10 Dec 2025 05:59 PM
New

GST Rate Reduction Simplify Tax Structure Across Sectors

Source: https://taxguru.in/goods-and-service-tax/gst-rate-reduction-simplify-tax-structure-sectors.html

The Government of India, following the recommendations of the 56th GST Council meeting on September 3, 2025, has rationalized and reduced GST rates on multiple goods and services—cutting rates from 28% to 18%, 18% to 12% or 5%, and 12% to 5% or Nil. This reduction stems from the recommendations of two Groups of Ministers (GoMs): one on Rate Rationalisation, constituted in 2021, aimed at simplifying GST slabs, correcting inverted duty structures, reducing classification disputes, and enhancing revenue; and another on Life and Health Insurance, formed in 2024, to assess GST on insurance products.

10 Dec 2025 05:47 PM
New

Government Mandates Retail Sale Price Display on Pan Masala Packs

Source: https://taxguru.in/goods-and-service-tax/government-mandates-retail-sale-price-rsp-display-pan-masala-packs.html

The Ministry of Consumer Affairs has issued the Legal Metrology (Packaged Commodities) Second (Amendment) Rules, 2025, mandating that all pan masala packs, irrespective of size or weight, must display the Retail Sale Price (RSP) and comply with all other declarations under the Legal Metrology (Packaged Commodities) Rules, 2011.

10 Dec 2025 06:23 PM
New

Empanelment of CAs/Cost Accountants for Special GST Audit

Source: https://taxguru.in/goods-and-service-tax/empanelment-cas-cost-accountants-special-gst-audit.html

The CGST & Central Excise Bhiwandi Commissionerate has invited online Expressions of Interest (EOIs) from Chartered Accountants, CA firms, Cost Accountants and Cost Accountant firms for empanelment to conduct Special Audits under Section 66 of the CGST Act, 2017.

10 Dec 2025 05:51 PM

Most GST Compensation Dues Cleared, Only Two States Pending: Govt

Source: https://taxguru.in/goods-and-service-tax/gst-compensation-dues-cleared-states-pending-govt.html

The Minister of State for Finance clarified in Rajya Sabha on 2nd December 2025 that almost all GST compensation dues have been paid to States/UTs for FY 2017-18 to 2021-22, except Arunachal Pradesh and Manipur, pending submission of audited AG certificates.

10 Dec 2025 05:55 PM

GST Council Introduces Provisional Refunds for Inverted Duty Structure: MOF

Source: https://taxguru.in/goods-and-service-tax/gst-council-introduces-provisional-refunds-inverted-duty-structure-mof.html

The Minister of Finance addressed concerns regarding challenges from the Inverted Duty Structure (IDS) under GST, highlighting that GST rates are prescribed by the GST Council, which in its 56th meeting on 3rd September 2025 recommended rationalizing the existing 4-tiered structure into a simplified 2-rate system—18% standard and 5% merit rate—with a 40% de-merit rate for select goods and services. While IDS has historically caused issues with blocked Input Tax Credit (ITC), the Council clarified that no ITC blockage is prescribed under current law.

10 Dec 2025 06:06 PM

CBIC Monitors GST Rate Reduction to Ensure Consumer Benefits

Source: https://taxguru.in/goods-and-service-tax/monitoring-gst-reduction-benefits-cbic.html

Following the GST rate rationalization recommended in the 56th GST Council meeting on September 3, 2025, the Central Board of Indirect Taxes and Customs (CBIC) has been authorized to monitor the pass-through of GST benefits to end consumers. CBIC tracks prices of essential commodities, including packaged foods and medicines, before and after September 22, 2025, to ensure reductions are reflected in retail prices.

10 Dec 2025 05:44 PM

ADB raises India FY26 GDP forecast to 7.2%

Source: https://www.livemint.com/economy/adb-raises-india-fy26-gdp-forecast-to-72-11765347616650.html

The improved forecast for India follows a stronger-than-expected 8.2% expansion in the September quarter.

10 Dec 2025 05:37 PM

Are you adequately insured? Why most families don’t have enough cover until it’s too late

Source: https://www.livemint.com/money/personal-finance/term-insurance-adequate-cover-family-financial-planning-11765113370344.html

A term insurance plan offers more than a sense of security, it creates a financial cushion that protects your family in case of your absence. With the recent goods and services tax (GST) rate overhaul making term insurance products 18% cheaper, many people focus on simply "having" a policy. Far fewer stop to assess whether their life cover is actually adequate for their family’s needs.

10 Dec 2025 05:40 PM

Retail inflation likely inched up to 0.8% in November: Mint poll

Source: https://www.livemint.com/economy/retail-inflation-0-8-november-mint-poll-rbi-core-inflation-repo-rate-gdp-food-deflation-gst-cuts-11765347567445.html

India’s retail inflation likely inched up to 0.8% in November from a record low of 0.25% in October, largely driven by fading base effects, a Mint poll of 20 economists showed. While inflation is expected to have bottomed-out in October, prices pressures are expected to remain weak both in foods (due to a good monsoon and harvest) and non-foods (due to GST cuts and possibly weak demand).

09 Dec 2025 06:29 PM

With such heavy supply, you can’t expect a runway market, says Axis Mutual Fund’s Ashish Gupta

Source: https://www.livemint.com/market/stock-market-news/heavy-supply-runway-market-axis-mutual-fund-ashish-gupta-fii-economy-ai-trade-gst-export-heavy-sectors-ipo-11765084932245.html

India is in a better position, and 2026 appears to be an improvement over last year, according to Ashish Gupta, chief investment officer (CIO), Axis Mutual Fund. “But with such heavy supply, you can’t expect a runaway market," he said.