GST waiver on life and health insurance sparks 61% surge in enquiries; insurers pass full benefits to customers, making coverage more affordable.
After the government removed 18% GST on life, health, and accident insurance, major insurers slashed distributor commissions by 18% to offset loss of input tax credit (ITC). Agents warn the move could weaken insurance distribution and hurt penetration.
DGGI officials arrested a chartered accountant and an advocate from Sonepat for a Rs 79.18 crore GST evasion scam involving fake ITC claims. In a separate case, a Kanpur court denied bail to a Bengaluru man accused of ₹85 crore corporate forgery.
CBDT releases updated ITR-5 and ITR-6 utilities for AY 2025-26 on Oct 2, 2025, improving accuracy, validation, and ease of income tax filing.
FM Nirmala Sitharaman launches "आपकी पूँजी, आपका अधिकार" campaign to help citizens trace and reclaim unclaimed deposits, insurance, and mutual fund balances.
V-Mart to expand its Rs 1,000 apparel range as GST 2.0 cuts tax to 5% on clothes below Rs 2,500, boosting demand in India's value retail market.
India's festive season witnessed a remarkable rebound this year, with Navratri sales reaching a 10-year high, driven largely by the recent GST rate cuts and improved consumer sentiment, according to government officials.
Indore Paper Traders urge govt to fix GST anomalies by introducing a uniform 5% rate on all paper products to ease compliance and boost competitiveness.
The Consumer Affairs Ministry has resolved 3,981 GST complaints, ensuring rate cut benefits reach consumers and monitoring e-commerce pricing compliance.
CBIC issues Instruction No. 06/2025-GST on risk-based provisional refund sanction, allowing 90% refund for low-risk cases from October 1, 2025, to streamline GST compliance and trade facilitation.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
IDT LIVE Exam Oriented Batch | May 2026, Sept 2026 & Jan 2027
CAclubindia
