s new 40% GST hits luxury and sin goods: What counts as a sin good, and is alcohol included? | Full list inside

The Goods and Services Tax (GST) Council, during its 56th meeting that stretched for more than 10 hours on Wednesday, approved a new wave of reforms in the eight-year-old indirect tax regime. Let's have a look at the GST new rates 2025 along with the 18 per cent GST items list.

The Goods and Services Tax (GST) Council, during its 56th meeting that stretched for more than 10 hours on Wednesday, approved a new wave of reforms in the eight-year-old indirect tax regime. Let's have a look at the GST new rates 2025 along with the 18 per cent GST items list.

New GST Rates 2025: What’s cheaper, what’s costlier after GST revamp? Check full list here

India's stock markets surged following Finance Minister Nirmala Sitharaman's GST rationalisation announcement, with Sensex rising 439.22 points to 81,006.93, and the Nifty rising 131.95 points to 24,847.00 at 11 am. Here's a look at which shares rose after the GST announcement.<h2>How the Indian stock markets reacted to GST announcements</h2>Even though Nirmala Sitharaman announced that cigarettes&nbsp;and other tobacco products would be placed under the 40 per cent GST slab, their stocks surged. At 10 a.m., ITC, VST Industries, and Godfrey Phillips India shares had gained between 1-4 per cent, reported Money Control. This is because if tobacco products are taxed at a flat 40 per cent rate without any cess, these items' real taxes would be lower than earlier.&nbsp;Cement stocks also showed a strong gain because the GST on the essential commodity was lowered from 28 per cent to 18 per cent. The shares of Ultratech Cement, Ambuja Cements, ACC, and Shree Cement rose around 2-3 per cent.&nbsp;The new GST rates apply to all kinds of cement.&nbsp;Shares of HDFC Life, SBI Life, Life Insurance Corporation of India (LIC), ICICI Prudential Life, New India Assurance, ICICI Lombard, and Star Health also surged 2-3 per cent as Sitharaman announced the GST Council's decision to cut GST on health and life insurance premiums from 18 per cent to nil.&nbsp;The share prices of India's automakers also increased as the GST Council slashed GST on small cars from 28 per cent to 18 per cent.&nbsp;The ex-showroom prices of the cars are expected to go down by 5-7 per cent.&nbsp;Mahindra &amp; Mahindra (M&amp;M)'s shares gained nearly 7 percent to trade, while Eicher Motors, Tata Motors, and Maruti Suzuki shares rose more than 2 percent each. TVS Motors, Hero MotoCorp shares were&nbsp;up by 1 per cent.&nbsp;Escorts Kubota's shares rallied nearly 9 per cent during early trade because GST on tractors was reduced to 5 per cent.&nbsp;The central government has decided to slash the 12 per cent and 28 per cent GST slabs. Most of the goods and services in these slabs will be moved to the 5 per cent and 18 per cent slabs.&nbsp;The government has also introduced a 40 per cent sin tax slab.

India's stock markets surged following Finance Minister Nirmala Sitharaman's GST rationalisation announcement, with Sensex rising 439.22 points to 81,006.93, and the Nifty rising 131.95 points to 24,847.00 at 11 am.

India's stock markets surged following Finance Minister Nirmala Sitharaman's GST rationalisation announcement, with Sensex rising 439.22 points to 81,006.93, and the Nifty rising 131.95 points to 24,847.00 at 11 am. Here's a look at which shares rose after the GST announcement. How the Indian stock markets reacted to GST announcements Even though Nirmala Sitharaman announced that cigarettes and other tobacco products would be placed under the 40 per cent GST slab, their stocks surged. At 10 a.m., ITC, VST Industries, and Godfrey Phillips India shares had gained between 1-4 per cent, reported Money Control. This is because if tobacco products are taxed at a flat 40 per cent rate without any cess, these items' real taxes would be lower than earlier. Cement stocks also showed a strong gain because the GST on the essential commodity was lowered from 28 per cent to 18 per cent. The shares of Ultratech Cement, Ambuja Cements, ACC, and Shree Cement rose around 2-3 per cent. The new GST rates apply to all kinds of cement. Shares of HDFC Life, SBI Life, Life Insurance Corporation of India (LIC), ICICI Prudential Life, New India Assurance, ICICI Lombard, and Star Health also surged 2-3 per cent as Sitharaman announced the GST Council's decision to cut GST on health and life insurance premiums from 18 per cent to nil. The share prices of India's automakers also increased as the GST Council slashed GST on small cars from 28 per cent to 18 per cent. The ex-showroom prices of the cars are expected to go down by 5-7 per cent. Mahindra & Mahindra (M&M)'s shares gained nearly 7 percent to trade, while Eicher Motors, Tata Motors, and Maruti Suzuki shares rose more than 2 percent each. TVS Motors, Hero MotoCorp shares were up by 1 per cent. Escorts Kubota's shares rallied nearly 9 per cent during early trade because GST on tractors was reduced to 5 per cent. The central government has decided to slash the 12 per cent and 28 per cent GST slabs. Most of the goods and services in these slabs will be moved to the 5 per cent and 18 per cent slabs. The government has also introduced a 40 per cent sin tax slab.

Goods and Services Tax (GST) rates slashed: Shares of HDFC Life, SBI Life, Life Insurance Corporation of India (LIC), ICICI Prudential Life, ITC, VST Industries, and Godfrey Phillips increased.

GST revision: Tobacco, auto, cement stocks surge on share markets

France’s data protection authority, the Commission Nationale de l’Informatique et des Libertés (CNIL), has fined Google €325 million (around $381 million) for displaying ads to Gmail users without their consent, and placing ad-tracking cookies without proper user opt-in. This is a violation of privacy laws. But the fines are nothing more than a rap on the wrist for Google, whose revenue from the European Union area is so high that it could be compared to the cost of buying pizza or toll tax for an average company. Here is why.<h2>What did French watchdog say about Gmail privacy issue?</h2>CNIL found that Gmail users were shown ads directly within their inboxes, violating EU's ePrivacy Directive and the General Data Protection Regulation (GDPR). The authority also slammed Google’s practice of pre-setting cookie preferences during the account creation process, effectively bypassing user choice, opt-in or opt-out.Google has been asked to make changes within six months in the CNIL order of Wednesday (Se 3). It must stop displaying ads in Gmail inboxes without prior user consent, and ensure that anyone making a new Google account shoule be explicity asked to agree to ad tracking before any data is collected or used for commercial targeting.Meta plans fourth AI restructure in six months<a href="https://www.wionews.com/trending/google-sold-when-an-indian-man-bought-googlecom-at-12-owned-it-for-seconds-heres-what-happened-next-8963894">Also read: Google SOLD! When an Indian man bought Google.com at $12, owned it for seconds, here's what happened next</a><h2>French watchdog has fined Google in past too</h2>This is not the first time CNIL took action against Google. It was fined €100 million in 2020 and €150 million in 2022, both for cookie consent violations. The issue was the lack of easily accessible option to refuse tracking cookies.But these penalties are dwarfed by how much Google makes in the European market.<a href="https://www.wionews.com/business-economy/meta-plans-fourth-ai-restructure-in-six-months-1755332560718">Also read: Meta plans fourth AI restructure in six months</a><h2>Why the fines are just cost of doing business for Google</h2>The fines, including the ‘record’ one slapped on Wednesday, are nothing more than the cost of doing business for Alphabet Inc., Google's parent company. It reported global (meaning non-US) revenue of $90.2 billion in the first quarter of 2025 alone, with net income reaching $34.5 billion. So the math of Wednesday fine of €325 million is: less than 0.25 percent of Alphabet’s quarterly global revenue.In other words, this amount is so small relative to its earnings that it barely registers as a material financial cost.<a href="https://www.wionews.com/india-news/from-april-1-indian-govt-can-see-your-whatsapp-messages-emails-what-you-need-to-know-8898193">Also read: From April 1, Indian govt can see your WhatsApp messages, emails. Here's what you need to know</a><h2>Fines are miniscule compared to Google's overall annual revenue from France and Europe&nbsp;</h2>In fact, if we examining Alphabet’s operations in France and the EU, the fines are even smaller, as France could be contributing up to €2 billion in annual revenue for Google mainly from digital advertising. But Alphabet’s profit-shifting practices and reliance on Ireland for European tax filings make exact figures opaque.At the European Union level, Alphabet likely earns €75–95 billion in annual revenue, with estimated profits of €19–24 billion. In that context, even a combined €450 million in fines levied by France between 2019 and 2024 represents less than 0.6 per cent of one year’s European revenue and no more than 2.4 per cent of annual profit.<a href="https://www.wionews.com/business-economy/google-says-eu-digital-rules-stifle-innovation-demands-clarity-1751361150657">Also read: Google says EU digital rules stifle innovation, demands clarity</a><h2>For Google, the fines are a nuisance, not a deterrent</h2>Regulators across the world have been criticised for imposing small penalties on Google, akin to toll taxes for a truck company. These are annoying roadblocks, but can easily be absorbed into the cost of doing business at scale. It should be noted that the maximum fine permitted under GDPR is 4 per cent of a company’s global annual turnover. In Alphabet’s case, that could be €10 billion, at least in theory, based on recent revenue levels.Yet, CNIL has never approached that upper limit when fining the tech giant.<a href="https://www.wionews.com/trending/-i-have-failed-you-google-s-gemini-ai-deletes-user-s-files-later-apologises-for-catastrophic-error-1753706018911">Also read: 'I have failed you': Google’s Gemini AI deletes user's files, later apologises for ‘Catastrophic’ error</a><h2>French fine will not change the predatory advertising practices of Google</h2>Alphabet is complying with CNIL's rulings. It might adjust its Gmail and cookie practices. But its basic business model of monetising user data through personalised advertising is not going to change. The fines are not large enough to alter financial incentives for Google. Till that happens, even if the fines make headlines, they will change nothing for Alphabet.

