GST News

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 | 420 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 | 447 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 | 366 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 | 2823 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 | 390 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 | 3462 Views

GST 2.0: CBIC Promises Quick Refunds to Address Inverted Duty Structure for Fertilizer Industry

16 September 2025 at 08:52

CBIC 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.

Posted in GST | 321 Views

Fertiliser and Tractor Industry Flag GST Transition Concerns in Meeting with CBIC

15 September 2025 at 08:38

Agriculture industry flags ITC blockage and tax inversion after GST cuts on fertilisers; CBIC assures possible relief to ensure benefits reach farmers.

Posted in GST | 198 Views

CBIC Issues Clarification on GST Treatment of Post-Sale Discounts

15 September 2025 at 08:36

CBIC clarifies GST on post-sale discounts: routine trade discounts won't attract GST, while dealer-linked promotional services under agreements will be taxable...

Posted in GST | 5988 Views

ED Uncovers Multi-Crore Fake ITC Scam, Big MNCs Under Lens

15 September 2025 at 08:32

ED probe into a multi-crore fake ITC racket reveals MNC beneficiaries, bogus invoicing, and GST misuse across states; assets seized and probe ongoing.

Posted in GST | 189 Views