CAclubindia News

GoM Recommends Continuing GST Exemption on Handloom Products and Raw Silk

29 August 2025 at 09:16

The Group of Ministers (GoM) on GST rate rationalisation has recommended that the existing nil GST exemption on handloom products and raw silk should continue, offering much-needed relief to artisans and small weavers across the country, officials sa

Posted in GST | 1428 Views

AIDCF Seeks GST Rate Cut on Cable TV Services from 18% to 5%

29 August 2025 at 09:07

The AIDCF has urged the government to reduce GST on cable TV services from 18% to 5%, citing rising costs, shrinking margins and OTT competition. The move, it says, would protect MSMEs, enhance affordability and support Digital India goals.

Posted in GST | 222 Views

GST Council Likely to End Compensation Cess by October 31, Ahead of Deadline

29 August 2025 at 08:52

The GST Council is likely to end compensation cess collection by October 31, 2025, ahead of the March 2026 deadline, as pandemic-era loan repayments near completion.

Posted in GST | 1728 Views

Government May Revive Anti-Profiteering Mechanism Ahead of GST Rate Cuts

29 August 2025 at 08:42

The government may revive an anti-profiteering mechanism with the upcoming GST rate rationalisation, ensuring businesses pass on tax benefits to consumers.

Posted in GST | 1194 Views

GSTN Simplifies Refund Claims Under ASSORD Category with New Functionality

29 August 2025 at 08:34

GSTN simplifies refund claims under the ASSORD category, allowing taxpayers to claim refunds on negative minor head balances even when the overall demand is zero or positive, with auto-populated fields and guided tooltips for ease.

Posted in GST | 1440 Views

GST Relief on Insurance: GoM Seeks Safeguards to Ensure Benefits Reach Policyholders

29 August 2025 at 08:34

GoM on Life and Health Insurance, chaired by Bihar Deputy CM Samrat Choudhary, has reached an in-principle agreement to reduce GST on individual insurance policies, with states stressing transparency to ensure benefits reach policyholders.

Posted in GST | 1083 Views

GCCI Urges FM for Simplified GST Structure, Industry-Specific Guidance Notes

29 August 2025 at 08:34

The GCCI has urged FM Sitharaman to simplify GST by merging slabs, correcting inverted duty structures, reducing rates on essentials, and publishing sector-specific guidance notes to ease compliance and boost tax transparency.

Posted in GST | 114 Views

CBDT to Finalise Rules for New Income Tax Act, 2025 by Year-End, Digital Data SOP Soon

28 August 2025 at 09:16

CBDT is drafting simplified rules and forms under the Income Tax Act, 2025, set to apply from April 1, 2026. A new SOP for digital data handling during surveys and searches will also be released, alongside the introduction of the 'tax year' concept.

Posted in Income Tax | 2895 Views