France fined Google €325 million for pushing ads on Gmail without user consent, but the penalty amounts to just 0.25% of Alphabet’s quarterly revenue. Google's massive profits make these costs negligible. That's the cost of doing business

France’s data protection authority, the Commission Nationale de l’Informatique et des Libertés (CNIL), has fined Google €325 million (around $381 million) for displaying ads to Gmail users without their consent, and placing ad-tracking cookies without proper user opt-in. This is a violation of privacy laws. But the fines are nothing more than a rap on the wrist for Google, whose revenue from the European Union area is so high that it could be compared to the cost of buying pizza or toll tax for an average company. Here is why. What did French watchdog say about Gmail privacy issue? CNIL found that Gmail users were shown ads directly within their inboxes, violating EU's ePrivacy Directive and the General Data Protection Regulation (GDPR). The authority also slammed Google’s practice of pre-setting cookie preferences during the account creation process, effectively bypassing user choice, opt-in or opt-out. Google has been asked to make changes within six months in the CNIL order of Wednesday (Se 3). It must stop displaying ads in Gmail inboxes without prior user consent, and ensure that anyone making a new Google account shoule be explicity asked to agree to ad tracking before any data is collected or used for commercial targeting. Meta plans fourth AI restructure in six months Also read: Google SOLD! When an Indian man bought Google.com at $12, owned it for seconds, here's what happened next French watchdog has fined Google in past too This is not the first time CNIL took action against Google. It was fined €100 million in 2020 and €150 million in 2022, both for cookie consent violations. The issue was the lack of easily accessible option to refuse tracking cookies. But these penalties are dwarfed by how much Google makes in the European market. Also read: Meta plans fourth AI restructure in six months Why the fines are just cost of doing business for Google The fines, including the ‘record’ one slapped on Wednesday, are nothing more than the cost of doing business for Alphabet Inc., Google's parent company. It reported global (meaning non-US) revenue of $90.2 billion in the first quarter of 2025 alone, with net income reaching $34.5 billion. So the math of Wednesday fine of €325 million is: less than 0.25 percent of Alphabet’s quarterly global revenue. In other words, this amount is so small relative to its earnings that it barely registers as a material financial cost. Also read: From April 1, Indian govt can see your WhatsApp messages, emails. Here's what you need to know Fines are miniscule compared to Google's overall annual revenue from France and Europe In fact, if we examining Alphabet’s operations in France and the EU, the fines are even smaller, as France could be contributing up to €2 billion in annual revenue for Google mainly from digital advertising. But Alphabet’s profit-shifting practices and reliance on Ireland for European tax filings make exact figures opaque. At the European Union level, Alphabet likely earns €75–95 billion in annual revenue, with estimated profits of €19–24 billion. In that context, even a combined €450 million in fines levied by France between 2019 and 2024 represents less than 0.6 per cent of one year’s European revenue and no more than 2.4 per cent of annual profit. Also read: Google says EU digital rules stifle innovation, demands clarity For Google, the fines are a nuisance, not a deterrent Regulators across the world have been criticised for imposing small penalties on Google, akin to toll taxes for a truck company. These are annoying roadblocks, but can easily be absorbed into the cost of doing business at scale. It should be noted that the maximum fine permitted under GDPR is 4 per cent of a company’s global annual turnover. In Alphabet’s case, that could be €10 billion, at least in theory, based on recent revenue levels. Yet, CNIL has never approached that upper limit when fining the tech giant. Also read: 'I have failed you': Google’s Gemini AI deletes user's files, later apologises for ‘Catastrophic’ error French fine will not change the predatory advertising practices of Google Alphabet is complying with CNIL's rulings. It might adjust its Gmail and cookie practices. But its basic business model of monetising user data through personalised advertising is not going to change. The fines are not large enough to alter financial incentives for Google. Till that happens, even if the fines make headlines, they will change nothing for Alphabet.

France fined Google €325 million for pushing ads on Gmail without user consent, but the penalty amounts to just 0.25% of Alphabet’s quarterly revenue. Google's massive profits make these costs negligible. That's the cost of doing business

Google fined $381 mn for predatory Gmail advertising, but it's like toll tax for Alphabet, less than 0.25 pc of its global revenue

A former top executive&nbsp;of IndusInd Bank has alleged treasury-related irregularities running into Rs 2,600 crore. The huge whistle-blower disclosure started with a letter dated August 26, addressed to the Prime Minister's Office, in which the bank's former CFO, Gobind Jain, alleged that irregularities had been underway in the bank’s treasury operations for more than a decade.&nbsp;In the letter, Gobind Jain said he had been fighting a lone battle inside the bank as he tried to expose the irregularities. He said he faced resistance within the bank.&nbsp;Jain alleged that some senior officials of the bank, especially board chairman Sunil Mehta and his close associates, created a “climate of fear”. He alleged&nbsp;that when he raised irregularities in the running of the bank, he was targeted and the culprits&nbsp;were protected.&nbsp;Jain said the employees who supported him were sidelined.&nbsp;&nbsp;IndusInd Bank, one of the largest private lenders, rejected the allegations as "baseless and motivated" and said that it had disclosed accounting irregularities in derivatives, microfinance, and other revenue streams to the stock exchanges.&nbsp;It added that independent probes were carried out by external agencies, while fraud complaints were filed with the regulator, the Serious Fraud Investigation Office (SFIO), and the Mumbai unit of the Economic Offences Wing (EOW).&nbsp;The IndusInd Bank has appealed to the central government to reject Jain's complaint. It claimed that the bank's board had acted with integrity and transparency, adding that the complainant was attempting to obstruct ongoing probes.&nbsp;A spokesperson said that the details of irregularities in the derivatives portfolio and subsequent actions had been disclosed to the stock exchange.<h2>Rs 2,600 crore hit and market shock</h2>In March, the Hinduja group-promoted bank disclosed certain suspected frauds that caused a quarterly hit of about Rs 2,000 crore. The discrepancies&nbsp;included: Inflated income shown from microfinance loans; Misclassification of assets and liabilities; Writing off Rs 1,960 crore of fictitious profits from internal derivative trades.&nbsp;After the disclosure, they registered their biggest drop in stock value since 1997 as their shares plummeted 27 per cent the next trading session.&nbsp;Jain has urged the central government to remove the lender's chairman, Sunil Mehta, whom he accused of covering up accounting irregularities that duped investors of their hard-earned money.

In a letter, Gobind Jain, IndusInd Bank's former CFO, said he had been fighting a lone battle inside the bank as he tried to expose the irregularities.

A former top executive of IndusInd Bank has alleged treasury-related irregularities running into Rs 2,600 crore. The huge whistle-blower disclosure started with a letter dated August 26, addressed to the Prime Minister's Office, in which the bank's former CFO, Gobind Jain, alleged that irregularities had been underway in the bank’s treasury operations for more than a decade. In the letter, Gobind Jain said he had been fighting a lone battle inside the bank as he tried to expose the irregularities. He said he faced resistance within the bank. Jain alleged that some senior officials of the bank, especially board chairman Sunil Mehta and his close associates, created a “climate of fear”. He alleged that when he raised irregularities in the running of the bank, he was targeted and the culprits were protected. Jain said the employees who supported him were sidelined. IndusInd Bank, one of the largest private lenders, rejected the allegations as "baseless and motivated" and said that it had disclosed accounting irregularities in derivatives, microfinance, and other revenue streams to the stock exchanges. It added that independent probes were carried out by external agencies, while fraud complaints were filed with the regulator, the Serious Fraud Investigation Office (SFIO), and the Mumbai unit of the Economic Offences Wing (EOW). The IndusInd Bank has appealed to the central government to reject Jain's complaint. It claimed that the bank's board had acted with integrity and transparency, adding that the complainant was attempting to obstruct ongoing probes. A spokesperson said that the details of irregularities in the derivatives portfolio and subsequent actions had been disclosed to the stock exchange. Rs 2,600 crore hit and market shock In March, the Hinduja group-promoted bank disclosed certain suspected frauds that caused a quarterly hit of about Rs 2,000 crore. The discrepancies included: Inflated income shown from microfinance loans; Misclassification of assets and liabilities; Writing off Rs 1,960 crore of fictitious profits from internal derivative trades. After the disclosure, they registered their biggest drop in stock value since 1997 as their shares plummeted 27 per cent the next trading session. Jain has urged the central government to remove the lender's chairman, Sunil Mehta, whom he accused of covering up accounting irregularities that duped investors of their hard-earned money.

In a letter, Gobind Jain, IndusInd Bank's former CFO, said he had been fighting a lone battle inside the bank as he tried to expose the irregularities.&nbsp;

IndusInd Bank's former CFO flags irregularities, demands board chairman's removal

Union Finance Minister Nirmala Sitharaman on Wednesday night clarified&nbsp;that the Centre's Goods and Services Tax (GST) reform push wasn't linked to what she described as the “tariff turmoil”. The GST reform came weeks after Donald Trump imposed 50 per cent tariffs on Indian exports to the United States over New Delhi's oil and weapons trade with Russia.<h2>What Nirmala Sitharaman said</h2>Nirmala Sitharaman today announced the GST Council's decision to eliminate the 12 per cent and 28 per cent GST slabs. Most of the items in these two slabs will be put into the 5 per cent and 16 per cent slabs, she added.&nbsp;The Finance Minister further said that the "tariff turmoil" didn't influence the GST reform. She said the Group of Ministers had been working on rate rationalising for several months.&nbsp;"The tariff turmoil is not a matter that influenced the GST reform. Because we've been at it now for more than one and a half years. A group of ministers was working on rate rationalisation. Another group of ministers, a bit later, was working on insurance and related matters. And compensation cess was a reality – it is going to end the moment you pay back the loan. None of this has anything to do with the tariffs," she said at a press conference after the GST Council meeting.&nbsp;<a href="https://www.wionews.com/india-news/gst-reforms-approved-what-gets-cheaper-and-costlier-from-september-22-1756918983245">Also read: GST Reforms approved: What gets cheaper and costlier from September 22 - FULL LIST here</a><h2>Donald Trump continues his tirade</h2>Meanwhile, Donald Trump continued his tirade against India, saying secondary sanctions on India were a direct action against Russia.&nbsp;Donald Trump further mentioned that these steps amounted to direct action against Russia, as they target its oil exports through major buyers.&nbsp;"Would you say that putting secondary sanctions on India, the largest purchaser outside China, they are almost equal. Would you say there was no action? That cost hundreds of billions of dollars to Russia, you call that no action? I haven't done Phase-2 yet or Phase-3," Donald Trump told reporters.&nbsp;Earlier this month, Donald Trump said India had offered him a no-tariff deal.

