- 16 Sep 2025 05:30 PM
- New
ICAI’s Suggestions on Practical Issues in GST
Source: https://taxguru.in/goods-and-service-tax/icais-suggestions-practical-issues-gst.html
The Institute of Chartered Accountants of India (ICAI), a statutory body established by an Act of Parliament, has identified and proposed solutions for practical issues faced by taxpayers under the Goods and Services Tax (GST) regime. The GST & Indirect Taxes Committee of ICAI gathered feedback from members nationwide to address challenges in areas like registration, refunds, input tax credit, and adjudication.
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- 16 Sep 2025 05:35 PM
- New
ICAI: Suggestions To Enhance Efficacy of GST Adjudication
Source: https://taxguru.in/goods-and-service-tax/icai-suggestions-enhance-efficacy-gst-adjudication.html
The Institute of Chartered Accountants of India (ICAI) has identified several issues in the GST adjudication process. These include the last-minute issuance of show-cause notices (SCNs) and a lack of clear, specific charges against taxpayers. Many SCNs are poorly drafted, with vague allegations and templated language, often failing to justify the extended period for tax evasion claims.
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- 16 Sep 2025 05:38 PM
- New
ICAI Requests Clarification on GST Appeal Jurisdiction
Source: https://taxguru.in/goods-and-service-tax/icai-requests-clarification-on-gst-appeal-jurisdiction.html
This letter from the Institute of Chartered Accountants of India (ICAI) to the Central Board of Indirect Taxes & Customs (CBIC) outlines concerns with a recent circular regarding the jurisdiction for appeals and revisions of orders from Common Adjudicating Authorities (CAAs). The ICAI points out that while a notification granted all-India jurisdiction to certain Joint and Additional Commissioners to adjudicate show cause notices from the DGGI, a subsequent circular attempts to extend the same all-India jurisdiction to appellate authorities.
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- 09 Sep 2025 06:27 PM
Compensation cess accumulated in auto cos books to lapse on Sep 22: Official
New Delhi, Sep 9 (PTI) An estimated ₹2,500 crore accumulated compensation cess on the books of auto companies will lapse on September 22, when the new GST rates come into effect, an official said.
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- 09 Sep 2025 06:24 PM
Govt allows revised MRP stickers on unsold stock after GST rate changes
Manufacturers and importers can adjust maximum retail prices to reflect new GST rates until 31 December, easing transition and reducing packaging waste.
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- 09 Sep 2025 06:18 PM
Festive bonanza for car buyers: Kia, MG Motor among automakers announcing discounts after GST rate cuts
Kia India and MG Motor have reduced vehicle prices ahead of the festive season, effective from September 22, 2025, joining other carmakers such as Mahindra & Mahindra, Tata Motors, and the luxury brand BMW.
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- 09 Sep 2025 06:32 PM
Major GST Reductions to Boost Cooperatives, Farmers & Rural Enterprises
The central government has announced significant GST rate reductions across sectors that directly impact cooperatives, farmers, and rural enterprises. These reforms include GST exemptions on milk and paneer and a reduction to 5% on butter and ghee, directly benefiting over 10 crore dairy farmers. The tax on various cooperative-processed foods like cheese, pasta, jams, and juices has also been reduced to 5%, which is intended to lower household expenses and stimulate demand. Additionally, GST on packing materials like paper, cases, and crates is now 5%, which eases logistics costs. In agriculture, tractors under 1800 cc and their components have seen GST reduced to 5%, as have key fertilizer inputs and twelve bio-pesticides. This aims to make farm equipment and inputs more affordable, promoting mechanization and sustainable farming practices. Commercial trucks and delivery vans now have an 18% GST rate, which is expected to reduce logistics costs and improve export competitiveness.
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- 09 Sep 2025 06:12 PM
GST reforms were long overdue, there were too many rates, says Jamshyd Godrej
Jamshyd Godrej, Managing Director of Godrej & Boyce, has said that the Goods and Services Tax (GST) was long overdue and underlined the need for resilience in the face of global disruptions.
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- 09 Sep 2025 06:21 PM
GST reform needs more than rate cuts. The ball is in the states' court
The latest rationalisation of GST slabs has sent a quiet but significant signal: tax rates are no longer untouchable. In the past, governments have hesitated to fiddle with tax rates much, on the premise that a bird in the hand is worth two in the bush.
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- 09 Sep 2025 06:37 PM
New GST rates will prove to be a boon for farmers
Source: https://taxguru.in/goods-and-service-tax/gst-rates-prove-boon-farmers.html
Union Agriculture and Rural Development Minister Shri Shivraj Singh Chouhan has announced that recent GST rate revisions will positively impact the agriculture sector, particularly for small and medium-scale farmers. During a press conference in Bhopal, he stated that reduced GST on agricultural equipment like tractors, harvesters, and power tillers from 18% to 5% will lower production costs and increase farmers’ profits. Specific examples show savings ranging from thousands to over a lakh rupees on various machinery. The GST reduction on bio-pesticides and micro-nutrients is intended to promote a shift from chemical to organic farming. The dairy sector will also benefit from the removal of GST on milk and cheese, and a reduction on butter and ghee. Additionally, the new rates apply to allied sectors like beekeeping, fish farming, and handicrafts, supporting integrated farming practices and women’s self-help groups.
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