South India State News

MK Stalin Claims States Bear Half the GST Relief

By BPN News Desk September 24, 2025

Tamil Nadu Chief Minister M. K. Stalin has accused the central government of delaying promised Goods and Services Tax (GST) rate cuts and said that states are bearing 50% of the relief intended for taxpayers. On “Rs 2.5 Lakh Crore” Savings Claim Stalin questioned Prime Minister Narendra Modi’s announcement that Indians will save ₹2.5 lakh […]

Health

GST Exemption Frustration for Insurers, Policyholders

By BPN News Desk September 24, 2025

From September 22, 2025, individual life and health insurance premiums in India are exempt from the 18% Goods and Services Tax (GST). This move was announced by the GST Council to reduce the cost burden on policyholders. No Input Tax Credit for Insurers Because these insurance premiums are now exempt, insurers can no longer claim […]

Business Finance

Karnataka Says States to Lose ₹1.5 Lakh Crore from GST 2.0

By BPN News Desk September 23, 2025

Karnataka Revenue Minister Krishna Byre Gowda has warned that the new GST 2.0 structure could cost states between ₹1 lakh crore and ₹1.5 lakh crore in lost revenue. Speaking to NDTV, he said the changes would unfairly burden state governments. Centre vs States: Who Bears the Burden? According to Gowda, the Centre is projected to […]

National

PM Modi Starts “GST Bachat Utsav” with Navratri

By BPN News Desk September 22, 2025

Prime Minister Narendra Modi greeted the nation on the first day of Navratri, highlighting the festival’s values of courage, devotion, patience, and determination. He linked the occasion with the rollout of the “Next-Generation GST” reforms, which take effect on 22 September 2025. Modi described the reforms as the beginning of a “GST Bachat Utsav” (Savings […]

National

PM Modi Announces GST 2.0, Pushes Swadeshi in Address

By BPN News Desk September 21, 2025

Prime Minister Narendra Modi announced sweeping reforms in the Goods and Services Tax (GST) regime, set to take effect on September 22, 2025. He launched the “GST Bachat Utsav” (Savings Festival), stating that the changes will particularly benefit the poor and middle class. The revised GST and income tax measures are expected to save citizens […]

Business Finance

Govt Won’t Restore Anti-Profiteering Under GST

By BPN News Desk September 19, 2025

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 2017, the anti-profiteering law and a body called […]

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