Union Finance Minister Nirmala Sitharaman on Wednesday night clarified that the Centre's Goods and Services Tax (GST) reform push wasn't linked to what she described as the “tariff turmoil”. 

Union Finance Minister Nirmala Sitharaman on Wednesday night clarified that the Centre's Goods and Services Tax (GST) reform push wasn't linked to what she described as the “tariff turmoil”. The GST reform came weeks after Donald Trump imposed 50 per cent tariffs on Indian exports to the United States over New Delhi's oil and weapons trade with Russia. What Nirmala Sitharaman said Nirmala Sitharaman today announced the GST Council's decision to eliminate the 12 per cent and 28 per cent GST slabs. Most of the items in these two slabs will be put into the 5 per cent and 16 per cent slabs, she added. The Finance Minister further said that the "tariff turmoil" didn't influence the GST reform. She said the Group of Ministers had been working on rate rationalising for several months. "The tariff turmoil is not a matter that influenced the GST reform. Because we've been at it now for more than one and a half years. A group of ministers was working on rate rationalisation. Another group of ministers, a bit later, was working on insurance and related matters. And compensation cess was a reality – it is going to end the moment you pay back the loan. None of this has anything to do with the tariffs," she said at a press conference after the GST Council meeting. Also read: GST Reforms approved: What gets cheaper and costlier from September 22 - FULL LIST here Donald Trump continues his tirade Meanwhile, Donald Trump continued his tirade against India, saying secondary sanctions on India were a direct action against Russia. Donald Trump further mentioned that these steps amounted to direct action against Russia, as they target its oil exports through major buyers. "Would you say that putting secondary sanctions on India, the largest purchaser outside China, they are almost equal. Would you say there was no action? That cost hundreds of billions of dollars to Russia, you call that no action? I haven't done Phase-2 yet or Phase-3," Donald Trump told reporters. Earlier this month, Donald Trump said India had offered him a no-tariff deal.

GST reform: US President Donald Trump has imposed tariffs on India for buying Russian oil and weapons. Nirmala Sitharaman said that the reforms were being planned for several months.&nbsp;

Did 'tariff turmoil' prompt Centre's mega GST reform? Nirmala Sitharaman's clarification

Union Finance Minister Nirmala Sitharaman on Wednesday (Sep 3) addressed the media and announced that the GST Council, in its meeting, approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from September 22, 2025, with the exception of tobacco products, based on certain conditions. The Council will also meet on Thursday (Sep 4). Calling it a ‘historic Diwali gift for the nation’, Sitharaman said that these next-generation GST reforms are for ease of living and to build an Aatmanirbhar Bharat.&nbsp;&nbsp;After the announcements, Prime Minister Narendra Modi said that the government's intention was to bring the next-generation reforms in GST to “ensure ease of doing business for all, especially small traders and businesses.” “The Union Government had prepared a detailed proposal for broad-based GST rate rationalisation and process reforms, aimed at ease of living for the common man and strengthening the economy,” the PM said. &nbsp;He praised the GST council comprising the Union and States for collectively agreeing to the proposals submitted by the Union Government on GST rate cuts and reforms. He said it will benefit the common man, farmers, MSMEs, the middle class, women, and youth. "The wide-ranging reforms will improve the lives of our citizens,” he added.<h2>What gets cheaper?</h2>Stating that a complete reduction has been done on items that the common man and middle class use on a daily basis, Union Finance Minister Nirmala Sitharaman said that items like milk, paneer, chena, and all Indian breads (roti, paratha) will come under nil tax. She added that items like namkeen, noodles, chocolates, coffee, butter, ghee were brought from 12/18 per cent, 5 per cent. The finance minister also added that ACs, TVs (all sizes), dishwashers, small cars, and motorcycles ≤350cc were moved from 28 per cent to 18 &nbsp;per cent.<h2>Zero tax</h2><ol><li>Paneer/Chena (packed)&nbsp;</li><li>UHT Milk (tetra-pack milk)&nbsp;</li><li>&nbsp;Paratha/Parota &amp; Indian breads (all names)</li><li>&nbsp;Roti/Chapati/Khakhra, Pizza bread&nbsp;</li></ol><h2>Moved to 5%</h2><ul><li>Butter / Ghee / Dairy spreads&nbsp;</li><li>Cheese</li><li>Dry Fruits (almonds, pistachio, hazelnut, dates, anjeer etc.)&nbsp;</li><li>Chocolates, Pastry, Cakes, Biscuits, Jams&nbsp;</li><li>Namkeen/Bhujia/Mixture/Chabena (packed)&nbsp;</li><li>Pasta/Spaghe[/Macaroni/Noodles&nbsp;</li><li>Corn Flakes &amp; other cereal flakes</li><li>Pickles (achar)&nbsp;</li><li>Fruit &amp; Veg Juices Tender Coconut Water (packed)&nbsp;</li><li>Refined Sugar &amp; Sugar Cubes</li><li>Coffee&nbsp;</li><li>Curry paste</li><li>Mayonnaise&nbsp;</li><li>Salad dressings&nbsp;</li><li>Soups &amp; Broths (ready/pre-mix)</li><li>Yeast &amp; Baking powder&nbsp;</li><li>Preserved Fish/Meat (canned/ready)</li><li>Beverages (non-alcoholic)&nbsp;</li><li>Drinking Water jars&nbsp;</li><li>Plant-based milk drinks (coconut milk, almond milk, cashew milk, flax milk, rice milk, and oat milk)&nbsp;</li><li>Fruit-pulp/fruit-juice based drinks (non-carbonated)&nbsp;</li><li>Beverages containing milk (milk-based drinks)&nbsp;</li><li>Personal Care (daily-use)&nbsp;</li><li>Toilet Soaps (bars/cakes)</li><li>Toothpaste</li><li>Dental floss</li><li>Toothbrushes</li><li>Tooth powder</li><li>Hair oil &amp; Shampoo</li><li>Talcum/Face powder</li><li>Shaving cream/afershave/loGon&nbsp;</li><li>Combs, hairpins, curlers (non-electric)</li><li>Feeding bottles &amp; nipples</li><li>Baby napkins &amp; diapers (all types)&nbsp;</li><li>Safety matches</li><li>Candles/handmade candles&nbsp;</li><li>Kitchen utensils (Steel/Aluminium/Copper/Brass/Wood)&nbsp;</li><li>Kerosene/wood stoves (non-electric)</li><li>Sewing machines &amp; parts&nbsp;</li><li>Rubber bands&nbsp;</li><li>Students &amp; Education&nbsp;</li><li>Exercise/Graph/Lab notebooks</li><li>Erasers&nbsp;</li><li>Textbook/Notebook paper (uncoated)</li><li>&nbsp;Maps/Atlases/Globes (printed)</li><li>Pencils, crayons, pastels, charcoal&nbsp;</li><li>Pencil sharpeners&nbsp;</li><li>Geometry/Colour boxes&nbsp;</li><li>Paper cartons/boxes (corrugated/others)&nbsp;</li><li>Paper moulded trays&nbsp;</li><li>Medicines &amp; Medical Devices</li><li>Many rare-disease &amp; cancer drugs</li><li>All (other) drugs &amp; medicines (incl. ayurveda, unani, siddha, homeopathy)&nbsp;</li><li>Medical oxygen&nbsp;</li><li>DiagnosGc kits &amp; DiagnosGc reagents (Chemicals), Glucometer &amp; Test strips&nbsp;</li><li>Thermometers (medical)&nbsp;</li><li>Medical/surgical instruments</li><li>Surgical rubber gloves</li><li>Farmers &amp; Irrigation&nbsp;</li><li>Tractors (except road tractors for semi-trailers of engine capacity more than 1800 cc)&nbsp;</li><li>Tractor tyres/tubes&nbsp;</li><li>Tractor parts (brakes, gearbox, clutch, wheels, steering, radiator, silencer, hydraulics, fenders/hood etc.)&nbsp;</li><li>Harvesters/Threshers &amp; parts&nbsp;</li><li>Soil-prep &amp; culGvaGon machinery&nbsp;</li><li>Poultry/bee-keeping machinery&nbsp;</li><li>Sprinklers/Drip irrigaGon &amp; nozzles&nbsp;</li><li>Hand pumps (others)</li><li>Composing machines</li></ul><h2>What gets costlier and comes under the 40 per cent slab?</h2>Union Finance Minister Nirmala Sitharaman said that a 40 per cent slab was applicable on sin and super luxury goods. These include items such as paan masala, tobacco, cigarettes, bidis, aerated water, carbonated and caffeinated beverages, as well as luxury items like motorcycles exceeding 350 cc, yachts, and helicopters. Sitharaman said that 5-7 goods were included in this slab.&nbsp;<h2>Moved to 18%</h2><ul><li>Two-wheelers (bikes/scooty ≤350cc)&nbsp;</li><li>Small cars (≤1200cc petrol / ≤1500cc diesel; ≤4m)&nbsp;</li><li>Three-wheelers (autos)&nbsp;</li><li>Passenger vehicles (10+ seats)&nbsp;</li><li>Engine parts, igniGon, pumps (vehicle)</li><li>Bicycles &amp; bicycle parts&nbsp;</li><li>Auto Components&nbsp;</li><li>Home Building &amp; Materials</li><li>Cement&nbsp;</li><li>Marble/TraverGne blocks, Granite blocks, Sand-lime bricks&nbsp;</li><li>ParGcle boards from agri-waste (bagasse, rice husk, jute, sisal etc.)</li><li>&nbsp;Bamboo flooring / joinery&nbsp;</li><li>Packing cases &amp; pallets (wood)&nbsp;</li><li>Consumer Electronics &amp; Appliances&nbsp;</li><li>Television sets (LCD/LED) (&gt; 32’)</li><li>Monitors &amp; Projectors (non-TV</li><li>&nbsp;Air-condiGoners&nbsp;</li><li>Dishwashers&nbsp;</li><li>Solar water heater &amp; systems, Solar cookers&nbsp;</li><li>Toys, Sports &amp; Handicrafts</li><li>&nbsp;Toys like tricycles, scooters, pedal cars etc. (including parts and accessories thereof) [other than electronic toys]&nbsp;</li><li>&nbsp;Wooden/metal/texGle dolls &amp; toys (Channapatna, Thanjavur, Sawantwadi etc.)&nbsp;</li><li>Board games (Ludo/Carrom/Chess/Playing cards)&nbsp;</li><li>&nbsp;Sports goods other than arGcles and equipment for general physical exercise&nbsp;</li><li>Handicraf idols &amp; statues (wood/stone/metal) and lamps (incl. panchloga)&nbsp;</li><li>Brass/Copper/Aluminium artware&nbsp;</li><li>&nbsp;PainGngs, sculptures</li></ul>

