Try GOLD - Free
GST on cars, two-wheelers may be cut
Financial Express Delhi
|August 17, 2025
Going by the Centre's formula, both the 28% tax bracket and the cess, which will outlive its utility by November, will be done away with.
-
GOING BY THE Centre's formula, both the 28% tax bracket and the cess, which will outlive its utility by November, will be done away with. The 12% rate, which covers barely 5% of the items, will also go.
A senior official said on Saturday that the Union government's approach would not be to put its proposal on the table and ask the states to accept them. "It is a proposal that is being put up for consideration of the (GST) Council. Prior to that, a group of ministers (would review it). We would not want to preempt any of its (the council's) powers, nor would we like to lock everything in, and say you (states) sign it," the official said. The weighted average GST rate may fall further from the current level of around 11%. Though there could be a short-term dip in tax buoyancy, this would be 'manageable', the official said.
This story is from the August 17, 2025 edition of Financial Express Delhi.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Financial Express Delhi
Financial Express Delhi
Credit growth at 1-year high
BANK CREDIT GROWTH touched 11.53% for the fortnight ended November 28, 2025, marking the strongest lending momentum in 12 months, reports Mahesh Nayak.
1 min
December 13, 2025
Financial Express Delhi
EU to freeze Russian assets
THE EUROPEAN UNION looked set on Friday to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Moscow's invasion.
1 min
December 13, 2025
Financial Express Delhi
Govt speeds up visa for Chinese professionals
• Processing time less than 1 month now; China sees ‘positive action’
1 min
December 13, 2025
Financial Express Delhi
ICICI Pru AMC issue booked 72% on first day
THE INITIAL PUBLIC offering (IPO) of ICICI Prudential AMC, the second-largest mutual fund house by assets, was subscribed 72% on the first day of the bidding on Friday.
1 min
December 13, 2025
Financial Express Delhi
Reforms engine gathers steam
CABINET APPROVES BILL TO HIKE INSURANCE FDI TO 100%
1 min
December 13, 2025
Financial Express Delhi
Gauging AI impact on growth, job losses
While offering a starting framework, two Niti Aayog reports overlook the potential of AI as a digital public infrastructure good
4 mins
December 13, 2025
Financial Express Delhi
INITIATIVE TO COVER CRITICAL MINERALS, CHIPS India left out of US-led supply chain coalition
A NEW US-LED strategic initiative, Pax Silica, which aims to build a secure supply chain ranging from critical minerals and energy inputs to advanced manufacturing and semiconductors, does not include India.
2 mins
December 13, 2025
Financial Express Delhi
'Global norms ensure domestic crypto investor safety'
The long-term goal of Binance Holdings, the world’s largest crypto exchange in terms of volumes, is to become a collaborative partner for India’s blockchain and digital asset ecosystem, SB Seker, head of the Asia-Pacific region, an interview.
2 mins
December 13, 2025
Financial Express Delhi
Food inflation in negative zone for sixth month
RETAIL FOOD INFLATION remained in the negative zone for the sixth consecutive month in November when it came in at (-) 3.91%, largely driven by base effect and subdued prices of vegetables, cereals, pulses, meat, eggs and spices.
1 min
December 13, 2025
Financial Express Delhi
Think tank Bharat Ki Soch launched
BHARAT KI SOCH, a new think tank on ancient Indian wisdom for contemporary challenges has been launched.
1 min
December 13, 2025
Listen
Translate
Change font size