Bihar Conclave 2025

GST rate cuts

PM Modi urged NDA MPs to organise ‘Swadeshi Mela’ in their constituencies during the festive season to promote made-in-India products.

The GST Council, led by Finance Minister Nirmala Sitharaman, cut the GST on hotel rooms priced below ₹7,500 to 5 per cent without input tax credit (ITC).

The 56th GST Council reduced the slabs from four to two: 5% for essentials and 18% for non-essentials, while imposing a 40% rate on sin and luxury goods.

India Inc welcomes the GST Council’s sweeping tax cuts, calling them a game-changer for domestic consumption and industrial growth.