FM Nirmala Sitharaman announced new GST slabs: 5%, 18%, and a special 40% rate on sin and luxury goods like tobacco, yachts, and helicopters. Daily-use items like milk, paneer, and rotis now have zero tax. Changes take effect from Sept 22, 2025.


Union Finance Minister Nirmala Sitharaman on Wednesday (Sep 3) addressed the media and announced that the GST Council, in its meeting, approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from September 22, 2025, with the exception of tobacco products, based on certain conditions. The Council will also meet on Thursday (Sep 4). Calling it a ‘historic Diwali gift for the nation’, Sitharaman said that these next-generation GST reforms are for ease of living and to build an Aatmanirbhar Bharat. After the announcements, Prime Minister Narendra Modi said that the government's intention was to bring the next-generation reforms in GST to “ensure ease of doing business for all, especially small traders and businesses.” “The Union Government had prepared a detailed proposal for broad-based GST rate rationalisation and process reforms, aimed at ease of living for the common man and strengthening the economy,” the PM said. He praised the GST council comprising the Union and States for collectively agreeing to the proposals submitted by the Union Government on GST rate cuts and reforms. He said it will benefit the common man, farmers, MSMEs, the middle class, women, and youth. "The wide-ranging reforms will improve the lives of our citizens,” he added. What gets cheaper? Stating that a complete reduction has been done on items that the common man and middle class use on a daily basis, Union Finance Minister Nirmala Sitharaman said that items like milk, paneer, chena, and all Indian breads (roti, paratha) will come under nil tax. She added that items like namkeen, noodles, chocolates, coffee, butter, ghee were brought from 12/18 per cent, 5 per cent. The finance minister also added that ACs, TVs (all sizes), dishwashers, small cars, and motorcycles ≤350cc were moved from 28 per cent to 18 per cent. Zero tax Paneer/Chena (packed) UHT Milk (tetra-pack milk) Paratha/Parota & Indian breads (all names) Roti/Chapati/Khakhra, Pizza bread Moved to 5% Butter / Ghee / Dairy spreads Cheese Dry Fruits (almonds, pistachio, hazelnut, dates, anjeer etc.) Chocolates, Pastry, Cakes, Biscuits, Jams Namkeen/Bhujia/Mixture/Chabena (packed) Pasta/Spaghe[/Macaroni/Noodles Corn Flakes & other cereal flakes Pickles (achar) Fruit & Veg Juices Tender Coconut Water (packed) Refined Sugar & Sugar Cubes Coffee Curry paste Mayonnaise Salad dressings Soups & Broths (ready/pre-mix) Yeast & Baking powder Preserved Fish/Meat (canned/ready) Beverages (non-alcoholic) Drinking Water jars Plant-based milk drinks (coconut milk, almond milk, cashew milk, flax milk, rice milk, and oat milk) Fruit-pulp/fruit-juice based drinks (non-carbonated) Beverages containing milk (milk-based drinks) Personal Care (daily-use) Toilet Soaps (bars/cakes) Toothpaste Dental floss Toothbrushes Tooth powder Hair oil & Shampoo Talcum/Face powder Shaving cream/afershave/loGon Combs, hairpins, curlers (non-electric) Feeding bottles & nipples Baby napkins & diapers (all types) Safety matches Candles/handmade candles Kitchen utensils (Steel/Aluminium/Copper/Brass/Wood) Kerosene/wood stoves (non-electric) Sewing machines & parts Rubber bands Students & Education Exercise/Graph/Lab notebooks Erasers Textbook/Notebook paper (uncoated) Maps/Atlases/Globes (printed) Pencils, crayons, pastels, charcoal Pencil sharpeners Geometry/Colour boxes Paper cartons/boxes (corrugated/others) Paper moulded trays Medicines & Medical Devices Many rare-disease & cancer drugs All (other) drugs & medicines (incl. ayurveda, unani, siddha, homeopathy) Medical oxygen DiagnosGc kits & DiagnosGc reagents (Chemicals), Glucometer & Test strips Thermometers (medical) Medical/surgical instruments Surgical rubber gloves Farmers & Irrigation Tractors (except road tractors for semi-trailers of engine capacity more than 1800 cc) Tractor tyres/tubes Tractor parts (brakes, gearbox, clutch, wheels, steering, radiator, silencer, hydraulics, fenders/hood etc.) Harvesters/Threshers & parts Soil-prep & culGvaGon machinery Poultry/bee-keeping machinery Sprinklers/Drip irrigaGon & nozzles Hand pumps (others) Composing machines What gets costlier and comes under the 40 per cent slab? Union Finance Minister Nirmala Sitharaman said that a 40 per cent slab was applicable on sin and super luxury goods. These include items such as paan masala, tobacco, cigarettes, bidis, aerated water, carbonated and caffeinated beverages, as well as luxury items like motorcycles exceeding 350 cc, yachts, and helicopters. Sitharaman said that 5-7 goods were included in this slab. Moved to 18% Two-wheelers (bikes/scooty ≤350cc) Small cars (≤1200cc petrol / ≤1500cc diesel; ≤4m) Three-wheelers (autos) Passenger vehicles (10+ seats) Engine parts, igniGon, pumps (vehicle) Bicycles & bicycle parts Auto Components Home Building & Materials Cement Marble/TraverGne blocks, Granite blocks, Sand-lime bricks ParGcle boards from agri-waste (bagasse, rice husk, jute, sisal etc.) Bamboo flooring / joinery Packing cases & pallets (wood) Consumer Electronics & Appliances Television sets (LCD/LED) (> 32’) Monitors & Projectors (non-TV Air-condiGoners Dishwashers Solar water heater & systems, Solar cookers Toys, Sports & Handicrafts Toys like tricycles, scooters, pedal cars etc. (including parts and accessories thereof) [other than electronic toys] Wooden/metal/texGle dolls & toys (Channapatna, Thanjavur, Sawantwadi etc.) Board games (Ludo/Carrom/Chess/Playing cards) Sports goods other than arGcles and equipment for general physical exercise Handicraf idols & statues (wood/stone/metal) and lamps (incl. panchloga) Brass/Copper/Aluminium artware PainGngs, sculptures

Union Finance Minister Nirmala Sitharaman announced new GST slabs of 5% and 18%, and a special 40% rate on sin and luxury goods like tobacco, yachts, and helicopters. Daily-use items like milk, paneer, and rotis now have zero tax. Changes take effect from Sept 22, 2025.

GST Reforms approved: What gets cheaper and costlier from September 22 - FULL LIST here

Finance Minister Nirmala Sitharaman on Wednesday night announced that the GST Council has approved the Centre's proposal for GST rationalisation, wherein the 12 per cent and 28 per cent slabs are eliminated and subsumed into the 5 per cent and 18 per cent slabs. The panel has also approved a 40 per cent slab for sin goods. The new rates will be implemented from September 22, the first day of Navratri. Most of the goods and services in the eliminated slabs will get cheaper, including cars.<h2>How much cheaper will cars get?</h2>According to the central government, the GST rate on small cars will be reduced from 28 per cent to 18 per cent. For GST, small cars are defined as those LPG, petrol, and CNG cars with an engine capacity up to 1200 cc and a length under 4000 mm.&nbsp;&nbsp;Diesel cars with engine capacity up to 1500 cc and length not more than 4000 mm are also considered small.&nbsp;The GST rate on all mid-size and large cars -- vehicles exceeding 1500 cc or length exceeding 4000 mm – will be 40%.&nbsp;&nbsp;Further, motor vehicles in the category of Utility Vehicles, by whatever name called including Sports Utility Vehicles (SUV), Multi Utility Vehicles (MUV), Multi-purpose Vehicles (MPV) or Cross-Over Utility Vehicles (XUV), with an engine capacity exceeding 1500 cc, length exceeding 4000 mm, and ground clearance of 170 mm and above, will also attract a GST rate of 40% without any cess.<h2>What did Nirmala Sitharaman say on GST?</h2>Nirmala Sitharaman said that the reforms focus on the interests of the common man. She said the reforms will directly benefit labour-intensive industries.&nbsp;"We have corrected inverted duty structure problems, we've resolved classification-related issues, and we've ensured that there will be stability and predictability about the GST. We've reduced the slabs. There shall be only two slabs, and we are also addressing the issues of compensation, ease of living, simplifying registration, return filing, and refunds," she added.&nbsp;Daily-use items like hair oil, toilet soap, soap bars, shampoos, toothbrushes, toothpaste, bicycles, tableware, kitchenware, and other household articles have been placed under the 5 per cent slab.&nbsp;&nbsp;Items on which GST has been reduced to zero from 5% include ultra-high temperature milk, chena, and paneer. All Indian breads will be available at a nil rate. So roti or paratha or whatever it is, they all come to nil.&nbsp;GST has also been reduced from 28 per cent to 18 per cent on air conditioners and dishwashers.&nbsp;The GST Council has also approved a 40 per cent tax on betting, casinos, and horse racing. Sports events like IPL will also attract 40 per cent GST.

