Source: https://taxguru.in/goods-and-service-tax/cbic-warns-fake-gst-transition-benefit-news.html
The Central Board of Indirect Taxes and Customs (CBIC) today issued a stern clarification, dismissing a widely circulated social media message that falsely claimed new Goods and Services Tax (GST) transition benefits would be implemented from September 22, 2025.
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The Nifty Auto index climbed 3.4% to 27,220 points, driven by a rally in auto stocks following GST rate cuts. Automakers like Tata Motors and Mahindra announced significant price cuts across key models.
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Indian stock markets edged up on Wednesday, led by the auto and consumer sectors ahead of a GST Council meeting. Nifty 50 increased by 0.15% and Sensex by 0.17%, but analysts warn of potential market weakness due to continued selling and external economic challenges.
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Maruti Suzuki, Tata Motors, Hyundai Motor, and Mahindra & Mahindra — auto makers have seen their sales dip this August compared to last year. Here, we examine whether the likely GST slab rejig could brighten prospects.
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JK Tyre & Industries share price leading among the gainers jumped nearly 6 per cent on September 2. Meanwhile, MRF and CEAT shares were trading 5 per cent up.
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The Indian government has announced a reduction in the indirect tax burden on consumers—to be achieved by rationalizing goods and services tax (GST) rates.
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Indian stock market saw gains on Tuesday, driven by Reliance Industries ahead of a key GST Council meeting. The Nifty 50 rose 0.45% to 24,734. Positive sentiment stems from strong GDP figures and potential GST cuts for various products, possibly boosting consumer spending.
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IDFC FIRST Bank is among private sector banks authorised for GST collections, reaffirming its commitment to offering universal banking solutions and comprehensive financial services to the wider ecosystem.
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The NBDA has urged Finance Minister Nirmala Sitharaman to address GST concerns affecting the news broadcasting industry, advocating for a shift in taxation timing and the allowance of input tax credit on certain business expenses to improve financial health and operational efficiency.
Read MoreCorporate India, leaner than ever from efficiency gains forged through indirect tax reforms, faces a fresh challenge as the government’s GST overhaul threatens to lock up cash and lengthen working capital cycles, even as weak demand clouds their growth prospects.
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