Big GST Rate Cut by Diwali – What It Means for You! | CA Rachana Ranade

"if I'm talking about discretionary spending uh something like AC's TV fridge of course we are not going to purchase that daily but maybe once in 2 3 years four years whatever for them as well so currently majority of them be it ACs TV fridges all these majority of them fall into the 28% category and it is expected that they will also shift down to the 18% category"

"I've been waiting for it for such a long time. uh even today I I've said this in so many of my previous videos as well that overall uh you know the penetration of uh insurance in India is is not that great. If we were to boost this we have to give some additional incentives and if if GST is cut down to 0% I'm sure it will have a positive impact. Uh so if that be so a big thumbs up uh would would really love to hear that that GST on insurance policies has been brought down to 0%."

"Such games were taxed as see this is like gambling only. No. So whatever money people would have earned from this that flat goes as 30% taxation. Correct. online betting this that now this will be a direct cut for the revenue for the government but I'm still happy government has taken such a bold step in the benefit of people and they have said that we are going to you know just not we are not going to allow this uh as I mentioned Lok Sabha Raja Sabha both both places it has been passed will now go for president's approval and ultimately will this bill will get converted into an act"

"It's going to be his last speech and that is the reason why everyone is going to focus on the tone of his speech. Uh what all things is he going to say? Is he going to talk about interest rate cuts or not? Because simple if US talks about interest rate cuts ideally other central banks would also want to align with the interest rate cuts correct otherwise there are uh mismatches in the currency rates"

"A lot of people are saying that he may hint around a 25 basis point rate cut in the month of September."

"Now they are saying that we will stop weekly expiry. I'm sure this is going to remove a lot of liquidity from the market. Uh I would not appreciate this move. uh I'm sure the brokers will be really really hurt with this. uh a lot of revenue for the brokers also gets generated uh from from such uh weekly contracts as well. Overall somewhere liquidity could drive from the market is is also what what I sense."

"if we stay above this tomorrow we should head towards 25700"

"if we sign up with deals like there'll be no uh barriers in supply of rare earth uh minerals and all that uh something like an auto will be positively impacted but again too early to tell which sectors will get impacted honestly."