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Home>>Business>>GST 2.0 Buzz Busted: CBIC Debunks False Social Media Claims
Business

GST 2.0 Buzz Busted: CBIC Debunks False Social Media Claims

international media news
September 9, 2025 35 Views0

The Central Board of Indirect Taxes and Customs (CBIC) has dismissed a viral social media message that falsely claimed new GST transition benefits would take effect from September 22, 2025.

According to the misleading message, the changes would cover areas such as unutilised cess credit, ITC on exempt supplies, and new price adjustment provisions. The CBIC clarified that these claims are factually incorrect and misleading, urging citizens, trade bodies, and businesses to rely only on official notifications, circulars, and FAQs for accurate information.

 
 

In an official statement, CBIC said:

“It has come to notice that an informal message claiming to be from Chairman CBIC is being widely circulated on social media… It is hereby informed that such claims are factually incorrect and misleading.”

GST Council’s 56th Meeting: Key Announcements

At its 56th meeting on September 3, 2025, chaired by Union Finance Minister Nirmala Sitharaman, the GST Council approved several next-generation reforms:

A shift to a two-slab GST structure of 5 percent and 18 percent, replacing the earlier 12 percent and 28 percent rates.

40 percent GST retained on luxury and sin goods such as tobacco, pan masala, aerated drinks, high-end cars, yachts, and private aircraft.

Simplified registration and return filing, faster refund processing, and reduced compliance costs, benefiting MSMEs and startups.

GST cut on household essentials and several life-saving drugs.

According to the Press Information Bureau (PIB), the new system is designed to make taxation simpler, more transparent, and fair while ensuring a balanced revenue flow.

When Will the New GST Rates Apply?

As per the council’s recommendations:

The revised GST rates on most goods and services will take effect from September 22, 2025.

For cigarettes, zarda, unmanufactured tobacco, and beedi, the current rates and compensation cess will continue for now. The new rates for these products will be notified later, after all loan and interest liabilities linked to the compensation cess are discharged.

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