https://www.taxtmi.com/news?id=56416 GST rate rationalization prescribes operational and ITC consequences: manufacturers must issue revised MRPs and price lists with relabelling of existing stocks not mandatory if retail price compliance is ensured; drones uniformly attract 5% GST; bricks remain under the special composition scheme except sand lime bricks which have reduced rate; individual life and health insurance supplied to individuals is exempt with reinsurance exempt and other insurer ITC required to be reversed; 5% without ITC is mandatory for specified hotel accommodation units and beauty services with proportionate ITC reversals; multimodal transport is taxed at reduced rate with restricted ITC absent air leg and at 18% with full ITC if any leg is by air; local delivery through e commerce operators is taxable at 18% with ECO liability where supplier is unregistered; leasing without operator follows like goods rates while car hire with operator offers an option between lower rate with limited ITC or higher rate with full ITC. en-us Mon, 22 Sep 2025 10:50:04 +0530 Mon, 22 Sep 2025 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=56416 GST rate rationalization prescribes operational and ITC consequences: manufacturers must issue revised MRPs and price lists with relabelling of existing stocks not mandatory if retail price compliance is ensured; drones uniformly attract 5% GST; bricks remain under the special composition scheme except sand lime bricks which have reduced rate; individual life and health insurance supplied to individuals is exempt with reinsurance exempt and other insurer ITC required to be reversed; 5% without ITC is mandatory for specified hotel accommodation units and beauty services with proportionate ITC reversals; multimodal transport is taxed at reduced rate with restricted ITC absent air leg and at 18% with full ITC if any leg is by air; local delivery through e commerce operators is taxable at 18% with ECO liability where supplier is unregistered; leasing without operator follows like goods rates while car hire with operator offers an option between lower rate with limited ITC or higher rate with full ITC. News - Mon, 22 Sep 2025 10:50:04 +0530 https://www.taxtmi.com/news?id=56416