The 56th Goods and Services Tax (GST) Council meeting, chaired by Finance Minister Nirmala Sitharaman, announced on Wednesday that GST rates will be reduced to 5 per cent and 18 per cent. Most of the items useful for common man have been moved to 5 per cent slab.

"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..", the Finance Minister said.

Senior Congress leader and Rajya Sabha MP P Chidambaram has welcomed the GST Council's rate rationalisation and rate cuts, while criticising the timing of the reforms as being “8 years too late".

In a post on X late Wednesday, the former Union finance minister said the current GST design and rates should not have been introduced in the first place.

GST rationalisation is likely to boost demand in the auto sector where entry-level buyers have stayed away since the pandemic due to steep rises in automobile prices and subdued income growth.

While small cars are the biggest beneficiaries, larger SUVs are also set to gain as vehicles under four metres will see tax rates slashed from 28 per cent to 18 per cent, and bigger ones will be taxed at 40 per cent.

In a big relief for policyholders, the Goods and Services Tax (GST) on individual health and life insurance premiums has been slashed to zero. The decision was made during the 56th GST Council meeting held on Wednesday and will come into effect from September 22, 2025.

This means the 18 per cent GST that is currently added to your insurance premium will no longer apply. The change is expected to directly reduce the total amount paid by consumers, making insurance more affordable for individuals and families.

A day after her suspension from KCR-led BRS, senior leader K Kavitha on Wednesday announced her resignation from the party and trained her guns against cousin and former minister T Harish Rao.

Kavitha, daughter of party founder and former Telangana Chief Minister K Chandrasekhar Rao(KCR), also announced quitting as Member of the Legislative Council and indicated there was 'pressure' on her father to act against her.

Food delivery and quick commerce company Eternal Limited, which owns Zomato and Blinkit brands, has increased its platform fee on food delivery orders from ₹10 to ₹12, a 20 per cent rise. The hike, effective Tuesday (September 2), comes less than a year after the previous revision.

Zomato, led by CEO Deepinder Goyal, first introduced the fee at ₹2 in August 2023 as part of a strategy to improve margins and move toward profitability.

The National Democratic Alliance (NDA), led by the Bharatiya Janata Party (BJP), has announced a bandh in Bihar on September 4 to protest against alleged abuses directed at Prime Minister Narendra Modi during the Congress' 'Voter Adhikar Yatra' in the state. The BJP Mahila Morcha will lead the demonstration.

Mumbai’s popular restaurant, Bastian Bandra, co-owned by actor Shilpa Shetty, will shut its doors this Thursday (September 4). The closure comes amid allegations of a ₹60 crore fraud involving Shetty and her husband, Raj Kundra.

Shetty took to her Instagram stories to share a note with her followers. “This Thursday marks the end of an era as we bid farewell to one of Mumbai's most iconic destinations - BASTIAN BANDRA.

US President Donald Trump on Tuesday strongly denied social media rumours about his deteriorating health. Some posts had claimed that he was seriously unwell or even dead. Speaking to journalists in the Oval Office, the 79-year-old leader called the claims “fake” and criticised the media for amplifying them.

In the wake of devastation due to floods, Congress leader Rahul Gandhi on Wednesday urged Prime Minister Narendra Modi to immediately announce a special relief package for Punjab, Jammu and Kashmir, Uttarakhand and Himachal Pradesh, as well as accelerate relief and rescue operations.

The Leader of Opposition in the Lok Sabha said, "Modiji, floods have caused massive destruction in Punjab. The situation in Jammu and Kashmir, Himachal Pradesh and Uttarakhand is also extremely worrying."

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