CBIC notifies Customs (Finalisation of Provisional Assessment) Regulations, 2025, introducing strict timelines, compliance rules, and streamlined procedures for duty finalisation.
Agriculture industry flags ITC blockage and tax inversion after GST cuts on fertilisers; CBIC assures possible relief to ensure benefits reach farmers.
CBIC clarifies GST on post-sale discounts: routine trade discounts won't attract GST, while dealer-linked promotional services under agreements will be taxable...
ED probe into a multi-crore fake ITC racket reveals MNC beneficiaries, bogus invoicing, and GST misuse across states; assets seized and probe ongoing.
GST rate cuts deliver a boost to automobiles and consumer durables, with analysts expecting revived demand, lower prices and stronger festive season sales.
CBIC clarifies GST on post-sale discounts: routine trade discounts to dealers won’t attract GST, but promotional service-linked discounts will. The move reduces disputes, eases compliance, and aligns GST rules with commercial practices.
The Ministry of Corporate Affairs has expanded the scope of Fast Track Mergers under Section 233 of the Companies Act, 2013.
Top food industry leaders including Amul, Britannia, Coca-Cola, PepsiCo and ITC pledge to pass on GST benefits to consumers under Next-Gen GST reforms.
ED raids across five states in Rs 650 crore fake Input Tax Credit scam. Firms accused of bogus GST invoices to launder money. Crackdown follows earlier Rs 750 crore ITC fraud probe linked to shell companies.
The 56th GST Council meeting has reformed coal taxation by removing the Rs 400/ton GST compensation cess and raising GST from 5% to 18%.
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