GST News

GoM Backs Two-Slab GST Structure, Proposes 40% Rate on Luxury and Sin Goods

23 August 2025 at 08:53

GoM accepts Centre's proposal for two GST slabs of 5% and 18%, with a new 40% rate on luxury and sin goods; states seek extra cess to protect revenue.

Posted in GST | 1377 Views

GST Rate Cut Proposal Raises Centre-State Tensions Over Revenue

23 August 2025 at 08:47

PM Modi's plan to cut GST rates may cost states Rs 1.8 lakh crore annually, sparking fiscal tensions ahead of Diwali and Bihar elections.

Posted in GST | 1530 Views

GST Fraud Worth Rs 47.32 Crore Unearthed in Thane

23 August 2025 at 08:47

Thane GST officials arrest man in Rs 47.32 crore ITC fraud; incriminating evidence seized, probe underway to identify more suspects.

Posted in GST | 117 Views

Centre Proposes GST Exemption on Life and Health Insurance Premiums

22 August 2025 at 08:58

The Centre has proposed exempting individual life and health insurance policies from 18% GST, a move expected to make insurance more affordable. The GST Council will take the final decision based on the GoM's report.

Posted in GST | 1641 Views

ICAI Releases Updated Handbook on Inspection, Search, Seizure and Arrest under GST

22 August 2025 at 08:40

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.

Posted in GST | 4848 Views

GST Reform 2025: Two-Slab Structure Likely as GoM Clears Proposal

22 August 2025 at 08:35

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.

Posted in GST | 1890 Views

Centre Plans Shift of Goods from 12% to 5% GST Slab, Revenue Loss Pegged at Rs 80,000 Crore

21 August 2025 at 09:07

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.

Posted in GST | 2052 Views

Smartphone Industry Seeks GST Cut to 5% for Boosting Demand and Affordability

21 August 2025 at 08:54

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.

Posted in GST | 300 Views

CBIC Extends GSTR-3B Due Date Filing for July 2025 in Select Maharashtra Districts

21 August 2025 at 08:48

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.

Posted in GST | 3351 Views

GST 2.0 Overhaul: Govt Considers Reducing GST on Insurance from 18% to 5% or Nil

20 August 2025 at 09:17

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.

Posted in GST | 1989 Views