Page 5 - Gst

Private companies must invest in India's growth journey, says EAC-PM

A recent article by the Reserve Bank of India (RBI) noted that private sector capital investment is expected to grow by 21.5 per cent to ₹2.67 trillion in 2025-26

Mizoram govt moves to increase GST collection and expand tax base

The Mizoram government will make concerted efforts to enhance Goods & Services (GST) collection and expand the tax base in view of the current GST reforms, an official said on Sunday. He said that the state government decided to collaborate with local councils to increase the number of traders and shopkeepers in state capital Aizawl and other parts of the state paying GST. He said that a meeting of the Mizoram Resource Mobilisation Committee (MRMC), state taxation department and Aizawl City Local Council Association chaired by MRMC vice chairman Haukhuma Hauzel, on September 19, observed that many traders in Aizawl and other parts of the state despite their monthly income exceeding the GST requirement, avoid GST and did not comply with the registration requirement. He said that the state government will take steps to address this issue and strengthen cooperation between the taxation department and local councils in identifying unregistered traders. The state government hopes to ...

National Consumer Helpline launches dedicated category for GST complaints

The Centre has created a dedicated category on National Consumer Helpline's INGRAM portal for registering complaints related to revised GST rates and their redressal. The GST Council has reduced the tax rates on various goods and services with effect from September 22. According to an official statement on Saturday, Department of Consumer Affairs has taken steps to align the National Consumer Helpline (NCH) with the 'Next-Gen GST Reforms 2025' approved during the 56th meeting of the GST Council. "To address the expected consumer queries and complaints on NCH following the implementation of revised GST charges, rates and exemptions effective from September 22, a dedicated category has been enabled on the INGRAM (Integrated Grievance Redressal Mechanism) portal," it added. This category features major sub-categories including automobiles, banking, consumer durables, e-commerce, FMCG and others wherein GST related complaints will be registered. An inaugural training session by Centr

Royal Enfield partners with Flipkart to sell 350 cc motorcycle range

Mid-sized motorcycle maker Royal Enfield on Friday said it has tied up with e-commerce marketplace Flipkart to sell its entire 350cc portfolio. The company's 350cc range - the Bullet 350, Classic 350, Hunter 350, Goan Classic 350 and the new Meteor 350 will be available on Flipkart, starting September 22, 2025, in five cities - Bengaluru, Gurugram, Kolkata, Lucknow and Mumbai, the company said in a statement. The customer journey for delivery and after-sales support will be fulfilled by their preferred Royal Enfield authorised dealer in these cities, it added. Customers opting to purchase their favourite Royal Enfield 350cc motorcycle on Flipkart will also get full GST benefits, applicable from September 22, 2025, the company said. "Partnering with Flipkart allows us to meet today's digital-first customers where they are requiring a simple, convenient way to explore and purchase their motorcycles online," Royal Enfield CEO B Govindarajan said. Currently available in five cities, a

GST rate cuts impact Centre and states equally, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday made it clear that the Centre was not considering any compensation to states for potential revenue loss arising from the latest Goods and Services Tax (GST) rate cuts, stressing that the impact will be shared equally and given the devolution of taxes, while the Centre's share will be even smaller. The opposition was putting pressure on the BJP-led central government, seeking compensation of potential revenue loss from GST rationalisation. Speaking at a BJP-organised discussion on GST in Kolkata, Sitharaman said that during the GST Council meeting, several states, particularly those governed by opposition parties, raised concerns over the proposal to reduce rates, and asked what would happen if they led to revenue losses and how that gap could be filled. Sitharaman said that in response, she had explained that there is "no donor-donee relationship" within the GST Council. "If GST is divided 50/50 between the Centre and the states

GST rate cut: Agri minister to meet farm equipment industry on Sep 19

Agriculture Minister Shivraj Singh Chouhan will hold discussions with industry players on Friday to ensure the smooth implementation of the recent cut in Goods and Services Tax (GST) on tractors and other farm equipment. The government has reduced GST from 12-18 per cent to 5 per cent on various agricultural machinery and equipment effective September 22. This will reduce the retail prices by 7-13 per cent. "Farmers will also gain the dual benefit of subsidy schemes combined with lower taxation, while indigenous agricultural machinery manufacturers will receive a competitive edge under the vision of Atmanirbhar Bharat," an official statement said. The meeting will focus on ensuring the benefits of GST rate cuts are widely passed on to farmers. Representatives of the Tractor and Mechanisation Association (TMA), Agricultural Machinery Manufacturers Association (AMMA), All India Combine Harvester Manufacturers Association (AICMA), Power Tiller Association of India (PTAI), and ...

