GST 2.0 reforms effective Oct 1, 2025: streamlined rates (5%, 18%), mandatory IMS for ITC verification, GSTR-3B locking, and new credit note reversal ...
GSTN clarifies that the Invoice Management System (IMS) implementation does not change GSTR-2B auto-population or its timing. Credit Note handling offers new flexibility for ...
A recent GST circular clarifies trade discounts and credit notes, easing manufacturers' tax burden but creating cash-flow pressure for FMCG distributors due to accumulated input tax credit.
The Goods and Services Tax (GST) Council, after its 56th meeting on 4 September 2025, announced a GST exemption on all health and life insurance premiums as part of the central government's indirect ...
Mumbai: Restaurants and hotel chains expect a boost in their revenues as taxes are set to decrease on hotel rooms priced below ₹7,500 and on crucial inputs such as processed food and utensils. However ...
Insurers face higher operating costs, and distributors face lower earnings, highlighting the unintended consequences of a ...
The Goods and Services Tax Network (GSTN) has implemented multiple changes in Table 12 of GSTR-1 return starting from the ...
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