TaxTMI 
TaxTMI 
TaxTMI 
RECENT DEVELOPMENTS IN GOODS AND SERVICES TAX
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....ECENT DEVELOPMENTS IN GOODS AND SERVICES TAX<br>By: - Dr. Sanjiv Agarwal <br>Goods and Services Tax - GST<br>Dated:- 17-9-2025<br>Indian economy may grow @ 6.9% in FY 2025-26, according to Fitch Ratings. Also, despite GST recent overhaul, India can also meet fiscal deficit targets of 4.4% of GDP. According to India's CEA, recent GST reforms will help offset some of the adverse impact of steep 50 percent tariffs imposed by US. The GST contribution is not just in the direct impact in terms of purchasing power it places in the hands of people by bringing down the prices of goods which will have to be passed on. It provides an antidote to the second and third round uncertainty effects. The GST reforms - 2.0 are indeed a landmark by all means ....
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....and is in larger public interest. Better late than never. It took eight long years for the Government to realize this. However, rate rationalization, as it as, is going to create further anomalies and imbalances in terms of inverted duty issue, distorted cascading effect and lapsing of credit of input tax and compensation cess. These issues ought to be addressed as well and in time. While some quarters are calling the Council meeting outcome as politically driven, others are calling it a mini-budget which was the need of the hour, given the geo political scenario and US tariffs. Government has taken a major risk by reducing the tax rates along with rate rationalization within lesser number of slabs and taking all states on board in the hop....
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....e that lower taxes may boost consumption fueled by the festive demand leading to buoyancy in tax revenue. In order to smoothly implement GST Council's recommendations w.e.f. 22.09.2025, CBIC has convened consultation meetings with various apex chambers and industry bodies on 10-12 September, 2025 to understand their concerns and address them. It is expected that Notifications / Circulars may be issued next week ahead of 22.09.2025 deadline. The work allocation amongst CBIC members has been made from September 9, 2025. Shri Shashank Priya continues to be Member GST, Central Excise and Service Tax. Ministry of Consumer Affairs, Food and Public Distribution, Department of Consumer Affairs (Weights and Measures Unit), has granted permission ....
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....to the manufacturers / packers / importers of pre-packaged commodities to declare revised retail sale price (MRP) on the unsold stock due to recent chance in GST rates. GSTN has issued an advisory to file pending returns before expiry of three years. There returns are filed under sections 37, 39, 44 and 52 of the CGST Act, 2017. Ministry of Heavy Industries has issued a press release lilting out impact of GST rate changes on heavy industries. Similarly, Ministry of Agriculture and Farmers Welfare has also highlighted major transformation in the agriculture and dairy sectors due to rate changes. Declaration of Revised Retail Price (MRP) on Unsold Stock * Subsequent to GST rate rationalization announced after 56th Council meeting held o....
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....n 3rd September, 2025 to be implemented w.e.f. 22th September, 2025, Department of Consumer Affairs Weights & Measures Unit), Ministry of Consumer Affairs, Food and Public Distribution (CAFPD) has granted permission to the manufacturers or packers or importers of pre-packaged commodities to declare the revised retail sale price (MRP) on the unsold stock as on 22.09.2025 under the Legal Metrology (Packed Commodities) Rules, 2011. * Accordingly, Central Government has permitted manufacturers or packers or importers of pre-packaged commodities to declare the revised retail sale price (MRP) on the unsold stock manufactured/ packed / imported prior to revision of GST, after inclusion of the applicable/ increased amount of tax or after reducing....
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.... the reduced amount of tax due to change in GST, if any, in addition to the existing retail sale price (MRP) upto 31st December, 2025 or till such date the stock is exhausted, whichever is earlier. * Declaration of the changed retail sale price (MRP) shall be made by way of stamping or putting sticker or online printing, as the case may be. * This shall be subject to the following conditions: * The original MRP shall continue to be displayed and the revised price shall not overwrite on it. * The difference between the retail sale price originally printed on the package and the revised price shall not, in any case, be higher than the extent of increase in the tax, if any, or in the case of imposition of fresh tax, such fresh tax, on ....
