What is the new GST rule?

Is GST still 9% in 2025?

The current standard GST rate in 2025 is 9%. The last GST rate increase in Singapore was from 8% to 9% from 1 January 2024. Imported goods are subject to GST at the standard rate of 9% in Singapore.

What are the changes to Table 12 in GST April 2025?

A government advisory announces phase-wise changes to Table-12 in GST return forms GSTR-1 and GSTR-1A, effective April 2025. The modifications include separating B2B and B2C supply summaries by HSN code and mandating selection of HSN codes from a predefined dropdown menu, eliminating manual entry options.

Is GST going to increase?

Major highlight was simplification of tax rates into two main slabs (5% & 18%) by removing 12% and 28%. Sin goods will be taxed at a new 40% GST. These changes are now live with notifications by the CBIC passed on 17th September 2025.

How do I avoid 9% GST on SG Custom?

How to Avoid GST on Overseas Purchases Legally

• You are 18 or older.
• You are not arriving from Malaysia.
• You have been outside of Singapore for 48 hours or more.
• You are importing an allowable product for your personal use.

Is GST 11% now?

GST is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia. To work out the cost of an item including GST, multiply the amount exclusive of GST by 1.1. To work out the GST component, divide the GST inclusive cost by 11.

What is the new limit of GST?

GST registration limits in regular category states are ₹40 lakhs for goods and ₹20 lakhs for services. Special category states have a limit of ₹20 lakhs.

What are the changes from 1st July 2025?

What are the new GST rules from July 2025? From 1st July 2025, GSTR-3B cannot be edited after filing. GSTR-1A is introduced for corrections, and GST returns older than 3 years from the due date cannot be filed.

Is GST 5 or 7 percent?

The tax is a 5% tax imposed on the supply of goods and services that are purchased in Canada, except certain items that are either "exempt" or "zero-rated": For tax-free — i.e., "zero-rated" — sales, GST is charged by suppliers at a rate of 0% so effectively there is no GST collected.

Do I need GST if my turnover is below 20 lakhs?

If a company's annual sales are below Rs. 40 lakhs for goods or Rs. 20 lakhs for services, or if the startup deals in exempt items or services, it is not required to register for GST.

What is the GST collection for October 2025?

Total Net GST revenue for October 2025 stands at ₹1,69,002 crore, which is 0.6% higher(monthly growth) and 7.1% higher (yearly growth) than the corresponding period last year at ₹1,68,054 crore.

Which items are exempted from GST?

List of exempted goods under GST in India:

• Food. ...
• Raw materials. ...
• Tools/Instruments. ...
• Miscellaneous. ...
• Agricultural services. ...
• Transportation services.
• Services provided by the government and diplomatic missionaries.
• Judicial services.

What happens if you don't declare goods at customs?

Penalties vary depending on the nature and value of the undeclared goods, but may include: Seizure of Items: Customs agents have the authority to confiscate undeclared items, even if they were brought into the country innocently. Fines and Penalties: Civil penalties can be significant.

What are the GST rates changing in September 2025?

The 56th GST Council (3 Sept 2025) revamped the tax slabs into two main rates—18% and 5%—plus a new 40% rate for luxury and demerit goods. Essentials like bread, milk, and many packaged foods now fall under 0–5%, and common items like soaps and shampoos drop to 5%.

What is the new update in GST?

The GST new rate list 2025 is all about simplifying the tax system. With just two main slabs (5% and 18%), a 0% slab for essentials, and a 40% slab for luxury goods, the GST structure is now easier to understand.

How is GST calculated?

GST Amount = (Selling Price x GST Rate) / 100. Here, the Selling Price is determined by adding the Cost Price and Profit Amount. The calculator factors in the Selling Price, representing the total value of goods or services subject to GST, and the GST rate, which fluctuates based on the nature of the goods or services.

What is the GST rule for April 2025?

Effective April 1, 2025, businesses with an Annual Aggregate Turnover (AATO) exceeding ₹10 crore must report B2B e-invoices to the IRP within 30 days from the invoice date. Previously, this rule applied only to taxpayers with AATO above ₹100 crore.

What is the GST limit for 40 lakhs?

The GST registration turnover limits remain ₹40 lakh for goods and ₹20 lakh for services (₹20 lakh/₹10 lakh in special states), but 2025 tightens compliance with mandatory MFA log ins, a 30 day e invoice upload window for firms above ₹10 crore, a 180 day invoice age cap for e way bills, and compulsory ISD registration ...

What is the GST exemption for 2025?

The total of lifetime gifts and the estate are eligible for a lifetime exemption, which is set at $13.99 million in 2025. The exemption amount is indexed for inflation, and was scheduled to be reduced by half after 2025. The higher exemption level was made permanent and slightly increased to $15 million in 2026 by P.L.

Do we get extra GST in July 2025?

Every year, the CRA adjusts federal tax benefits based on inflation. For 2025, the CRA HST credit will rise by 2.7%, starting with the July 2025 GST HST payment. While this increase is lower than 2024's 4.7%, it still brings welcome support for millions across the country.