Government to impose an additional levy on tobacco and cigarettes to maintain current tax incidence under GST 2.0; ultra-luxury cars to face only 40% tax.
GST 2.0 simplifies tax slabs to 5% and 18% to spur demand, but online food delivery via Zomato, Swiggy may cost Rs 2-2.6 more per order as delivery fees attract 18% GST.
FM Nirmala Sitharaman says 99% of goods now fall under 0%, 5% or 18% GST slabs, with only 1% taxed as sin goods at 40%. New rates effective from Sept 22, 2025.
CEA V Anantha Nageswaran says GST reforms will boost consumption and it’s premature to assume states will lose revenue. New GST slabs of 5%, 18% and 40% aim to simplify India’s tax regime
Despite GST cuts on 400+ items, broadcasters face 18% GST on DTH, IPTV & digital subscriptions. Industry bodies like AIDCF seek 5% relief to ease costs, protect jobs, and support Digital India.
Finance Minister Nirmala Sitharaman thanks states for supporting GST 3.0 reforms. New two-slab GST rates of 5% and 18% take effect from September 22, 2025, reducing prices on essentials and consumer goods.
ICAI has hosted the Multipurpose Empanelment Form (MEF) 2025-26 at meficai.org. Members can apply online by September 26, 2025, for empanelment with RBI, NABARD and other authorities.
The Income Tax Department has announced the release of Excel utilities for filing updated returns in ITR-5, ITR-6, and ITR-7 for the Assessment Years 2021-22 and 2022-23
The Income Tax Department has released the offline utility for ITR-5 for AY 2025-26, enabling firms, LLPs, AOPs, and trusts to file returns easily.
Union Minister Bhupender Yadav hails Next Gen GST Reforms as “GST Reforms for a Green India,” boosting renewable energy, waste management, and sustainability.
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