https://www.youtube.com/watch?v=KTHSFgdwSQs
Significant changes to the Goods and Services Tax structure have been announced, impacting multiple sectors. The inverted duty structure in the man-made textile sector is being corrected by reducing GST on man-made fiber to 5%. Similarly, for the fertilizer sector, GST on key inputs like sulfuric acid and ammonia is down to 5%. The renewable energy sector also sees a GST reduction to 5% on devices like windmills and solar panels. A special rate of 40% will be levied on sin and super-luxury goods, including pan masala, certain cars, and personal aircraft. In a move to increase affordability and coverage, GST on all individual life and health insurance policies has been exempted. The announcement stated, "All this will be effective 22nd September 2025." However, tobacco-related products will continue at existing rates until compensation cess loans are repaid. #gstcouncil #gstratechange #gstnews #itwebvideos #taxreform #indianeconomy #inverteddutystructure #textileindustry #fertilizersector #renewableenergy #sintax #luxurytax #insurance #panmasala #tobacco #gstcouncil
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