GST News

GST Rate Cuts to Cost Exchequer Rs 1.43 Lakh Crore, US Tariffs Threaten Growth

23 August 2025 at 09:37

HSBC warns that GST rate revisions could cost India Rs 1.43 lakh crore, while US tariffs of 25-50% may lower GDP growth by up to 70 basis points. States face fiscal strain under FRBM limits.

Posted in GST | 375 Views

GST Exemption on Health, Life Insurance Proposed; Experts Flag ITC Concerns

23 August 2025 at 09:28

GoM proposes GST exemption on health & life insurance premiums. Experts warn of input tax credit challenges; final call with GST Council.

Posted in GST | 1383 Views

GST Burden on Private Security Firms Unjust, Says CAPSI in Letter to PM Modi

23 August 2025 at 09:17

CAPSI urges PM Modi to review 18% GST on private security services, citing RCM disparity that impacts MSMEs and over 8.5 million workers.

Posted in GST | 1080 Views

56th GST Council Meeting Scheduled for 3rd to 4th September 2025

23 August 2025 at 09:06

GST Council to hold its 56th meeting on Sept 3-4, 2025, in New Delhi. Key tax policy discussions expected; agenda details to follow.

Posted in GST | 963 Views

GoM Backs Two-Slab GST Structure, Proposes 40% Rate on Luxury and Sin Goods

23 August 2025 at 08:53

GoM accepts Centre's proposal for two GST slabs of 5% and 18%, with a new 40% rate on luxury and sin goods; states seek extra cess to protect revenue.

Posted in GST | 1371 Views

GST Rate Cut Proposal Raises Centre-State Tensions Over Revenue

23 August 2025 at 08:47

PM Modi's plan to cut GST rates may cost states Rs 1.8 lakh crore annually, sparking fiscal tensions ahead of Diwali and Bihar elections.

Posted in GST | 1509 Views

GST Fraud Worth Rs 47.32 Crore Unearthed in Thane

23 August 2025 at 08:47

Thane GST officials arrest man in Rs 47.32 crore ITC fraud; incriminating evidence seized, probe underway to identify more suspects.

Posted in GST | 114 Views

Centre Proposes GST Exemption on Life and Health Insurance Premiums

22 August 2025 at 08:58

The Centre has proposed exempting individual life and health insurance policies from 18% GST, a move expected to make insurance more affordable. The GST Council will take the final decision based on the GoM's report.

Posted in GST | 1617 Views

ICAI Releases Updated Handbook on Inspection, Search, Seizure and Arrest under GST

22 August 2025 at 08:40

ICAI releases the revised Handbook on Inspection, Search, Seizure, and Arrest under GST (July 2025), offering detailed guidance, case laws and updated procedures to help professionals and taxpayers navigate GST enforcement and compliance.

Posted in GST | 4782 Views