Prime Minister Narendra Modi has asked NDA MPs to promote GST 2.0 reforms and the Make in India campaign by engaging traders and citizens.
The Income Tax Act, 1961 will be repealed from April 1, 2026, under the new Income Tax Act, 2025. Correction statements for FY 2018-19 to 2023-24 must be filed by March 31, 2026, or they will be time-barred.
The Ministry of Consumer Affairs has permitted manufacturers, packers, and importers to revise MRP on unsold stock due to GST rate changes until December 31, 2025. Original MRP must remain visible, with revisions limited to tax changes.
Finance Minister Nirmala Sitharaman to personally monitor GST rate cuts, urges citizens to report non-compliance, expects festive demand to offset Rs 48,000 cr loss.
Bankers say GST 2.0 rate cuts on 396 items will boost consumption, credit growth, and economic activity. The reform, effective Sept 22, is set to lower inflation and strengthen India’s growth.
Finance Minister Nirmala Sitharaman says GST rate cuts won’t hurt public finances. Higher consumption will cover the Rs 48,000 crore shortfall and boost GDP growth.
FM Sitharaman says GST cuts on 375+ items will spark enduring demand, urging India Inc to shed excuses and step up investments.
Greater Noida police arrested a former employee for generating fake GST invoices worth Rs 10 crore to fraudulently claim Rs 1.8 crore ITC. Laptop, phones and documents seized.
FM Nirmala Sitharaman says GST overhaul will simplify compliance, speed up refunds, and reduce household costs. From Sept 22, 400 items including cars, soaps, and insurance to get cheaper.
FM Nirmala Sitharaman urges companies to pass on GST rate cut benefits to consumers, as GST 2.0 takes effect on Sept 22. CBIC warns industries to ensure compliance; relief package for exporters planned.
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