New Delhi, Sep 7 (IANS) The Central Board of Indirect Taxes and Customs (CBIC) on Sunday refuted a viral social media message claiming that new GST transition benefits, including unutilised cess credit, ITC on exempted supplies, and fresh price adjustment provisions, will take effect from September 22, calling the claims “false and misleading.”
In a statement posted on the social media platform X, CBIC clarified that no such changes are planned and urged the public not to rely on unofficial messages.
“It has come to notice that an informal message claiming to be from Chairman CBIC is being widely circulated on social media, claiming that certain transition benefits under GST will be applicable from September 22 on issues related to unutilised cess credit, ITC of exempted supplies and new price adjustment provisions. It is hereby informed that such claims are factually incorrect and misleading,” CBIC said in its post.
The board further urged the general public, trade, industry, and other stakeholders to rely only on government-issued notifications, circulars, and FAQs for accurate information.
“It is requested that general public, members of the trade and industry and other stakeholders should only refer to the official Government issued notifications, circulars, FAQs, etc. for better understanding of the next generation reforms under GST,” it added.
The viral message had falsely claimed that unused cess credit could be utilised, ITC benefits on exempt supplies would be allowed, and a new price adjustment policy would be introduced.
CBIC has clarified that no such reforms have been implemented.
The government has already introduced next-generation GST reforms, which include a major rate restructuring.
The earlier four-rate structure has been reduced to two slabs — 5 per cent and 18 per cent. The 12 per cent and 28 per cent slabs have been scrapped, while a special 40 per cent rate has been kept for luxury and sin goods like tobacco and cigarettes.
–IANS
pk