CBIC notifies changes in annual GSTR-9 form, makes ITC reporting detailed

The CBIC has notified changes to the annual GST return form GSTR-9, making the reporting of Input Tax Credit (ITC) more comprehensive. The Central Board of Indirect Taxes and Customs (CBIC) on September 17 notified changes to the Central GST (CGST) rules, which will come into effect on September 22 and apply to annual returns filed for the 2024-25 fiscal. GST registered Taxpayers with aggregate turnover above Rs 2 crore are required to file GSTR-9. AMRG & Associates Senior Partner Rajat Mohan said the government has revamped the annual GST return (Form GSTR-9). "Revised structure of form makes it far more detailed, with new tables covering reversals under Rules 37, 37A, 38, 42 and 43, re-claims in subsequent years, transitional credits, import-related ITC, and auto-populated mismatches," Mohan said. Professionals and corporates will need to wait for the revised forms and utilities from GSTN before implementing these changes in practice. "Going forward, this measure underscores a

FMCG firms may shift to new GST regime without changing current price tag

The govt could allow discounts to be reflected in the invoice during the transition

GST 2.0 promises relief on many fronts, but unfinished agenda persists

Despite the sweeping rate and slab reductions, several issues remain unresolved and need to be tackled in the next round of reforms to make GST more viable for businesses, say experts

GST cut to save discoms ₹3,000 crore annually on power costs: MNRE

MNRE said reducing GST on renewable devices to 5% from 12% will save discoms Rs 2,000-3,000 crore annually, lower solar project costs and boost clean energy investment

Central govt notifies CGST rates for goods effective September 22

The Union Finance Ministry has notified Central GST (CGST) tax rates for goods, which will be effective from September 22. States will now have to follow suit and notify the State GST (SGST) rates to be levied on goods and services beginning Monday. Under GST, the revenues are shared equally between the Centre and the states. Effective Monday, GST will be a two-tier structure, wherein the majority of goods and services will attract tax of 5 and 18 per cent. A 40 per cent tax will be levied on ultra luxury items, while tobacco and related products will continue to be in the 28 per cent plus Cess category. Currently, Goods and Services Tax (GST) is levied in 4 slabs of 5, 12, 18 and 28 per cent. Besides, a compensation cess is levied on luxury items and demerit or sin goods. With the reduction in rates on most goods, the onus is now on trade and industry to pass on the benefit of these tax rate changes to consumers and align compliance in a timely manner. AMRG & Associates Senior

IRF urges GST cut on helmets to reduce fatalities in road accidents

Geneva-based global road safety body International Road Federation (IRF) on Wednesday demanded a reduction of Goods and Services Tax (GST) on helmets for two-wheeler riders from 18 per cent to nil to encourage vehicle owners to wear helmets and reduce fatalities. IRF in a statement expressed concern at increase in number of road accidents in the country as per latest data compiled by Ministry of Road Transport & Highways (MoRTH) riders of two wheelers had the highest share of road deaths. IRF has written a letter to Prime Minister Narendra Modi to reduce GST on helmets from the present 18 per cent to 0 (zero) per cent, as the two-wheeler riders, being most vulnerable, account for about 31 per cent of deaths due to head injuries. "One of the most effective measures to reduce the two-wheeler accident injuries and fatalities is the use of standard helmets, IRF president emeritus K K Kapila said. Kapila said the helmet usage in India has been found to be low. "It has been noticed that

No GST on insurance a loss for policyholders? What the math shows

Policyholders will pay no GST on health and life premiums from September 22, but insurers lose the ability to claim tax credit on expenses like commissions, rent and software, raising their operating

