LIC CEO announced that the insurer has fully passed on the GST 2.0 exemption benefits to policyholders, making life insurance more affordable.
India’s automobile retail industry achieved a record 40.5% YoY growth in October 2025, driven by GST 2.0 tax cuts, festive demand, and rural recovery.
Insurance agents have approached the Finance Ministry and GST Council after insurers reduced commissions due to loss of input tax credit under GST 2.0. Officials say the matter is a commercial one between insurers and agents, not a GST policy issue.
For the first time, GST officials monitored horse sales at Rajasthan's Pushkar Fair, applying 5% GST on transactions above Rs 40 lakh. Authorities said no horse has sold beyond Rs 10 lakh despite viral social media claims.
Two women traders in Lucknow have been booked for evading Rs 2.56 crore in GST by creating a fake firm, Gorupan Enterprises. The State Tax Department discovered the firm's address and contact details to be bogus.
GST collections slowed to 4.6% in October as 20 states saw declines, reflecting transition effects from the new GST 2.0 rate reform introduced in September.
CBIC clarifies that businesses storing goods in warehouses located in other States must obtain separate GST registration. The clarification outlines GST liability, invoicing, place of supply and compliance requirements under the CGST and IGST Acts.
The CBI has booked a CGST Assistant Commissioner from Jaipur for allegedly possessing assets worth Rs 2.54 crore, 100% beyond known income sources.
India's gross GST revenue rose 4.6% year-on-year to Rs 1.96 lakh crore in October 2025, driven by strong import collections and higher compliance. Cumulative FY26 GST collections up 9% to Rs 13.89 lakh crore.
CBIC dated Oct 31, 2025, has introduced new Rules 9A and 14A under the CGST Rules, enabling electronic auto-approval of GST registration and simplified registration for small taxpayers with monthly tax liability below Rs 2.5 lakh, effective Nov 1, 2025.
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