India's political landscape is ablaze with activity! From the ongoing debates surrounding the new farm bills and their impact on rural India, to the upcoming state elections shaping the national narrative, the stakes couldn't be higher. Key political figures are maneuvering strategically, with alliances shifting and power dynamics constantly in flux. The opposition's challenge to the ruling party is intensifying, sparking vigorous debates on crucial policy matters including economic reforms and social justice initiatives. Parliamentary proceedings are filled with heated exchanges, reflecting the deep divisions within the nation. This evolving political climate directly impacts the lives of every Indian citizen, influencing everything from economic opportunities to social welfare programs. Stay informed about the latest developments in Indian politics, from crucial legislative decisions to grassroots movements, by exploring Abtak.com for in-depth analysis and breaking news updates. Understanding the intricacies of our political system is crucial; stay engaged, stay informed, and stay ahead.
New Delhi, Jun 7 (PTI) GST Network on Saturday said beginning the July tax period, GST taxpayers will not be able to file monthly and annual GST returns after three years of the original filing due date. The July 2025 tax period means taxpayers will file monthly returns in August this year. In an advisory, the Goods and Services Tax Network (GSTN) said taxpayers will not be able to file GSTR-1, GSTR 3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR 7, GSTR 8 and GSTR 9 on expiry of three years from the filing due date. The amendments to Goods and Services Tax (GST) law with regard to time barring were effected through the Finance Act, 2023. Thus, GST outward supply returns, besides returns related to payment of the liability, annual returns and tax collected at source will become time-barred. "The returns will be barred for filing after expiry of three years. The said restriction will be implemented on the GST portal from the July 2025 Tax period," the GSTN advisory said. It advised taxpayers to reconcile their records and file their GST returns as soon as possible if not filed till now. Earlier in October, the GST Network (GSTN) alerted taxpayers that the said provision of tax barring would be implemented in early 2025. AMRG & Associates Senior Partner Rajat Mohan said that while this step enhances system discipline and curtails prolonged non-compliance, it may severely impact taxpayers who, due to litigation, system issues, or genuine oversight, have pending filings. "The absence of a redressal mechanism for exceptional cases could lead to permanent denial of Input Tax Credit and financial setbacks," Mohan said.
New Delhi: With 15 million registered taxpayers and robust growth in the revenue receipts, the Goods and Services Tax (GST) ecosystem is continuing to evolve with a focus on ease of doing business, better compliance and wider economic participation, the finance ministry said on Monday as the indirect tax system completed eight years. Annual revenue from GST, introduced on 1 July 2017, has doubled to ₹22.08 trillion in FY25 from five years ago and micro, small and medium enterprises are finding easier access to credit, the ministry said. In FY21, the combined Central and state GST revenue coll ...Read More >
The fraud exploited the mechanism of Input Tax Credit (ITC) under the GST system The Enforcement Directorate (ED) has attached 10 immovable properties, worth Rs 15.41 crore in Kolkata and Howrah as part of its investigation into a goods and services tax (GST) fraud that spans three states and involves 135 shell companies. The properties, attached under the Prevention of Money Laundering Act (PMLA), belong to Amit Gupta, one of the masterminds of the GST fraud syndicate, and his associates, the ...Read More >
NEW DELHI: Chief Minister Rekha Gupta has said that traders across the national capital have begun receiving their goods and services tax (GST) refunds ahead of the festive season. So far, an amount of Rs 738 crore has been disbursed under this initiative to Delhi traders. She described this initiative, and the earlier decision to waive of late surcharge on water bills, as Diwali gifts to the people of Delhi. Highlighting the government's efforts to ensure timely GST refunds, the chief minister said that the Department of Trade and Taxes has successfully cleared pending refund cases amountin ...Read More >
Chandigarh, Jul 1 (PTI) Punjab registered a record 44.44 per cent growth in net goods and services tax collections at Rs 2,379.90 crore in June 2025, said Finance Minister Harpal Singh Cheema on Tuesday. Addressing the media here, Cheema said Punjab outpaced the national average in GST collection growth, firmly positioning itself among the top-performing states in tax mobilization despite facing national and geopolitical challenges, including border-related tensions. Also Read | Who Is PVN Madhav? Here's Everything You Need To Know About the Newly Appointed Andhra Pradesh BJP President. The ...Read More >