ICICI Bank gets ₹49 crore GST demand over alleged short payment of tax

ICICI Bank on Wednesday said tax authorities have slapped a demand notice of Rs 49.11 crore on it for alleged short payment of GST. In a regulatory filing, ICICI Bank said, on September 15, 2025, it received an order in appeal under section 107 of the West Bengal Goods and Services Tax Act, 2017, from Additional Commissioner of Revenue (Appeals), West Bengal, raising a demand amounting to Rs 49.11 crore (tax Rs 23.52 crore interest Rs 23.23 crore and penalty Rs 2.35 crore). The aforesaid order in appeal includes an issue relating to GST demand on services provided by banks to customers maintaining specified minimum balances in their accounts. In the past, the bank had received show cause notices (SCNs) and order(s) on the same issue from various tax authorities, it said. While the bank has filed writ petition (s) against the SCNs, since the aggregate/cumulative amount involved in the above crosses the materiality threshold, this matter is being reported, it said. The bank will take

Launch campaigns on GST reforms' benefits, DFS secy tells insurers

DFS Secretary M Nagaraju urged insurers to launch outreach campaigns to publicise GST exemption on life and health policies and ensure benefits reach policyholders

GST reforms to lower tax on coal, reduce power generation cost, says govt

The government on Thursday said that the GST reforms will bring down the overall tax on coal and reduce the cost of power generation. Earlier, coal attracted 5 per cent GST along with a compensation cess of Rs 400 per tonne. The GST Council has recommended the removal of the GST Compensation cess and an increase in the GST rate on coal from 5 per cent to 18 per cent. The new reforms bring down the overall tax on coal grades G6 to G17, which is in the range of Rs 13.40 per tonne to Rs 329.61 per ton. "The average reduction for the power sector is Rs 260 per tonne, which will reduce the cost of generation by 17 to 18 paise/kWh," the coal ministry said in a statement. The reforms will also help in rationalisation of tax burden on coal vis- -vis its pricing. Earlier, a flat rate of Rs 400 per tonne was imposed as GST compensation cess without considering coal quality. This disproportionately affected low-quality and low-priced coal. For example, G-11 non-coking coal, which is the majo

Shoppers hold tight to purses, awaiting new GST rates to take effect

Shradh season adds to caution, slowing retail demand

India must put policy first, politics later to realise its AI Ambition

The country must institutionalise the technology with the sobriety that once anchored Aadhaar and implementation of GST

CBIC chief to meet industry bodies on implementation of GST reforms

To ensure smooth implementation of the GST reform, CBIC chairman Sanjay Kumar Agarwal will be meeting representatives from various sectors, like industry chambers, beginning on Wednesday. The GST council in its 56th meeting last week decided to make Goods and Services Tax (GST) a two-tier structure of 5 and 18 per cent against the current four-slab regime of 5, 12, 18 and 28 per cent, plus a compensation Cess. The new rates will be effective September 22. Sources said the CBIC chief will meet various trade bodies and industries, including Assocham, Ficci, CII and PHDCCI, on September 10 to discuss the GST reforms, rate rationalisation and their implementation. The chairman would also be meeting representatives of the consumer electronics sector, FMCG, common man items, handicrafts, sports goods, toys, miscellaneous sector, and the medical/pharma sector on Wednesday. On September 11, the CBIC chief will also meet representatives of the hospitality, renewable energy, construction ..

GST exemption for flight simulators to help reduce training costs: Govt

The Civil Aviation Ministry on Tuesday said the GST exemption for flight simulators and motion simulators will help airlines and academies in reducing their expenses on training equipment. Also, a uniform Goods and Services Tax (GST) of 5 per cent for all drones provides significant policy certainty and eliminates classification disputes, the ministry said in a release. On September 4, the GST Council decided to rationalise the tax rates into two slabs -- 5 per cent and 18 per cent -- and also reduce the rates on various items. The revised rates will come into force from September 22. Currently, the GST rate is 18 per cent for drones with integrated cameras and 28 per cent for drones classified for personal use. Under the new structure, the ministry said a uniform GST of 5 per cent has been introduced for all drones, regardless of whether the camera is integrated or separate and irrespective of whether they are used for commercial or personal purposes. "Greater clarity for ...