Clarifications for retailers on new GST rates from Sept 22, 2025: applying revised rates to stock, ITC reversal for exempt supplies, and use of accumulated ...
Starting September 22, 2025, individual health and life insurance premiums are GST-exempt, but insurers have lost their ITC ...
GST circular 251 clarifies input tax credit rules, but distributors face cash flow issues due to excess ITC balances.
GST 2.0 introduces a simplified tax structure, reduces rates on essentials, and supports MSMEs, boosting economic growth while improving affordability for consumers and businesses alike ...
For other services such as beauty and physical well-being services, the Ministry said the GST rate of 5 per cent without ITC ...
Ecommerce sellers in categories like apparel and handicrafts are bracing for a short-term cash crunch due to higher input tax paid on unsold stock before GST rates were cut. With new lower GST rates, ...
According to a fresh set of FAQs from the Central Board of Indirect Taxes and Customs (CBIC), insurance companies will not be eligible for input tax credit (ITC) following the complete exemption of GS ...
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