GST News

Insurance Premiums at 0% GST: Industry Awaits Clarity on ITC

17 September 2025 at 08:34

Experts caution that the benefit depends on whether premiums are nil-rated or exempt, a distinction that could decide if policyholders save or face higher costs.

Posted in GST | 138 Views

FHRAI Urges GST Council to Restore ITC, Warns of Cost Burden on Hotels

17 September 2025 at 08:34

FHRAI has urged the GST Council to restore input tax credit (ITC) after its withdrawal on hotel rooms below Rs 7,500. The body warns that rising costs could strain mid-scale hotels, deter reinvestment, and weaken India’s global competitiveness.

Posted in GST | 108 Views

Insurance Companies Asked to Step Up Outreach After GST Exemption on Life and Health Policies

17 September 2025 at 08:33

The 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.

Posted in GST | 117 Views

FM Sitharaman: GST Reform Benefits All 140 Crore Indians with Lower Expenses

16 September 2025 at 09:14

FM 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.

Posted in GST | 1998 Views

FMCG Distributors Seek Relief as Aerated Beverages Move to 40% GST

16 September 2025 at 09:03

From Sept 22, aerated drinks face a flat 40% GST. Distributors warn of stranded ITC and blocked working capital, urging Finance Ministry intervention.

Posted in GST | 390 Views

GST Chennai Busts Rs 11.90 Crore ITC Fraud in Ambur

16 September 2025 at 08:55

GST 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.

Posted in GST | 420 Views

FM Sitharaman Calls GST 2.0 a Victory for Every Citizen

16 September 2025 at 08:55

Union 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.

Posted in GST | 363 Views

Finance Minister Hails GST 2.0: Faster Refunds, Simpler Compliance, Lower Rates

16 September 2025 at 08:53

Finance Minister Nirmala Sitharaman said GST 2.0 has removed classification disputes, simplified rates, cut taxes on 300+ items and introduced faster refunds.

Posted in GST | 2811 Views

Paper Sector Demands 5% GST on Paper & Paperboard to Avoid Inverted Duty Structure

16 September 2025 at 08:53

FTPA has urged the government to rationalise GST on paper and paperboard to a uniform 5% slab, citing inverted duty structure and pressure on MSMEs.

Posted in GST | 363 Views

CBIC Clarifies No ITC Reversal on Post-Sale Financial or Commercial Credit Notes

16 September 2025 at 08:53

CBIC 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.

Posted in GST | 3153 Views