Two GST slabs eliminated: Nirmala Sitharaman said that the reforms focus on the interests of the common man.

Finance Minister Nirmala Sitharaman on Wednesday night announced that the GST Council has approved the Centre's proposal for GST rationalisation, wherein the 12 per cent and 28 per cent slabs are eliminated and subsumed into the 5 per cent and 18 per cent slabs. The panel has also approved a 40 per cent slab for sin goods. The new rates will be implemented from September 22, the first day of Navratri. Most of the goods and services in the eliminated slabs will get cheaper, including cars. How much cheaper will cars get? According to the central government, the GST rate on small cars will be reduced from 28 per cent to 18 per cent. For GST, small cars are defined as those LPG, petrol, and CNG cars with an engine capacity up to 1200 cc and a length under 4000 mm. Diesel cars with engine capacity up to 1500 cc and length not more than 4000 mm are also considered small. The GST rate on all mid-size and large cars -- vehicles exceeding 1500 cc or length exceeding 4000 mm – will be 40%. Further, motor vehicles in the category of Utility Vehicles, by whatever name called including Sports Utility Vehicles (SUV), Multi Utility Vehicles (MUV), Multi-purpose Vehicles (MPV) or Cross-Over Utility Vehicles (XUV), with an engine capacity exceeding 1500 cc, length exceeding 4000 mm, and ground clearance of 170 mm and above, will also attract a GST rate of 40% without any cess. What did Nirmala Sitharaman say on GST? Nirmala Sitharaman said that the reforms focus on the interests of the common man. She said the reforms will directly benefit labour-intensive industries. "We have corrected inverted duty structure problems, we've resolved classification-related issues, and we've ensured that there will be stability and predictability about the GST. We've reduced the slabs. There shall be only two slabs, and we are also addressing the issues of compensation, ease of living, simplifying registration, return filing, and refunds," she added. Daily-use items like hair oil, toilet soap, soap bars, shampoos, toothbrushes, toothpaste, bicycles, tableware, kitchenware, and other household articles have been placed under the 5 per cent slab. Items on which GST has been reduced to zero from 5% include ultra-high temperature milk, chena, and paneer. All Indian breads will be available at a nil rate. So roti or paratha or whatever it is, they all come to nil. GST has also been reduced from 28 per cent to 18 per cent on air conditioners and dishwashers. The GST Council has also approved a 40 per cent tax on betting, casinos, and horse racing. Sports events like IPL will also attract 40 per cent GST.

Two GST slabs eliminated: Nirmala Sitharaman said that the reforms focus on the interests of the common man.&nbsp;

GST rates: How much tax will small cars, SUVs with over '170 mm' ground clearance attract?

India’s Union Finance Minister Nirmala Sitharaman on Wednesday (Sep 3) announced new reforms after the GST council meeting in the capital, as different sectors learnt their fate. While the agriculture and medical sectors received attention, it is the entertainment and sports sector that was also in the limelight after the new GST reforms were announced late Wednesday evening. So, will attending an IPL match in the nation gets costlier or cheaper? Here’s what the new reforms state.<h2>Will attending IPL matches get costlier or cheaper?</h2>“For all specified actionable claims, including betting, casinos, gambling, horse racing, lottery and online money gaming, GST rate of 40% will apply. Admission to sporting events like IPL will attract 40% GST. However, this rate of 40% will not apply to admission to recognized sporting events,” a detailed statement in the circular released by the GST council on new reforms read.&nbsp;“Admission to other sporting events, including recognised sporting events where the ticket price is not more than Rs. 500, continues to be exempt, and if the ticket price is more than Rs. 500, it continues to be taxed at the standard rate of 18%,” it further added.&nbsp;ALSO READ | <a href="https://www.wionews.com/photos/from-rohit-sharma-to-virat-kohli-here-is-a-look-at-five-indian-batters-with-most-runs-in-asia-cup-odis-t20is-sachin-tendulkar-ms-dhoni-dhawan-1754123070628">From Rohit Sharma to Virat Kohli, 5 Indian batters with most runs in Asia Cup (ODIs + T20Is)</a><h2>What else happened in GST Council meeting?</h2>The GST Council meeting approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from 22 Sep 2025, with the exception of tobacco products, based on certain conditions. The Council will also meet on Thursday (Sep 4). Calling it a ‘historic Diwali gift for the nation’, Sitharaman said that these next-generation GST reforms are for ease of living and to build an Aatmanirbhar Bharat.&nbsp;ALSO READ | <a href="https://www.wionews.com/sports/cricket-asia-cup-2025-full-squads-complete-fixtures-date-time-venue-and-live-streaming-details-check-all-details-1755585771834">Asia Cup 2025: All you need to know - full squads, complete fixtures, date, time, venue and other key details</a>&nbsp;After the announcements, Prime Minister Narendra Modi said that the government's intention was to bring the next-generation reforms in GST to “ensure ease of doing business for all, especially small traders and businesses.”&nbsp;ALSO READ | <a href="https://www.wionews.com/sports/cricket-asia-cup-2025-india-s-probable-playing-xi-shubman-gill-to-open-sanju-samson-at-no-3-tilak-varma-to-miss-out-1755663441686">Asia Cup 2025, India's Probable Playing XI: Shubman Gill to open, Sanju Samson at No.3; Tilak Varma to miss out</a>&nbsp;“The Union Government had prepared a detailed proposal for broad-based GST rate rationalisation and process reforms, aimed at ease of living for the common man and strengthening the economy,” the PM said.

While the agriculture and medical sectors received attention, it is the entertainment and sports sector that was also in the limelight after the new GST reforms were announced late Wednesday evening.

India’s Union Finance Minister Nirmala Sitharaman on Wednesday (Sep 3) announced new reforms after the GST council meeting in the capital, as different sectors learnt their fate. While the agriculture and medical sectors received attention, it is the entertainment and sports sector that was also in the limelight after the new GST reforms were announced late Wednesday evening. So, will attending an IPL match in the nation gets costlier or cheaper? Here’s what the new reforms state. Will attending IPL matches get costlier or cheaper? “For all specified actionable claims, including betting, casinos, gambling, horse racing, lottery and online money gaming, GST rate of 40% will apply. Admission to sporting events like IPL will attract 40% GST. However, this rate of 40% will not apply to admission to recognized sporting events,” a detailed statement in the circular released by the GST council on new reforms read. “Admission to other sporting events, including recognised sporting events where the ticket price is not more than Rs. 500, continues to be exempt, and if the ticket price is more than Rs. 500, it continues to be taxed at the standard rate of 18%,” it further added. ALSO READ | From Rohit Sharma to Virat Kohli, 5 Indian batters with most runs in Asia Cup (ODIs + T20Is) What else happened in GST Council meeting? The GST Council meeting approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from 22 Sep 2025, with the exception of tobacco products, based on certain conditions. The Council will also meet on Thursday (Sep 4). Calling it a ‘historic Diwali gift for the nation’, Sitharaman said that these next-generation GST reforms are for ease of living and to build an Aatmanirbhar Bharat. ALSO READ | Asia Cup 2025: All you need to know - full squads, complete fixtures, date, time, venue and other key details After the announcements, Prime Minister Narendra Modi said that the government's intention was to bring the next-generation reforms in GST to “ensure ease of doing business for all, especially small traders and businesses.” ALSO READ | Asia Cup 2025, India's Probable Playing XI: Shubman Gill to open, Sanju Samson at No.3; Tilak Varma to miss out “The Union Government had prepared a detailed proposal for broad-based GST rate rationalisation and process reforms, aimed at ease of living for the common man and strengthening the economy,” the PM said.

