Independence Day 2025: Zomato Gold at Re 1, free delivery and more deals
Aditya Mangla, chief executive of Zomato's food delivery business, said the reduced delivery threshold is designed to encourage members to explore more restaurants and enjoy everyday meals. 'By lowering the free delivery threshold for our Zomato Gold members, we aim to make online ordering more rewarding—encouraging customers to enjoy everyday meals while discovering more restaurants,' he told the Economic Times. He added that the initiative also provides additional support to restaurant partners during this important time of year.
The announcement comes shortly after Zomato CEO Deepinder Goyal shared his vision for India's economic and strategic self-reliance. In light of recent US tariff hikes, Goyal urged India to embrace its potential and position itself as a global superpower. He emphasised that rather than responding with resentment to external pressures, India should focus on ambition, self-determination, and building strength across defence, technology, and economic sectors.
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Hindustan Times
25 minutes ago
- Hindustan Times
Tax cuts, 2 slabs, tobacco at 40%: Here's what to expect from revamped GST
The Centre has proposed new rates, allowing some relaxations and cutting down taxes on daily-use items and those under 28% tax slab under the revamped Goods and Services Tax (GST) structure, PTI quoted government sources as saying. The development comes just hours after Prime Minister Narendra Modi announced next-generation reforms in the GST by Diwali during his Independence Day speech. PM Modi had announced that as a gift to citizens, next-generation reforms to the GST will be introduced by Diwali.(ANI) Speaking from the ramparts of the Red Fort, PM Modi said it was time to reform GST, which has completed 8 years since its implementation in July 2017, including multiple direct taxes and local duties. Changes likely under renewed GST Two new rates: The central government has proposed two rates, 5 per cent and 18 per cent, under the revamped GST regime, news agency PTI reported, citing sources. Meanwhile, a special 40 per cent rate is likely to be levied on luxury goods, it added. Move from 12% to 5%: Citing government sources, the news agency reported that 99 per cent of the items that currently fall under the 12 per cent GST tax slab will be moved to the 5 per cent bracket under the renewed regime. Shift from 28% to 18%: Furthermore, around 90 per cent of taxable items in the 28 per cent bracket would be moved to the 18 per cent slab. With this renewed GST move, the Centre reportedly expects to give a major boost to consumption, which "will offset revenue loss due to rate rationalisation". ALSO READ | 'Daam kam, dum zyaada': PM Modi's message amid tariff war with US Daily-use items at 5%: Daily-use products and common man items are likely to be taxed at 5 per cent under the revamped GST regime, PTI reported. Tobacco products tax: A 40 per cent GST will be imposed on tobacco products under the renewed regime, with the total incidence of taxation set to remain at the current 88 per cent. Diesel, gasoline, others out of GST: Petroleum products, however, will continue to remain outside the GST regime even under the revamped structure. What PM Modi said on GST In his Independence Day speech, PM Modi said that the central government will introduce next-generation GST reforms by Diwali, noting that discussions over the same have been held with states. 'We have discussed with states and will usher in next-generation GST reforms by Diwali, which will be a Diwali gift for citizens. Taxes on items used by the common man will be reduced substantially. Our MSMEs will benefit hugely. Daily-use items will become cheaper, which will also strengthen our economy,' he said. A Group of Ministers (GoM), including state finance ministers, is already working on rate rationalisation and the pruning of GST slabs. The Prime Minister also said that a task force will be set up to recommend all necessary GST reforms in a time-bound manner for the 21st century. He said that India must also focus on high-quality, affordable products to build a prosperous, self-reliant nation that honours the sacrifices of freedom fighters. The PM emphasised that self-reliance goes beyond imports, exports, or currency exchange. 'It is tied to our capabilities. When self-reliance begins to erode, so does our strength. To preserve, maintain, and enhance our capabilities, self-reliance is essential.' He said that India must focus on strengthening itself, not limiting others, to earn global respect amid the increasing economic self-interest.
Mint
25 minutes ago
- Mint
Govt proposes GST overhaul; 12%, 28% rates to be dropped
New Delhi: In a major overhaul of the goods and services tax (GST) structure, the Central government has proposed to do away with the 12% and 28% tax slabs, which is expected to bring relief on a large number of goods and services and stimulate the economy. In the short term, though, it could mean a revenue gap to the exchequer, a central government official said on Friday. As per the proposal, 99% of the products and services in the 12% slab will be shifted to 5% and most of the items in the current highest slab of 28% will be moved to the 18% slab. The remaining few items in the 28% bracket will be moved to a new 40% slab, which will be an outlier, and cover only a few 'sin goods' such as tobacco products, the official said. The proposal has been sent to a ministerial group and will be placed before the federal indirect tax body, the GST Council, by September or October. As part of the restructure, existing tax anomalies will be corrected and refunds expedited, the official said. Prime Minister Narendra Modi announced the GST restructuring during his Independence Day speech earlier in the day, describing it as a 'double Diwali' for people. The revamp of the GST system will also see the expiry of the GST compensation cess currently levied on items like sports utility vehicles, tobacco and sugary drinks. Given that many of the products and services currently in the 28% slab will move to 18%, it is likely to benefit the automobile sector, too. The official mentioned above declined to comment specifically on individual commodities or services. The consumption stimulus follows a massive income tax relief offered to people in the Union Budget for 2025-26 and a 100-basis points reduction in the repo rate by the Reserve Bank of India since February to help support economic growth. The finance ministry and the GST Council Secretariat did not immediately reply to queries emailed on Friday seeking comments.
NDTV
an hour ago
- NDTV
Centre Proposes Reducing GST Slabs From 4 To 2, May Retain 5%, 18%: Sources
The Centre has proposed that only two slabs for Goods and Services Tax (GST) be retained - 5 per cent and 18 percent - as per sources. Under this proposal, 90 per cent of the items in the 28 per cent will be moved to the 18 per cent slab, while 99 per cent of the items in the 12 per cent slab will be moved to the five per cent slab, the sources added. A special 40 per cent rate will apply to luxury and sin goods, which include tobacco, gutkha and cigarettes. The 40 per cent category will have just 5-7 items, according to the government sources, but will exclude aspirational items like refrigerator, air conditioner and washing machine. Further, petroleum products will continue to remain outside the GST regime even in revamped indirect tax structure. The total incidence of taxation will remain at the current level of 88 per cent. Sources said that the proposed GST revamp is expected to give consumption a big boost, which will offset revenue loss due to rate rationalisation. The proposed GST revamp comes hours after Prime Minister Narendra Modi said during the Independence Day address that GST reforms will be brought for "double Diwali". This was apart from otehr significant announcements like a task force for next-generation reforms, a national deep water exploration mission for self-reliance in energy, and an indigenous "Sudarshan Chakra" defence system by 2035.