In 2024, Arunachal Pradesh Police arrested the Jha brothers for their role in a Rs 100 crore ITC scam, marking an earlier instance of their involvement in tax fraud The Enforcement Directorate's (ED) probe into the Rs 650 crore Input Tax Credit (ITC) scam has uncovered a web of fake firms and hawala traders, where even the names of Seema Haider and her husband Sachin were allegedly misused. According to reports, two brothers from Bihar's Darbhanga, Ashutosh Jha and Vipin Jha, have emerged as ke ...Read More >
New Delhi, Sep 24 (PTI) The red brick industry has urged the government to reduce GST rates to 5 per cent and remove the sector from the Special Composition Scheme. Currently, red bricks under the Special Composition Scheme attract 6 per cent GST and 12 per cent with ITC. The threshold for GST levy is Rs 20 lakh turnover. The new two-slab GST (Goods and Services Tax) structure of 5 per cent and 18 per cent has replaced the earlier four-rate duty regime following the GST Council's sweeping reform aimed at boosting consumption across the country. The new rates came into effect on September 22. ...Read More >
New Delhi, Sep 29 (PTI) Prime Minister Narendra Modi on Monday said that the BJP-NDA governments have given a "new model of good governance" in the country and urged party workers to ensure that the benefits of the next generation GST reforms reach the common citizens. The BJP is in government not for "satta" (power) but 'seva' (service), and its offices keep alive this sentiment, Modi said after inaugurating the Delhi BJP office. "The BJP-NDA governments have given a new model of 'sushasan' in the country. We are moving forward with the mantra of 'vikas bhi, virasat bhi'. We prioritised the ...Read More >
The GST 2.0 impetus coupled with the festive sentiment gave a fillip to automotive retail in October to record highs, though dealers now expect momentum to moderate as the post-festive phase sets in. October 2025 will go down as the month that redefined records for India's automobile retail industry. The Federation of Automobile Dealers Associations (FADA) on Friday reported that total vehicle registrations surged a whopping 40.5 per cent year on year to 40.24 lakh units, marking the highest-eve ...Read More >
NEW DELHI: Tractor sales surged sharply in the financial year 2026, with major OEMs posting double-digit volume growth. This growth momentum, however, may hit a roadblock as analysts forecast FY27 growth slowing to 0-3% amid high base effects and emerging El Niño risks. Ratings agency Crisil stated that tractor sales growth is projected to slow sharply to 0-2% year-on-year to about 1.2 million units in FY27. This follows an estimated 22% on-year rise in FY26, primarily driven by rationalisation of the goods and services tax (GST) rates, while a favourable monsoon further supported farm income ...Read More >
New Delhi: Maintaining the pace of India's growing economy, the country's gross goods and services tax or GST mop-up in June stood at Rs 1.85 lakh crore, marking a 6.2 per cent increase compared to the same month last year, while India's manufacturing sector activity rose to a 14-month high in June on the back of expansion in output, new orders, and job creation, two separate data showed on Tuesday. However, the finance ministry said that the government's focus on GST, which completes eighth year on Tuesday, is to promote ease of doing business, ensure stronger compliance and foster broader e ...Read More >
Medak: Telangana State BJP President N. Ramchander Rao on Friday appealed to the people to give the committed party an opportunity to meet the aspirations of the poor and downtrodden. Addressing a large gathering of party workers in Medak, the BJP chief remarked that citizens have experienced the rule of the BRS and the Congress party and have had bitter experiences with the deceitful practices of both. He urged people to support the BJP wholeheartedly in the upcoming local body elections as a way to teach the ruling Congress party a lesson for its unfulfilled promises. Rao emphasized that t ...Read More >
Need to stay united, must stand up to bullying, says Maruti Chairman RC Bhargava (File image) India needs to come together to deal with the 50 per cent punitive US tariffs on Indian products and stand up to any kind of bullying, Maruti Suzuki India Chairman R C Bhargava said on Thursday at the company's 44th Annual General Meeting (AGM) in New Delhi. "It is our duty as Indians to do our very best to promote and maintain our dignity and respect and not give in to any kind of bullying in this mat ...Read More >
New Delhi, Sep 24 (PTI) The red brick industry has urged the government to reduce GST rates to 5 per cent and remove the sector from the Special Composition Scheme. Currently, red bricks under the Special Composition Scheme attract 6 per cent GST and 12 per cent with ITC. The threshold for GST levy is Rs 20 lakh turnover. The new two-slab GST (Goods and Services Tax) structure of 5 per cent and 18 per cent has replaced the earlier four-rate duty regime following the GST Council's sweeping reform aimed at boosting consumption across the country. The new rates came into effect on September 22. ...Read More >