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....account of implementation of GST Act and Rules. * In the case of reduction of tax, the revised price shall not, in any case, be higher than the extent of price after reduction of tax, if any. * Manufacturers or packer or importers shall make atleast two advertisements in one or more newspapers in this regard and also by circulation of notices to the dealers and to the Director of Legal Metrology in the Central Government and Controllers of Legal Metrology in the States and Union Territories, indicating the change in the price of such packages. * Any packaging material or wrapper which could not be exhausted by the manufacturer or packer or importer prior to revision of GST, may be used for packing of material upto 31st December, 2025 ....
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....or till such date the packing material or wrapper is exhausted, whichever is earlier, after making corrections required in retail sale price (MRP) on account of implementation of GST by way of stamping or putting sticker or online printing as the case may be. (Source: F.No. I-10/14/2020-W&M dated 09.09.2025 issued by Director, Legal Metrology, Ministry of CAFPD, Government of India) Charge Allocation of CBIC Members Ministry of Finance, Department of Revenue, Central Government has issued an Order for allocation of charges among the members of CBIC w.e.f. 9th September, 2025 as under: Name Charge Supervision Shri Sanjay Kumar Agarwal Chairman All Members Shri Shashank Priya Member (GST, Central Excise & Service Tax)....
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.... Directorate General of Goods & Services Tax; Directorate General of Anti-Profiteering; + North Region Shri Surjit Bhujabal Member (Customs) Directorate General of Export Promotion; Directorate General of Valuation; Authority for Advance Ruling; Central Revenue Control Laboratories; Directorate of International Customs + Central Region Smt. Aruna Narayan Gupta Member (Administration & Vigilance) Directorate General of NACIN; Directorate General of Vigilance; Directorate General of Human Resource Development; Directorate General of Performance Management + East Region Shri Mohan Kumar Singh Member (Compliance Management) Directorate General of Rev....
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....enue Intelligence; Directorate General of Goods and Service Tax Intelligence; Directorate General of Analytics and Risk Management; Directorate General of Audit; Commissioner (PAC) + Preventive Zones Shri Yogendra Garg Member (IT, Taxpayer Services & Technology) Directorate General of Systems & Data Management; Directorate General of Taxpayer Services; Directorate of Logistics + West Region Shri Vivek Chaturvedi Member (Tax Policy and Legal) Chief Commissioner (A.R.), CESTAT; Settlement Commission; Directorate of Legal Affairs + South Region (Source: CBIC Office Order No. 147/2025 dated 09.09.2025) GSTN Adviso....
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....ry on filing of pending Returns * GSTN has issued on Advisory to file pending returns before expiry of three years * Taxpayers are not allowed to file their GST returns after the expiry of a period of three years from the due date of furnishing the said return under Section 37 (Outward Supply), Section 39 (payment of liability), Section 44 (Annual Return) and Section 52 (Tax Collected at Source). * These Sections cover GSTR-1, GSR-1A, GSTR 3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR 7, GSTR 8 and GSTR 9 or 9C.. * These returns shall therefore, be barred for filing after expiry of three years. The said restriction will be implemented on the GST portal from September 2025....
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.... Tax period, i.e., any return for which due date was three years back or more and hasn't been filed till September, 2025 tax period will be barred from Filling. * The latest GST returns that will be barred from filing w.e.f 1st October 2025 are: GST Forms Barred Period (w.e.f. 1st October,2025) GSTR-1/IFF August-2022 GSTR-1Q April-June 2022 GSTR-3B/M August-2022 GSTR-3BQ April-June 2022 GSTR-4 FY 2021-22 GSTR-5 August-2022 GSTR-6 August-2022 GSTR-7 August-2022 GSTR-8 August-2022 GSTR-9/9C FY 2020-21 * Taxpayers have been advised to reconcile their records and file their GST Returns as soon as possible, if not filed till now. (Source: GSTN Advisory dated 09.09.2025)<br> Scholarly articles for knowledge sharing by a....
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....uthors, experts, professionals ....