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New Delhi, Sep 16 (PTI) Insurance companies will not be able to claim input tax credit on GST paid on inputs like commissions and brokerages for individual health and life insurance policies with effect from September 22, the CBIC said on Tuesday. The Central Board of Indirect Taxes and Customs (CBIC) has issued a set of FAQs clarifying on the taxation of various goods and services when the new GST slabs kick in from September 22. The GST Council in its meeting on September 3 had decided to ex ...Read More >
New Delhi: The Finance Ministry on Tuesday issued a list of frequently asked questions (FAQs) to provide a more detailed explanation on the tax rate cuts that have been announced as part of the GST 2.0 reforms. Q1. Is it required to recall and re-label MRP on medicines already in the supply chain before 22nd September, 2025? How will the re-labelling be implemented? Answer: The National Pharmaceutical Pricing Authority (NPPA) vide OMs dated 12.9.2025 and13.9.2025 have clarified the following: ...Read More >
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