The Ranchi wing of Enforcement Directorate (ED) said on Tuesday that their officials have attached 10 immovable properties worth Rs 15.41 crore in Kolkata and Howrah in West Bengal in connection with a large-scale goods and services tax (GST) input tax credit (ITC) fraud syndicate. According to a press statement issued by ED, the properties attached by its officials in West Bengal belong to Amit Gupta, one of the principal masterminds of the syndicate and its aides. Advertisement The attachments were made under the Prevention of Money Laundering Act (PMLA), 2002. The total attachment in th ...Read More >
India's private sector growth slowed in October to its lowest in five months. Weaker demand and higher output prices impacted business optimism. Services sector growth saw a slowdown, while manufacturing activity improved. New orders expanded at a slower pace. International demand softened, particularly for exports to the United States. Businesses raised selling charges despite some cost easing. Growth in India's private sector eased to a five-month low in October as weaker demand and rising out ...Read More >
New Delhi: The Goods and Services Tax (GST) on July 1 2025, marks eights years since its launch. GST was introduced in 2017 and was a landmark reform taht simplified India's complex indirect tax system by bringing multiple state and central taxes under one roof. It aimed to make tax compliance easier, reduce business costs, and enable smoother movement of goods across states. Over the years, GST has boosted transparency, improved efficiency, and strengthened the foundation of a more unified national economy. Prime Minister Narendra Modi had called it "a path-breaking legislation for New India ...Read More >
Chandigarh: Punjab finance minister Harpal Singh Cheema on Friday claimed that the state had achieved record tax revenue growth, with the goods and services tax (GST) collection registering a net growth of 32.08% in July 2025 compared to the corresponding period last year."This robust performance is part of the state's consistent trend of setting record-breaking growth in tax revenue year-on-year and month-on-month for the last three and a half years," said Cheema.The minister elaborated that the net GST revenue collected in July this year was Rs 2357.78 crore, a substantial increase of Rs 572 ...Read More >
Udhampur, Sept 28: Union Minister Dr Jitendra Singh said on Sunday that all communities are widely welcoming the recent GST reforms in the country. He added that he visited a far-flung area of Doda where all Communities live together and no one from any community opposed the GST reforms. Speaking to the media after attending a programme on GST reforms in Jammu and Kashmir's Udhampur, Union Minister Singh said, "Wherever we went to any section of society, we saw happiness there, and since Doda's society is multifaceted, there was no section here that had a different opinion about GST; every se ...Read More >
The recent GST reforms will spur market consumption and boost the domestic economy, Minister of State for Finance Pankaj Chaudhary said on Monday. He said the impact of these reforms will be known in the next four to six months. Chaudhary interacted with businessmen, entrepreneurs, and tax experts in Indore regarding the Goods and Services Tax reforms. "Prime Minister Narendra Modi believes that when GST reforms bring additional money into the hands of the common people, it will definitely boo ...Read More >
The government has disbursed a GST refund of Rs 738 crore so far under this initiative, the CM said. Delhi Chief Minister Rekha Gupta on Friday announced that traders across the Capital have begun receiving their GST refunds ahead of Diwali. The government has disbursed a GST refund of Rs 738 crore so far under this initiative, the CM said. ARTICLE CONTINUES BELOW VIDEO Further, Gupta said that the Department of Trade and Taxes has successfully cleared pending refund cases amounting to Rs 1,00 ...Read More >
New Delhi: With robust tax collections from imports, domestic sales and purchases, India's gross goods and services tax (GST) collections jumped 8.8 per cent year-on-year to cross the Rs 2 lakh crore, registering the third highest monthly collection in the 2025-26 fiscal. At the same time, the net GST revenue for March 2026 stood at about Rs 1.78 lakh crore, posting an annual growth of 8.2 per cent after accounting for refunds, the government said on Wednesday. As per the finance ministry's data, the March 2026 GST revenue witnessed the third-highest collection in the 2025-26 fiscal (April-Ma ...Read More >
New Delhi: Starting July 2025, goods and services tax or GST compliance will undergo a shift with two key changes -- locking of GSTR-3B forms and a three-year deadline for filing returns. These changes, introduced by the GST Council, aim to improve accuracy and transparency in return filing, while reducing mismatches and fraudulent claims. The move is aimed at ensuring consistency between GSTR-1 (which records outward supplies) and GSTR-3B (used to pay tax), reducing revenue leakages due to mismatches. As per the GST rule, from the July 2025 return period, the GSTR-3B form will become non-edi ...Read More >
