Tax Guru

GST IMS Kills Auto ITC in GSTR-3B: New Compliance Rules

The Invoice Management System (IMS) ends automatic ITC population in GSTR-3B from Oct 2025. Taxpayers must Accept, Reject, or Pend B2B invoices via the GST ...
The Financial Express

GST Jargon Simplified: ITC, Special Rate, Compensation Cess, and all about the two-tier slabs

The special rate will apply only to a few selected items, mainly sin goods and some luxury products. (Image: Canva) India’s tax system just got one of its biggest shake-ups since new GST rates were ...
India TV

ITC, HUL, among other FMCG stocks in action post GST rate change - Check details

Fast-moving consumer goods (FMCGs) are in action today as the GST Council has approved a two-slab structure, which will result in the reduction of a wide range of FMCG products. The new GST slabs will ...
Tax Guru

GST ITC Eligibility: Can Buyers Be Denied Credit if Supplier Defaults on Tax?

Section 16(2)(c) of the CGST Act makes Input Tax Credit (ITC) conditional on the supplier actually paying the tax to the government. Judicial precedents from High Courts emphasize that a buyer’s bona ...
Business Today

Cancer, rare disease medicines exempted from GST, other drugs at 5%; check FAQs

Finance Minister Nirmala Sitharaman announced that GST on 33 life-saving drugs and medicines has been reduced from 12% to zero. “Three life-saving drugs and medicines used for the treatment of cancer, ...
The Financial Express

GST Council set to simplify tax rates, but Deloitte survey flags urgent reforms businesses want

All eyes are on the 56th GST council meeting that is underway in Delhi today. The rate restructure is no doubt the most discussed topic. Apart from that, the industry sees GST 2.0 as a chance to ...
Mint

GST cut may revive hotel stocks. Should investors check in now?

Mumbai: Hospitality stocks have had a checkered 2025. Most hotel stocks have eroded investor wealth, lagging their 52-week highs, as weak demand and earnings disappointments clipped growth. Shares of ...
The Free Press Journal

From Haircuts To Yoga Classes, GST Cut Promises Relief — But Will Prices Actually Drop?

New Delhi: Starting September 22, GST on services like salons, barbers, gyms, fitness centers, and yoga studios will be reduced from 18 percent with Input Tax Credit (ITC) to 5 percent without ITC.
Mint

GST reform: Govt releases fact sheet on rate cut for bikes & cars, export push, and job creation — check details

The government today released a fact sheet outlining the benefits on the rate rationalisation in the auto sector. From cheaper cars, export competitiveness, job creation, and cleaner mobility — here's ...
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Cheaper to check-in: 5% GST for hotel rooms under Rs 7,500

MUMBAI: Guests of budget and mid-market hotels will benefit the most from the government's decision to reduce GST on rooms costing up to Rs 7,500. The GST has been lowered from 12% with input tax ...
Business Today

GST new rates from cars to buses: Check FAQs explain what gets cheaper and what doesn’t

In a major push to make personal mobility and farm equipment more affordable, the GST Council on Wednesday approved steep tax cuts on vehicles and machinery. The announcement was made by Union Finance ...