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.
States back Centre's GST reform; four tax slabs to be reduced to two - 5% and 18%, with 40% on sin goods. Final decision awaits GST Council.
The Centre plans to shift most goods from the 12% to 5% GST slab, impacting items like food products, mobiles, and tractors. The move may cost Rs 80,000 crore in revenue, partly offset by retaining a 40% rate on sin and luxury goods.
Smartphone makers, led by ICEA, have urged the government to cut GST on mobile phones from 18% to 5% to boost demand, reduce prices, and strengthen India’s manufacturing competitiveness.
CBIC has extended the due date for filing GSTR-3B of July 2025 till August 27, 2025 for taxpayers in Mumbai, Thane, Raigad, and Palghar districts. Know the details of GST compliance relief.
The government is planning to slash GST on insurance premiums from 18% to 5% or even zero under its proposed GST 2.0 reforms, while restructuring slabs into 5%, 18%, and a 40% sin tax for luxury goods like tobacco and alcohol.
Businesses will soon get GST registration within 3 days, with 95% of applications cleared in the new timeframe. Automated refunds for ITC and inverted duty structures will further ease compliance and improve cash flows.
CCS Hyderabad police arrested the Managing Partner of Ambika Steel for alleged GST fraud involving fake invoices and e-way bills. Vehicle numbers were misused to claim ITC without moving goods.
While sin goods like cigarettes and gutka will remain under high tax slabs, the Centre is considering lowering GST on man-made fabrics from 12% to 5% to boost the textile sector.
The Centre plans sweeping GST reforms, restructuring automobile taxes from the current 28% plus cess to a simplified two-slab system. The move aims to resolve classification disputes and make cars more affordable for consumers.
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