Latest updates on GST – Finance, Insurance, Health & More
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The financial landscape for Indian health insurance policyholders has undergone a major positive transformation! Understanding the current rules about GST on Medical Insurance is crucial, as a significant tax burden has recently been lifted for millions of individuals and families. If you are wondering about the current GST rate on health insurance premiums, here is […]
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✅ A. Before You Start ✅ B. GSTR-9 Data Verification 1. Outward Supplies (Table 4 & 5) 2. Input Tax Credit (Table 6 & 7) 🧮 Cross-check ITC breakup: 6A = 6A1 + 6A2; 6A2 = Current FY ITC. 3. Inward Supplies Reconciliation (Table 8) Table Verify for Action 8A Auto-populated from GSTR-2B (including Apr–Oct […]
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The Goods and Services Tax Network (GSTN) has released a comprehensive FAQ document on GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) for the Financial Year 2024-25, clarifying key reporting requirements, new changes, and system auto-populations.Here’s a complete summary of all major points every GST-registered taxpayer should know before filing their annual return for FY 2024-25. […]
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The Ministry of Finance has issued Notification No. 13/2025-Central Tax dated 17th September 2025, introducing the Third Amendment to the CGST Rules, 2017. This notification brings a series of procedural and structural changes aimed at streamlining compliance, enhancing transparency, and improving the efficiency of GST administration. Let’s break down the major updates, compare them with […]
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GSTR-9 is the annual return filed by regular taxpayers under GST. The 2025 amendment introduces significant enhancements to improve transparency and reconciliation of Input Tax Credit (ITC). 🔧 Structural Changes 📊 Impact 📗 GSTR-9C: Reconciliation Statement – Key Updates GSTR-9C is a reconciliation statement between audited financials and GSTR-9, applicable to taxpayers above a turnover […]
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