Hostel accommodation is exempt only if rent and duration conditions are met. The article explains when GST at 18% applies and when exemption is available.
New GST rates tax paper based on end-use (18% vs. Nil-rated). This complicates compliance and blocks ITC, potentially increasing the final cost of exempt products like exercise books.
CBDT’s Circular 14/2025 extended the audit report date for AY 2025-26 to October 31, 2025. This move contradicts the IT Act’s design, which links the audit date to the return filing deadline, causing taxpayer uncertainty.
The removal of GST cess on motor vehicles has created confusion for automobile dealers, leaving them with stranded credit and potential financial losses.
