Tag: GST compliance India

ITC Reversal Under GST: Complete Guide to 22 September 2025 Changes

Sep 15, 2025

—

by

Himanshu

in Finance and Accounting

Introduction – What’s Changing from 22 September 2025 The Goods and Services Tax (GST) framework in India is undergoing a major compliance change. From 22 September 2025, businesses supplying goods that become exempt must reverse the Input Tax Credit (ITC) they previously claimed on unsold stock.This rule, known as the ITC reversal under GST, is…
Government Mandates Monthly Monitoring of Price Changes in 54 Essential Items After GST Rate Reduction

Sep 12, 2025

—

by

Himanshu

in Economic News

The Indian Finance Ministry has issued a directive to Central GST (CGST) field officers to closely monitor price changes for 54 commonly used essential items following the implementation of new GST rates. Effective from 22 September 2025, this initiative is aimed at ensuring that the benefits of GST rate cuts are passed on to consumers,…