While the agriculture and medical sectors received attention, it is the entertainment and sports sector that was also in the limelight after the new GST reforms were announced late Wednesday evening.&nbsp;

Will attending IPL matches get costlier or cheaper, here's what new GST reforms state

Union Finance Minister Nirmala Sitharaman on September 3, announced that the GST Council has approved a new simplified tax structure with two main rates—5% and 18%—along with a special 40% tax on luxury and sin goods. This major reform, described as a "Diwali gift for the nation," will take effect from September 22, 2025, with specific conditions for tobacco products. A follow-up GST Council meeting is scheduled for September 4.Following the announcement, Prime Minister Narendra Modi highlighted that these next-gen GST reforms aim to simplify business for small traders and enhance the ease of living for the public. He said the changes were carefully planned to rationalise GST rates and streamline processes. Praising the cooperative effort between the Centre and states, Modi stated that the reforms will benefit a wide range of citizens, including farmers, MSMEs, women, youth, and the middle class, contributing to a stronger, more self-reliant India.<h2>FAQs on new GST reforms</h2><ol><li>When will the changes in GST rates come into force?&nbsp;</li></ol>As per recommendations of the GST Council in its 56th meeting, the changes in GST rates on services and goods other than cigarettes, chewing tobacco products like zarda, unmanufactured tobacco and beedi will be effective from 22nd September, 2025. For the specified goods namely, cigarettes, chewing tobacco products like zarda, unmanufactured tobacco and beedi, the existing rates of GST and compensation cess will continue to apply and the new rates will be implemented at a later date to be notified, based on discharging of entire loan and interest liabilities on account of compensation cess.&nbsp;2. UHT (Ultra High Temperature) milk has been exempted. Does exemption to UHT milk also cover plant-based milk?&nbsp;All dairy milk, other than UHT milk, were already exempt from GST. Hence UHT milk has been exempted to provide same tax treatment to similar goods. Plant based milk drinks except soya milk drinks attracted 18% GST while soya milk drink attracted 12% GST. The GST rate on plant-based milk drinks and soya milk drinks have now been reduced to 5%.&nbsp;3. What is the reason for 40% rate on ‘other non-alcoholic beverages’?&nbsp;The principle behind the recent rate rationalisation exercise is to keep similar goods at the same rate to avoid issues of misclassification and disputes. This has also been applied to ‘other nonalcoholic beverages’.&nbsp;4. Why is there a different tax treatment between paneer and other cheese?&nbsp;Prior to rate rationalisation, paneer sold in other than pre-packaged and labelled form already attracted nil rate. Therefore the changes have been made only in respect of paneer supplied in pre-packaged and labelled form. Paneer is an Indian cottage cheese. This is mostly produced in small scale sector. The measure is intended to promote Indian cottage cheese.&nbsp;5. What is the GST rate on medicines? Does the 5% GST rate apply on all medical devices?All drugs/ medicines have been prescribed a concessional rate of GST of 5%, except those specified at nil rate. The rate of 5% applies on all medical devices, instruments, apparatus used in medical, surgical, dental and veterinary uses other than that are exempted specifically.&nbsp;6. What is the revised GST rate on small petrol, LPG, CNG, or diesel cars? What is covered under small cars?The GST rate on all small cars has been reduced from 28% to 18%. For the purposes of GST, small cars means Petrol, LPG, or CNG cars with engine capacity up to 1200 cc and length up to 4000 mm and Diesel cars with engine capacity up to 1500 cc and length up to 4000 mm.&nbsp;7. What is the GST rate on 3-wheelers? What is the GST rate on vehicles supplied as ambulances?The GST rate on three-wheelers classified under HSN 8703 is 18%. It has been reduced from 28%. Motor vehicles cleared as ambulances, and duly fitted with all necessary fitments, furniture, and accessories necessary for an ambulance at the time of clearance from the factory will attract a GST rate of 18%. It has been reduced from 28%.&nbsp;8. What is the GST rate on motorcycles? GST rate is 18% for motor cycles upto 350cc? Does this include 350cc motor cycles?Motorcycles of engine capacity upto 350 cc attract a GST rate of 18% while Motorcycles of engine capacity exceeding 350 cc attract a GST rate of 40%. The 40% rate is applicable only to motorcycles exceeding 350cc. Therefore the 18% rate also applies to motor cycles of 350cc or lesser than 350cc&nbsp;9. Why has GST not been removed on raw cotton?&nbsp;Currently, cotton attracts GST on reverse charge basis. This means that agriculturists do not have to pay GST when they supply raw cotton. The reason for taxing cotton in GST is to avoid breakage in input credit chain and the GST paid on cotton is available as input tax credit for the textile industry. This will ultimately benefit the consumers.&nbsp;10. What is the GST rate on Air Conditioners, TVs, monitors and dishwashers?GST on air conditioners and dishwashers has been reduced from 28% to 18%. Earlier TVs and monitors up to 32 inches earlier attracted 18% GST while larger TVs and monitors attracted 28% GST. Now all TVs and monitors will be uniformly taxed at 18%.&nbsp;

The GST Council has approved new reforms with 5%, 18%, and 40% slabs effective from Sept 22, 2025. UHT milk, medicines, and medical devices see lower rates. GST on small cars, 3-wheelers, ACs, TVs, and motorcycles ≤350cc reduced to 18%.  All FAQs here

Union Finance Minister Nirmala Sitharaman on September 3, announced that the GST Council has approved a new simplified tax structure with two main rates—5% and 18%—along with a special 40% tax on luxury and sin goods. This major reform, described as a "Diwali gift for the nation," will take effect from September 22, 2025, with specific conditions for tobacco products. A follow-up GST Council meeting is scheduled for September 4. Following the announcement, Prime Minister Narendra Modi highlighted that these next-gen GST reforms aim to simplify business for small traders and enhance the ease of living for the public. He said the changes were carefully planned to rationalise GST rates and streamline processes. Praising the cooperative effort between the Centre and states, Modi stated that the reforms will benefit a wide range of citizens, including farmers, MSMEs, women, youth, and the middle class, contributing to a stronger, more self-reliant India. FAQs on new GST reforms When will the changes in GST rates come into force? As per recommendations of the GST Council in its 56th meeting, the changes in GST rates on services and goods other than cigarettes, chewing tobacco products like zarda, unmanufactured tobacco and beedi will be effective from 22nd September, 2025. For the specified goods namely, cigarettes, chewing tobacco products like zarda, unmanufactured tobacco and beedi, the existing rates of GST and compensation cess will continue to apply and the new rates will be implemented at a later date to be notified, based on discharging of entire loan and interest liabilities on account of compensation cess. 2. UHT (Ultra High Temperature) milk has been exempted. Does exemption to UHT milk also cover plant-based milk? All dairy milk, other than UHT milk, were already exempt from GST. Hence UHT milk has been exempted to provide same tax treatment to similar goods. Plant based milk drinks except soya milk drinks attracted 18% GST while soya milk drink attracted 12% GST. The GST rate on plant-based milk drinks and soya milk drinks have now been reduced to 5%. 3. What is the reason for 40% rate on ‘other non-alcoholic beverages’? The principle behind the recent rate rationalisation exercise is to keep similar goods at the same rate to avoid issues of misclassification and disputes. This has also been applied to ‘other nonalcoholic beverages’. 4. Why is there a different tax treatment between paneer and other cheese? Prior to rate rationalisation, paneer sold in other than pre-packaged and labelled form already attracted nil rate. Therefore the changes have been made only in respect of paneer supplied in pre-packaged and labelled form. Paneer is an Indian cottage cheese. This is mostly produced in small scale sector. The measure is intended to promote Indian cottage cheese. 5. What is the GST rate on medicines? Does the 5% GST rate apply on all medical devices? All drugs/ medicines have been prescribed a concessional rate of GST of 5%, except those specified at nil rate. The rate of 5% applies on all medical devices, instruments, apparatus used in medical, surgical, dental and veterinary uses other than that are exempted specifically. 6. What is the revised GST rate on small petrol, LPG, CNG, or diesel cars? What is covered under small cars? The GST rate on all small cars has been reduced from 28% to 18%. For the purposes of GST, small cars means Petrol, LPG, or CNG cars with engine capacity up to 1200 cc and length up to 4000 mm and Diesel cars with engine capacity up to 1500 cc and length up to 4000 mm. 7. What is the GST rate on 3-wheelers? What is the GST rate on vehicles supplied as ambulances? The GST rate on three-wheelers classified under HSN 8703 is 18%. It has been reduced from 28%. Motor vehicles cleared as ambulances, and duly fitted with all necessary fitments, furniture, and accessories necessary for an ambulance at the time of clearance from the factory will attract a GST rate of 18%. It has been reduced from 28%. 8. What is the GST rate on motorcycles? GST rate is 18% for motor cycles upto 350cc? Does this include 350cc motor cycles? Motorcycles of engine capacity upto 350 cc attract a GST rate of 18% while Motorcycles of engine capacity exceeding 350 cc attract a GST rate of 40%. The 40% rate is applicable only to motorcycles exceeding 350cc. Therefore the 18% rate also applies to motor cycles of 350cc or lesser than 350cc 9. Why has GST not been removed on raw cotton? Currently, cotton attracts GST on reverse charge basis. This means that agriculturists do not have to pay GST when they supply raw cotton. The reason for taxing cotton in GST is to avoid breakage in input credit chain and the GST paid on cotton is available as input tax credit for the textile industry. This will ultimately benefit the consumers. 10. What is the GST rate on Air Conditioners, TVs, monitors and dishwashers? GST on air conditioners and dishwashers has been reduced from 28% to 18%. Earlier TVs and monitors up to 32 inches earlier attracted 18% GST while larger TVs and monitors attracted 28% GST. Now all TVs and monitors will be uniformly taxed at 18%.

The GST Council has approved new reforms with 5%, 18%, and 40% slabs effective from Sept 22, 2025. UHT milk, medicines, and medical devices see lower rates. GST on small cars, 3-wheelers, ACs, TVs, and motorcycles ≤350cc reduced to 18%. &nbsp;All FAQs here

What is new GST on motorcycles, ACs and TVs to when will the changes come into force: All FAQs answered

The 56th GST Council meeting, led by Finance Minister Nirmala Sitharaman, on Wednesday (September 3) approved a two-tier structure with rates of 5% and 18%, and a special tax of 40% on sin goods. The decision was unanimous, said Union Finance Minister Nirmala Sitharaman, and will come into effect from September 22, 2025. &nbsp;The GST overhaul replaces the existing four slabs of 5%, 12%, 18%, and 28% with a simplified two-rate system. In the new regime, essential or “merit" goods will be taxed at 5%, while most goods and services will fall under the 18% standard rate.

