How GST Budget Reforms Could Shape the Future of India's MSME
The GST reform holds immense potential to bolster India's MSME sector, but its current framework requires critical ...
No GST on penal charges levied by banks, NBFCs: CBIC
GST will not be charged on penal charges levied by banks and NBFCs, as clarified by the CBIC. This exemption is due to such ...
Budget 2025: Auto Industry expects GST reforms, enhanced localization, EV adoption
The Auto Industry's Expectations from Budget 2025 highlight key areas of focus, including reforms in GST to streamline ...
A full GST exemption on life insurance premiums could mean more expensive premiums for policyholders. Here’s why?
At present, a high GST rate of around 18% on life and health insurance premiums makes plans too costly, which leads to many ...
Taxpayers warned about fake GST summons: Here's how to check fraud
The DIN under GST is a 20-digit unique code assigned to official communications sent by tax authorities to registered ...
Union Budget: Tax Relief, Lower Import Duties, Rationalizing GST Rates To Boost FMCG Consumption
With consumption accounting for over 60 percent of India's GDP, boosting disposable income is critical to reviving demand ...
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No GST on Bank, NBFC Penal Charges: CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that GST will not be applicable on penal charges levied ...
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GST Clarifications on Penal Charges, Exemptions & GST on certain Services
2. Applicability of GST on penal charges being levied by the Regulated Entities (REs) in view of RBI instructions dated 18.08 ...
CBIC Confirms No GST Applicability on Penal Charges Imposed by Banks and NBFCs
The CBIC confirms that GST is not applicable on penal charges by banks and NBFCs, clarifying the tax implications for ...
Budget 2025 Expectations Highlights: Income tax slabs, capex allocation and GST rationalisation on wishlist
As we near Finance Minister Nirmala Sitharaman's eighth Budget speech on February 1, 2025, stakeholders share their wishlist ...
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Union Budget 2025: Students Advocate for GST Relief and Enhanced Infrastructure Support
Students urge for GST relief, better infrastructure, and support for the middle class in Union Budget 2025 to enhance ...
No GST on penal fees for loan non-compliance, says finance ministry
The RBI in its circular had directed regulated entities to replace "penal interest" with "penal charges" for borrowers who fail to comply with loan terms ...