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March 2025

Recent Developments in GST

By G. G. Goyal, Chartered Accountant | C. B. Thakar, Advocate
Reading Time 20 mins

A. NOTIFICATIONS

i) Notification No.7/2025-Central Tax dated 23rd January, 2025

By above notification the amendments are made in CGST Rules regarding grant of temporary identification number.

ii) Notification No.8/2025-Central Tax dated 23rd January, 2025

By above notification waiver for late fees for GSTR-9 is provided.

iii) Notification No.9/2025-Central Tax dated 11th February, 2025

By above notification, date of coming into force of rules 2, 8, 24, 27, 32, 37, 38 of the CGST (Amendment) Rules, 2024 is specified.

B. CIRCULARS

(i) Clarification on regularising payment of GST on co-insurance premium — Circular no.244/01/2025-GST dated 28th January, 2025.

By above circular the clarification is given regarding regularizing payment of GST on co-insurance premium apportioned by the lead insurer to the co-insurer and on ceding / re-insurance commission deducted from the reinsurance premium paid by the insurer to the reinsurer.

(ii)

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