<blockquote class="twitter-tweet">Hon’ble Prime Minister Shri <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> announced the Next-Generation GST Reforms in his Independence Day address from the ramparts of Red Fort. Working on the same principle, the GST Council has approved significant reforms today. These reforms have a multi-sectoral and… <a href="https://t.co/NzvvVScKCF">pic.twitter.com/NzvvVScKCF</a>&mdash; Nirmala Sitharaman Office (@nsitharamanoffc) <a href="https://twitter.com/nsitharamanoffc/status/1963285050163958259?ref_src=twsrc%5Etfw">September 3, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

“The Prime Minister actually set the tone for the next generation of reforms on August 15. These reforms are not just a rationalisation of rates, but also ease of business and living. There shall be only two slabs," Union Finance Minister Nirmala Sitharaman said.&nbsp;“We have reduced the slabs to just two. We are simplifying registration, return filing, and refunds. We are making reforms with a focus on the common man. We have ensured that daily-use items for the common man get cheaper.” “We are extending strong support to labour-intensive industries. We are ensuring farmers and agriculture benefit from today’s decisions. We are prioritising health as a key driver of the economy. We are carrying out reforms to ease living and improve transparency. Thanks to all state FMs for being on board with today’s decision. PM has been pushing for giving relief to the people of India," she further added.&nbsp;Bihar Deputy Chief Minister Samrat Choudhary said the move was taken with the consensus of all states, calling it a collective decision on rate rationalisation. West Bengal Finance Minister Chandrima Bhattacharya noted that the restructuring would result in an estimated revenue loss of ₹47,700 crore.<h2>Prime Minister Narendra Modi reacts</h2>

<h2>Here are the new GST reductions</h2>Now at 5%: Hair oil, toilet soaps, soap bars, shampoos, toothbrushes, toothpaste, bicycles, tableware, kitchenware, and other household items.Now at 0% (from 5%): Ultra-high temperature (UHT) milk, chena, paneer, and all varieties of Indian breads, including roti and paratha.Reduced to 5% (from 12% or 18%): Packaged food items such as namkeen, bhujia, sauces, pasta, instant noodles, chocolates, coffee, preserved meats, cornflakes, butter, and ghee.Reduced to 18% (from 28%): Air conditioners, television sets above 32 inches (all TVs are now taxed at 18%), dishwashers, small cars, and motorcycles with engine capacity of 350 cc or below.

The 56th GST Council meeting on Wednesday approved a two-slab structure of 5 per cent and 18 per cent, and a special tax of 40 per cent on sin goods. The GST Council decided that the new two-tier tax structure will come into effect from September 22.

The 56th GST Council meeting, led by Finance Minister Nirmala Sitharaman, on Wednesday (September 3) approved a two-tier structure with rates of 5% and 18%, and a special tax of 40% on sin goods. The decision was unanimous, said Union Finance Minister Nirmala Sitharaman, and will come into effect from September 22, 2025. The GST overhaul replaces the existing four slabs of 5%, 12%, 18%, and 28% with a simplified two-rate system. In the new regime, essential or “merit" goods will be taxed at 5%, while most goods and services will fall under the 18% standard rate.

The 56th GST Council meeting on Wednesday approved a two-slab structure of 5 per cent and 18 per cent, and a special tax of 40 per cent on sin goods.&nbsp;The GST Council decided that the new two-tier tax structure will come into effect from September 22.

GST 2.0: Only 2 slabs of 5% and 18% from Sept 22; 40% for sin goods; focus on common man, says FM

Maruti Suzuki, the most successful car company in India, has launched an SUV called Victoris. The new SUV has passed the Bharat New Car Assessment Programme with five stars, which&nbsp;is the highest crash rating a vehicle can receive. The car has received the ratings for both child and adult occupant protection.&nbsp;The Maruti Suzuki Victoris secured 31.66 out of 32 points for adult occupant and 43 out of 49 points for child safety. The car boasts several safety features, including ADAS Level 2, discs on all four brakes, cameras, ABS, etc.&nbsp;It also has an automatic emergency brake, adaptive cruise control with curve speed reduction, lane keep assist, high beam assist, and rear cross traffic alert, among other features.<h2>Maruti Suzuki Victoris engine options</h2>The car will come with two engine options – a 1.5L naturally aspirated petrol engine and a 1.5L strong-hybrid. The naturally aspirated engine produces 104 horsepower and 139 Nm of torque.&nbsp;Its strong hybrid engine produces 92.5 HP and 122 Nm of torque.&nbsp;Maruti Suzuki's SUV models include Fronx, Brezza, Jimny, and Grand Vitara.&nbsp;Hisashi Takeuchi, MD and CEO of Maruti and Suzuki, told the Economic Times that Victoris&nbsp;will be exported to 100 countries.&nbsp;"For environment-conscious customers, we are offering Victoris with multiple powertrain options, including strong hybrid and CNG," he added.&nbsp;The model will be sold out from the company's Arena sales network and will compete with rivals like Creta, Seltos, and Honda Elevate.&nbsp;Maruti Suzuki invested Rs 1,240 crore in the development of Victoris. The prices have not been revealed, but the cars can be booked with an initial deposit of Rs 11,000.<h2>Here are the top features of Maruti&nbsp;Suzuki Victoris.</h2>6 airbags as standard; 5-star Bharat NCAP ratings; 26.03 cm fully digital command centre; Level 2 ADAS; mood-based ambient lighting etc.&nbsp;&nbsp;The car will be available in 12 colours. Two new colours – Eternal Blue and Mystic Green – have been introduced.

Maruti Suzuki Victoris launched: The car comes with two engine options – a 1.5L naturally aspirated petrol engine and a 1.5L strong-hybrid.

Maruti Suzuki, the most successful car company in India, has launched an SUV called Victoris. The new SUV has passed the Bharat New Car Assessment Programme with five stars, which is the highest crash rating a vehicle can receive. The car has received the ratings for both child and adult occupant protection. The Maruti Suzuki Victoris secured 31.66 out of 32 points for adult occupant and 43 out of 49 points for child safety. The car boasts several safety features, including ADAS Level 2, discs on all four brakes, cameras, ABS, etc. It also has an automatic emergency brake, adaptive cruise control with curve speed reduction, lane keep assist, high beam assist, and rear cross traffic alert, among other features. Maruti Suzuki Victoris engine options The car will come with two engine options – a 1.5L naturally aspirated petrol engine and a 1.5L strong-hybrid. The naturally aspirated engine produces 104 horsepower and 139 Nm of torque. Its strong hybrid engine produces 92.5 HP and 122 Nm of torque. Maruti Suzuki's SUV models include Fronx, Brezza, Jimny, and Grand Vitara. Hisashi Takeuchi, MD and CEO of Maruti and Suzuki, told the Economic Times that Victoris will be exported to 100 countries. "For environment-conscious customers, we are offering Victoris with multiple powertrain options, including strong hybrid and CNG," he added. The model will be sold out from the company's Arena sales network and will compete with rivals like Creta, Seltos, and Honda Elevate. Maruti Suzuki invested Rs 1,240 crore in the development of Victoris. The prices have not been revealed, but the cars can be booked with an initial deposit of Rs 11,000. Here are the top features of Maruti Suzuki Victoris. 6 airbags as standard; 5-star Bharat NCAP ratings; 26.03 cm fully digital command centre; Level 2 ADAS; mood-based ambient lighting etc. The car will be available in 12 colours. Two new colours – Eternal Blue and Mystic Green – have been introduced.

Maruti Suzuki Victoris launched: The car comes with two engine options – a 1.5L naturally aspirated petrol engine and a 1.5L strong-hybrid.

Maruti Suzuki Victoris launched: Check features, booking amount, engine options

Gold prices can hover&nbsp;between Rs 99,500 to Rs 1,10,000 per ten grams through the rest of the year, said a&nbsp;research note by ICICI Bank's Economic Research Group. The next year might bring better news for gold investors, as the report predicts, they can reach between Rs 1,10,000 to Rs 1,25,000 in the first half&nbsp;of 2026.<h2>What are the predictions for gold prices?</h2>"Risks to these projections are to the upside if the INR trades at a much depreciated level against the USD than our projections. We have assumed an average range of 87.00-89.00 for the USD/INR pair for the period," noted the report.&nbsp;In 2025, gold prices have surged 33 per cent in the first half of 2025. The prices are buoyed&nbsp;by&nbsp;expectations of monetary easing by the US Federal Reserve and persistent institutional concerns about the US economy.&nbsp;During the remaining year, these prices are expected to remain between $3,400-3,600. It will strengthen to $3,600-3,800 per ounce in the first half of 2026.&nbsp;The report said that the prices of gold may rise further if geopolitical tensions intensify in the near future.&nbsp;"If geo-political tensions intensify, there could be a further upside to these ranges," adds the report.&nbsp;The continued concerns about structural weakness and institutional concerns about the US economy are expected to keep gold prices trading with a bullish bias in the medium term. Despite a slight easing in safe-haven buying, the report notes that medium-term bullish expectations for the yellow metal remain intact.&nbsp;The developments in the United States, including the anticipated 125 basis points of Fed rate cuts over 2025-26, will dictate the movement of gold prices.&nbsp;Weaker rupee and the demand of investors have increased gold imports. India's imports were&nbsp;USD 4.0 billion in July 2025.&nbsp;Gold ETFs in India also saw significant inflows, with YTD investments nearly doubling compared to last year.

Gold prices can hover between Rs 99,500 to Rs 1,10,000 per ten grams through the rest of the year, said a research note by ICICI Bank's Economic Research Group.

