CBIC FAQ-4 clarifies revised MRP rules after GST cuts. Newspaper ads waived; manufacturers must send circulars to dealers and ensure price compliance at retailer level.
Finance Ministry issues corrigenda to GST rate notifications dated Sept 17, 2025, correcting minor errors in Central, Integrated and UT Tax rate entries.
FM Nirmala Sitharaman rules out compensation to states for GST rate cuts, says revenue loss is shared equally. GST 2.0 to inject Rs 2 lakh crore into the economy from September 22.
India’s GST revenues have rebounded after past rate cuts, with the GST-to-GDP ratio stabilising at 6.7%. Economists say GST 2.0 may cause a short dip but boost compliance and growth in the medium term.
FM Nirmala Sitharaman says new GST reforms will inject ₹2 lakh crore into the economy, cut rates, ease compliance, and boost Bengal’s handicrafts, tea, jute and garment sectors ahead of Durga Puja.
Centre warns traders to pass on GST 2.0 rate cut benefits to customers or face penalty. Govt may revive anti-profiteering provisions under Section 171.
CGST Ludhiana unearthed a fake GST invoice racket worth Rs 455 crore, arresting a father-son duo for availing bogus ITC of Rs 69.41 crore. Investigation continues.
ICAI has rescheduled CA Final and Intermediate exams in Kathmandu, Nepal. Check revised October 2025 dates, timings, venue and key details for candidates.
ICAI announces relaxation for non-corporate entities and LLPs, making compliance with new financial statement guidance notes voluntary for FY 2024-25. Accounting Standards remain unaffected.
CBIC issued FAQs-3 on September 18, 2025, clarifying new GST notifications released a day earlier. The update explains revised CGST rates, exemptions, handicraft tax treatment and compensation cess changes, effective from September 22, 2025.
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