Business news · Policy & Regulation · 05 Oct 2026
IN Financial Services Consumer Durables
The 57th meeting of the GST Council has been rescheduled to Thursday, October 8, in New Delhi. Proposals on the agenda include withdrawing the IGST exemption that banks and nominated agencies have on imports of gold, silver and platinum (the rate is 3%), letting employers claim input tax credit on employee insurance premiums that carry 18% GST, raising the threshold for criminal proceedings from Rs 1 crore to Rs 5 crore, and requiring a court's authorisation for arrests.
The bullion change lands on banks that import gold for jewellers and on jewellery makers, who would see tax paid earlier in the chain and more working capital tied up until credit is claimed; the end price to buyers already includes 3% GST, so the effect is on cash flow more than on the rate. Input tax credit on staff insurance would lower the net cost of group health and life cover for employers, which touches the group business of listed insurers. The prosecution changes reduce legal risk for smaller taxpayers. These are agenda items, not decisions.
Reported by Business Today ↗ on 05 Oct 2026.
NSE stocks, from the last close on or before 05 Oct 2026 to the close on 15 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Financial Services | 125 | +0.3% | 67 of 125 | +0.9 pts |
| Consumer Durables | 46 | +0.2% | 24 of 46 | +0.8 pts |
| All tracked stocks | 804 | -0.7% | 341 of 804 | — |
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