Gold prices can hover between Rs 99,500 to Rs 1,10,000 per ten grams through the rest of the year, said a research note by ICICI Bank's Economic Research Group. The next year might bring better news for gold investors, as the report predicts, they can reach between Rs 1,10,000 to Rs 1,25,000 in the first half of 2026. What are the predictions for gold prices? "Risks to these projections are to the upside if the INR trades at a much depreciated level against the USD than our projections. We have assumed an average range of 87.00-89.00 for the USD/INR pair for the period," noted the report. In 2025, gold prices have surged 33 per cent in the first half of 2025. The prices are buoyed by expectations of monetary easing by the US Federal Reserve and persistent institutional concerns about the US economy. During the remaining year, these prices are expected to remain between $3,400-3,600. It will strengthen to $3,600-3,800 per ounce in the first half of 2026. The report said that the prices of gold may rise further if geopolitical tensions intensify in the near future. "If geo-political tensions intensify, there could be a further upside to these ranges," adds the report. The continued concerns about structural weakness and institutional concerns about the US economy are expected to keep gold prices trading with a bullish bias in the medium term. Despite a slight easing in safe-haven buying, the report notes that medium-term bullish expectations for the yellow metal remain intact. The developments in the United States, including the anticipated 125 basis points of Fed rate cuts over 2025-26, will dictate the movement of gold prices. Weaker rupee and the demand of investors have increased gold imports. India's imports were USD 4.0 billion in July 2025. Gold ETFs in India also saw significant inflows, with YTD investments nearly doubling compared to last year.

Gold price prediction: In 2025, gold prices have surged 33 per cent in the first half of 2025. The prices are buoyed&nbsp;by&nbsp;expectations of monetary easing by the US Federal Reserve&nbsp;

Gold prices to touch Rs 125,000 per 10 grams? Report makes massive prediction

To promote the use of cleaner transportation, the Maharashtra government has announced that electric vehicles will be exempt from paying toll tax on the Atal Setu, Mumbai-Pune Expressway, and the Samruddhi Highway.<h2>All you need to know about the Maharashtra poll exemption</h2>The move was announced by the state's transport minister, Pratap Sarnaik. The decision to exempt electric cars from toll taxes was taken to encourage cleaner transport and support EV owners across the state.&nbsp;The minister said that under Maharashtra's Motor Vehicle Tax Act 1958, all types of electric vehicles have been exempted from toll plazas while travelling on certain routes.&nbsp;The decision covers electric four-wheelers in the M2, M3, and M6 categories, along with electric buses operated both by State Transport Undertakings (STU) and private players.&nbsp;The exemption became effective at midnight on August 22, 2025.&nbsp;The state government believes that the move, taken under the guidance of Chief Minister Devendra Fadnavis and Deputy Chief Ministers Eknath Shinde and Ajit Pawar, will give a fillip to the state's electric vehicle industry.&nbsp;The statement said that the move will also make road travel cheaper for travelers.&nbsp;"This decision of the government will be important in promoting eco-friendly transport and clean energy use in the state," Sarnaik added.&nbsp;Apart from the waiver of toll for EVs, the Maharashtra Cabinet has cleared several urban transport projects, including the approval of Anik Depot-Wadala Metro Line-11, with a budget provision of Rs 23,487.51 crore.&nbsp;The government has also approved loans for the Thane Circular Metro, Pune Metro Line-2, Line-4, and Nagpur Metro Phase-2. At the cost of Rs 683.11 crore, the state cabinet has approved the construction of two new metro stations at Balajinagar and Bibwewadi on the Swargate-Katraj Metro line.&nbsp;The Mumbai Urban Transport Project (MUTP) and road infrastructure projects in Thane, Navi Mumbai, and Nagpur will also be upgraded.

To promote the use of cleaner transportation, the Maharashtra government has announced that electric vehicles will be exempt from paying toll tax.

To promote the use of cleaner transportation, the Maharashtra government has announced that electric vehicles will be exempt from paying toll tax on the Atal Setu, Mumbai-Pune Expressway, and the Samruddhi Highway. All you need to know about the Maharashtra poll exemption The move was announced by the state's transport minister, Pratap Sarnaik. The decision to exempt electric cars from toll taxes was taken to encourage cleaner transport and support EV owners across the state. The minister said that under Maharashtra's Motor Vehicle Tax Act 1958, all types of electric vehicles have been exempted from toll plazas while travelling on certain routes. The decision covers electric four-wheelers in the M2, M3, and M6 categories, along with electric buses operated both by State Transport Undertakings (STU) and private players. The exemption became effective at midnight on August 22, 2025. The state government believes that the move, taken under the guidance of Chief Minister Devendra Fadnavis and Deputy Chief Ministers Eknath Shinde and Ajit Pawar, will give a fillip to the state's electric vehicle industry. The statement said that the move will also make road travel cheaper for travelers. "This decision of the government will be important in promoting eco-friendly transport and clean energy use in the state," Sarnaik added. Apart from the waiver of toll for EVs, the Maharashtra Cabinet has cleared several urban transport projects, including the approval of Anik Depot-Wadala Metro Line-11, with a budget provision of Rs 23,487.51 crore. The government has also approved loans for the Thane Circular Metro, Pune Metro Line-2, Line-4, and Nagpur Metro Phase-2. At the cost of Rs 683.11 crore, the state cabinet has approved the construction of two new metro stations at Balajinagar and Bibwewadi on the Swargate-Katraj Metro line. The Mumbai Urban Transport Project (MUTP) and road infrastructure projects in Thane, Navi Mumbai, and Nagpur will also be upgraded.

Maharashtra news: The decision covers electric four-wheelers in the M2, M3, and M6 categories, along with electric buses operated both by State Transport Undertakings (STU) and private players.

No toll tax for electric vehicles on these Maharashtra roads. Check details

Ahead of the crucial GST Council meeting, the finance ministers of eight opposition-ruled states met on Wednesday morning and formed a strategy over the Centre's plan to rationalise GST rates. The ministers of Himachal Pradesh, Jharkhand, Karnataka, Kerala, Punjab, Tamil Nadu, Telangana and West Bengal participated&nbsp;in the huddle and later expressed concerns over the expected loss of revenue if the GST Council approves the Central government's proposal.<h2>Here's what the Opposition says on GST reforms</h2>Most states supported the Centre's proposal. However, they said that they will not approve the proposal in the GST Council meeting until the government clarifies how it plans to offset the revenue loss.&nbsp;The National Democratic Alliance’s (NDA’s) key ally, TDP, which rules in Andhra Pradesh, supported the proposal.&nbsp;Jharkhand’s Finance Minister Radha Krishana Kishore, however, said his state stands to lose Rs 2000 crore annually if the&nbsp;proposal is approved.&nbsp;"Loss hoga state ko, woh compensation central government de toh phir unko agenda ko approve karenge otherwise nahi karenge (States will face revenue loss and the central government needs to compensate for revenue loss. And if they assure compensation, we will approve the proposal, otherwise not)," he was quoted as saying by The Indian Express.&nbsp;Himachal Pradesh’s Minister for Technical Education, Rajesh Dharmani, said he would wait and watch the Centre's next move during the meeting.&nbsp;The 56th meeting of the GST Council began today. Union Finance Minister Nirmala Sitharaman and ministers from 31 states and Union Territories attended the meeting, where the main agenda was a discussion on the Centre's GST rationalisation plan.The Opposition-ruled states met on Friday, where they said the loss of revenue would be between Rs 85,000 crore and Rs 2 lakh crore per annum. They demanded that the Centre compensate the states for revenue loss.&nbsp;The Central government has proposed to eliminate the 12 per cent and 28 per cent GST slabs and place most of the items in these categories in 5 per cent and 18 per cent slabs.

Ahead of the crucial GST Council meeting, the finance ministers of eight opposition-ruled states met on Wednesday morning and formed a strategy over the Centre's plan to rationalise GST rates.

Ahead of the crucial GST Council meeting, the finance ministers of eight opposition-ruled states met on Wednesday morning and formed a strategy over the Centre's plan to rationalise GST rates. The ministers of Himachal Pradesh, Jharkhand, Karnataka, Kerala, Punjab, Tamil Nadu, Telangana and West Bengal participated in the huddle and later expressed concerns over the expected loss of revenue if the GST Council approves the Central government's proposal. Here's what the Opposition says on GST reforms Most states supported the Centre's proposal. However, they said that they will not approve the proposal in the GST Council meeting until the government clarifies how it plans to offset the revenue loss. The National Democratic Alliance’s (NDA’s) key ally, TDP, which rules in Andhra Pradesh, supported the proposal. Jharkhand’s Finance Minister Radha Krishana Kishore, however, said his state stands to lose Rs 2000 crore annually if the proposal is approved. "Loss hoga state ko, woh compensation central government de toh phir unko agenda ko approve karenge otherwise nahi karenge (States will face revenue loss and the central government needs to compensate for revenue loss. And if they assure compensation, we will approve the proposal, otherwise not)," he was quoted as saying by The Indian Express. Himachal Pradesh’s Minister for Technical Education, Rajesh Dharmani, said he would wait and watch the Centre's next move during the meeting. The 56th meeting of the GST Council began today. Union Finance Minister Nirmala Sitharaman and ministers from 31 states and Union Territories attended the meeting, where the main agenda was a discussion on the Centre's GST rationalisation plan. The Opposition-ruled states met on Friday, where they said the loss of revenue would be between Rs 85,000 crore and Rs 2 lakh crore per annum. They demanded that the Centre compensate the states for revenue loss. The Central government has proposed to eliminate the 12 per cent and 28 per cent GST slabs and place most of the items in these categories in 5 per cent and 18 per cent slabs.

GST Council Meeting underway: Jharkhand’s Finance Minister Radha Krishana Kishore, however, said his state stands to lose Rs 2000 crore annually if the&nbsp;proposal is approved.

GST Council Meeting: What is Opposition's stand on Centre's proposed GST reforms?