Govt Won’t Restore Anti-Profiteering Under GST

By BPN News Desk September 19, 2025

Business Finance

The Indian government has confirmed there are no plans to bring back the anti-profiteering provisions under Section 171 of the GST law. These provisions required businesses to pass on tax rate cuts or input tax credit benefits to consumers. Background: What Changed When GST was introduced in

Business Finance

GST Rate Reductions Effect from September 22

By BPN News Desk September 17, 2025

Finance Minister Nirmala Sitharaman announced that recent GST rate cuts will take effect from 22 September 2025. These cuts are expected to streamline tax slabs and reduce rates across many consumer goods. Economic Impact Projected The government estimates these reforms will inject about ₹2 lakh crore into the Indian economy by increasing cash in the […]

Government Policies National

India Proposes 20-Year Tax Holiday for Data Centres

By BPN News Desk September 15, 2025

The government has drafted a National Data Centre Policy that includes a tax holiday of up to 20 years for developers. The move aims to attract large-scale investments while boosting capacity, energy efficiency, and employment. Incentives Under the Policy The draft policy proposes GST input tax credits on capital assets such as construction material, electrical […]

Business Finance

CBIC Says No ITC Reversal for Post-Sale Discounts

By BPN News Desk September 14, 2025

The Central Board of Indirect Taxes and Customs (CBIC) has clarified that buyers will not be required to reverse Input Tax Credit (ITC) when suppliers provide post-sale financial or commercial discounts through credit notes. The clarification states that such discounts do not reduce the taxable value or the supplier’s GST liability. Clarification on Discounts According

Business Finance

FMCG Firms Say They Cannot Directly Pass GST Cuts

By BPN News Desk September 12, 2025

Consumer goods companies say that even though GST rates are being cut, they cannot directly lower prices for consumers. They argue that factors like input costs, packaging, distribution, and existing stock with old pricing make immediate price reductions difficult. Government Expectation The government, including the Finance Ministry and CBIC, has made clear that firms

Business Finance

Moody’s Sees Higher GST Revenue Loss Than Govt

By BPN News Desk September 10, 2025

Rating agency Moody’s said India’s recent GST rate cuts are expected to encourage household spending and strengthen demand. The reforms introduced a two-slab structure of 5% and 18%, along with a 40% tax on luxury and sin goods. Revenue Shortfall Could Exceed Estimates The Indian government projected a revenue loss of about ₹48,000 crore due […]

Business Finance

GST 2.0 Reforms Expected to Boost Consumption

By BPN News Desk September 9, 2025

Sanjay Kumar Agarwal, chairperson of the Central Board of Indirect Taxes and Customs, said that the new GST rate cuts under “GST 2.0” are expected to drive consumer spending. He noted that while the reforms could lead to an estimated ₹48,000 crore revenue loss, this may be balanced out if industries pass on savings to […]

Op-Eds Opinion

GST 2.0 Is About Trust: Why FMCG Must Follow Auto’s Lead

By BPN News Desk September 9, 2025

When the GST 2.0 reforms were announced, the immediate reaction of different sectors told two very different stories. The auto industry wasted no time in passing on the benefits to customers, triggering a surge in demand and a rally on Dalal Street. FMCG firms, on the other hand, chose the safer route of tweaking packaging […]

Business Finance

GST Council Approves Simplified Tax Slabs

By BPN News Desk September 7, 2025

In the 56th GST Council meeting, Finance Minister Nirmala Sitharaman announced a new, simplified Goods and Services Tax structure. The overhaul reduces GST to two main slabs—5% and 18%—alongside a 40% rate for certain high-end or “sin” goods. Changes Aimed At Simplification And Relief The restructuring shifts hundreds of items, including everyday essentials like packaged

Op-Eds Opinion

Delhi Bans Rummy but Shuffles the GST Deck

By BPN News Desk September 6, 2025

The irony is too perfect. The Indian government banned online rummy, poker, and fantasy sports calling them “gambling,” thereby forfeiting nearly ₹20,000 crore in annual tax revenue. And yet, at the same time, it has embarked on its own gamble — GST 2.0 — giving up another ₹50,000–70,000 crore in revenues, all while running a […]