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The CBIC has made it clear that the insurers cannot claim input tax credit (ITC) on the services such as broking and commission.

Insurers Cannot Claim ITC on Brokerage: CBIC Issues Notification

The goods covered under each tax rate are listed in Schedules I to VII of the notification, along with their HSN codes.

CBIC has released FAQs-2 on the recent GST rate rationalisation based on the recommendations made by the GST council in its 56th meeting.

Under GST 2.0, most goods from the 12% slab have been shifted to 5%, reducing costs for 140 crore people and boosting savings.

The GST portal services will be unavailable from 12:00 AM to 2:00 AM on 16th September 2025.

top companies like Hindustan Unilever, P&G, and L'Oréal have communicated to their sellers that the about the reduced GST