Circular No. 247/04/2025 – GST clarifies GST rates & classification of goods per 55th GST Council meeting. Explore new rates & compliance tips with Finodha’s…

Representations were received from trade and industry for clarification on certain issues regarding levy of GST on supply of services.

Rule 6 of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the “CGST Rules”) deals with the validity of the composition levy. As per the said rule, the option exercised by a registered person to pay tax under the composition scheme shall remain valid so long as he satisfies the conditions mentioned in section 10 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”) and the Central Goods and Services Tax Rules.

It is only when the buyer selects a particular artwork displayed at the gallery, that the actual supply takes place and applicable GST would be payable at the time of such supply.

Understand Circular No. 204/16/2023-GST on GST applicability and valuation of personal and corporate guarantees with practical FAQs and examples.

Mechanism for discharge of tax liability on trading of Priority Sector Lending Certificate (PSLC) for the period 1.7.2017 to 27.5.2018.

References have been received regarding a clarification as to whether simple fertilizers, such as MOP (Murate of Potash) classified under Chapter 31 and supplied for use in manufacturing of a complex fertilizer, are entitled to the concessional GST rate of 5%, as applicable in general to fertilizers (i.e. fertilizers which are cleared to be used as fertilizers).

Based on the recommendations of the GST Council in its 54th meeting held on 9th September, 2024, at New Delhi, in exercise of the powers conferred under section 168(1) of the Central Goods and Services Tax Act, 2017, the Board hereby clarifies the following issues through this circular for the purpose of uniformity in their implementation:

Learn Circular No. 252/09/2025-GST on eOffice communications, Issue Number as DIN, RFN verification, and updated CBIC documentation requirements.

Understand Circular 214/08/2024-GST and why life insurers are not required to reverse ITC on the investment portion of insurance premium excluded under Rule 32(4).