New GST rates for bikes: The GST Council has approved revised tax slabs, effective September 22, reducing GST on two-wheelers below 350cc to 18%, benefiting most of the Indian motorcycle market. Larger motorcycles above 350cc will face a higher 40% "Sin tax." Similarly, smaller cars will be taxed at 18%, while larger vehicles and racing cars will be levied at 40%.
Mahindra & Mahindra shares surged 7.8% as GST overhaul cuts taxes on SUVs, small cars, and tractors, boosting demand. Analysts highlight M&M as a key beneficiary, with broader auto sector gains expected. Lower rates and uniform duties support mass-market recovery and festive-season sales.
New GST Rates: The Goods and Services Tax rates are set for a revamp. The GST Council has announced revisions impacting various goods and services. These changes aim to simplify the tax structure. Many food items will see a tax reduction. The revised rates will be effective from September 22. However, gutkha, tobacco, and cigarettes are exceptions.
Tata Steel shares experienced a slight dip of 0.50% to Rs 167 on Thursday, following a strong 6% surge. This pullback occurs amidst ongoing optimism in the metal sector, fueled by anticipated firmer global steel prices due to China's planned production cuts and India's tariff protections.