NEW DELHI: The GST Council is likely to address the inverted duty structure on notebooks and textbooks in its upcoming meeting, as the issue has been diminishing the benefits of recent tax cuts. Notebook and textbook prices may remain high, despite them being exempted from Goods and Services Tax (GST), because 18 per cent GST is charged on the paper used to produce them, which manufacturers cannot claim as an input tax credit. This anomaly raises cost and pushes up final prices, sources familiar with the matter said. An inverted duty structure arises when input materials attract a higher GST ...Read More >
New Delhi [India], September 30 (ANI): The Enforcement Directorate (ED) has attached 10 immovable West Bengal-based properties valued at Rs 15.41 crore that belong to Amit Gupta, one of the masterminds of a large-scale GST fraud syndicate, and his associates. ED's Ranchi Zonal Office attached these properties in Kolkata and Howrah on September 29 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. Also Read | Durga Puja 2025: Devotees Gather at Temples To Offer Prayers on Maha Ashtami Across West Bengal (Watch Videos). https://x.com/dir_ed/status/1972968969436041365 ...Read More >
Mumbai, June 29 (SocialNews.XYZ) Tata Steel on Sunday said it has received a show-cause-cum-demand notice from the tax department over an alleged irregular use of input tax credit worth over Rs 1,000 crore for the financial years 2018-19 to 2022-23. In a filing to the stock exchanges, the company said that the notice was issued by the Office of the Commissioner (Audit), Central Tax, Ranchi, on June 28. "On June 28, Tata Steel Limited received a Show Cause cum demand Notice dated June 27, issued by the Office of the Commissioner (Audit), Central Tax, Ranchi, proposing to disallow/demand prima ...Read More >
ITANAGAR, 15 Jul: Chief Minister Pema Khandu on Tuesday said that the state has witnessed significant economic transformation over the past decade, with the gross state domestic product (GSDP) recording a 166 percent increase between 2014 and 2024-25. Highlighting the state's progress under his government's reform-oriented policies, Khandu said the number of goods and services tax (GST) taxpayers has gone up by 141 percent since 2017-18, while per capita income has risen by 105 percent since 2016. "Arunachal Pradesh is marching ahead with strong economic indicators," the chief minister poste ...Read More >
Mumbai : Tesla's long awaited India debut finally took place with chief minister Devendra Fadnavis inaugurating its showroom in Mumbai on Tuesday. The Elon Musk-led car maker unveiled its Model Y compact all-electric SUV at its 'Experience Centre' in Bandra-Kurla Complex with the CM describing it as the "right city and the right state" for the launch."Mumbai stands for innovation and sustainability. In 2015, when I went to the US, I had my first ride in a Tesla, and then I thought we need such a vehicle for mobility in India. But it took 10 years for it to come to India. But we are very happy ...Read More >
Srinagar: The Counter-Intelligence Kashmir (CIK) unit of Jammu and Kashmir Police is conducting searches at ten locations across four districts in the Valley. An official told news agency -- Kashmir News Observer (KNO) that the raids are part of an ongoing investigation into a terror-crime case linked to a terrorist sleeper cell and recruitment module handled by Jaish commander Abdullah Ghazi from across the border. The searches are underway at one location in Pulwama, six in Ganderbal, one in Srinagar, and two in Budgam district -- (KNO) ...Read More >
Gross Goods and Services Tax (GST) collections rose 7.5 per cent year-on-year to Rs 1.96 lakh crore in July (for sales in June), data released by the government on Friday showed. Even though the pace of growth in gross GST collections picked up to 7.5 per cent in July from 6.2 per cent, this is the second consecutive month wherein the growth rate has been in single digits and much lower after posting double-digit growth in the first two months of the ongoing financial year. ARTICLE CONTINUES BELOW VIDEO Net GST collections, after accounting for refunds, took a hit by growing by just 1.7 per ...Read More >
New Delhi [India], September 16 (ANI): Consumers will get the benefits of reduced GST on medicines that have been manufactured and on chemist shelves before the new rates are implemented from September 22. The sweeping GST reforms unveiled on September 3, among other measures by the central government, have provided a substantial relief on health care, with taxes being either fully exempted or brought down to the lowest slab. Since then, there has been a widespread query about what will happen to medicines already in the supply chain before the new GST rates come into effect. Is it required ...Read More >