GST News
Insurance Companies Asked to Step Up Outreach After GST Exemption on Life and Health Policies
17 September 2025 at 08:33The Finance Ministry has directed insurance companies to actively promote GST exemption on individual life and health policies. The reform is set to make insurance more affordable, improve financial security and boost insurance penetration across India.
FM Sitharaman: GST Reform Benefits All 140 Crore Indians with Lower Expenses
16 September 2025 at 09:14FM Sitharaman says GST reforms have cut rates, boosted collections to Rs 22 lakh crore and delivered benefits to both 140 crore citizens and State governments.
FMCG Distributors Seek Relief as Aerated Beverages Move to 40% GST
16 September 2025 at 09:03From Sept 22, aerated drinks face a flat 40% GST. Distributors warn of stranded ITC and blocked working capital, urging Finance Ministry intervention.
GST Chennai Busts Rs 11.90 Crore ITC Fraud in Ambur
16 September 2025 at 08:55GST Chennai Outer Commissionerate arrests man from Ambur for masterminding a Rs 11.90 crore fraudulent ITC racket. Multiple dummy firms and bogus invoices were used to illegally claim input tax credit and action is underway against all involved.
FM Sitharaman Calls GST 2.0 a Victory for Every Citizen
16 September 2025 at 08:55Union Finance Minister Nirmala Sitharaman said GST 2.0 is a victory for all citizens, reducing taxes on 99% of goods, resolving classification disputes, and simplifying compliance from September 22, 2025.
Finance Minister Hails GST 2.0: Faster Refunds, Simpler Compliance, Lower Rates
16 September 2025 at 08:53Finance Minister Nirmala Sitharaman said GST 2.0 has removed classification disputes, simplified rates, cut taxes on 300+ items and introduced faster refunds.
Paper Sector Demands 5% GST on Paper & Paperboard to Avoid Inverted Duty Structure
16 September 2025 at 08:53FTPA has urged the government to rationalise GST on paper and paperboard to a uniform 5% slab, citing inverted duty structure and pressure on MSMEs.
CBIC Clarifies No ITC Reversal on Post-Sale Financial or Commercial Credit Notes
16 September 2025 at 08:53CBIC clarified that buyers will not need to reverse ITC on post-sale financial or commercial credit notes, easing GST compliance for manufacturers, dealers and distributors.
GST 2.0: CBIC Promises Quick Refunds to Address Inverted Duty Structure for Fertilizer Industry
16 September 2025 at 08:52CBIC has assured IMMA and FAI that a speedy refund mechanism will be notified under GST 2.0 to ease the burden of the inverted duty structure faced by micronutrient manufacturers.
Fertiliser and Tractor Industry Flag GST Transition Concerns in Meeting with CBIC
15 September 2025 at 08:38Agriculture industry flags ITC blockage and tax inversion after GST cuts on fertilisers; CBIC assures possible relief to ensure benefits reach farmers.
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