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New Delhi: The Central Board of Indirect Customs and Taxes (CBIC) has directed its field formations to track price changes for various commodities before and after the goods and services tax (GST) rate rationalisation, effective September 22, 2025. This price tracking will continue for at least six months. In a letter dated September 9, the CBIC instructed field formations to submit a report by the 20th of each month on approximately 54 commodities, including toiletries, consumer durable items ...Read More >
New Delhi: Road transport and highways minister Nitin Gadkari on Friday said the Centre and states could earn up to ₹40,000 crore in goods and services tax (GST) if all the 9.7 million unfit and polluting vehicles in the country are scrapped. A total of 300,000 such vehicles have been scrapped till August, including 141,000 government vehicles, said Gadkari, addressing the annual session of the Automobile Component Manufacturers Association of India (ACMA). "According to our estimate, there ar ...Read More >
New Delhi/Guwahati, Sep 12 (SocialNews.XYZ) The Enforcement Directorate (ED) has conducted search operations at 10 premises across five states including Delhi in connection with a multi-crore fake Input Tax Credit (ITC) fraud under the Prevention of Money Laundering Act (PMLA), 2002, the probe agency said on Friday. The Itanagar-based ED unit has carried out search operations on at 10 premises across Arunachal Pradesh, Delhi, Haryana, Tamil Nadu, and Telangana on Thursday in connection with a m ...Read More >
Piyush Goyal urges industry to pass on GST reduction benefits to consumers, anticipating boosted demand, exports, and economic growth. GST reforms, effective September 22, are expected to lower input costs for MSMEs and exporters, reducing inflationary pressures. India is also diversifying export markets amid US tariffs, exploring opportunities with countries like UAE and Singapore. Commerce and industry minister Piyush Goyal said he has asked industry to pass on the benefits of lower goods and ...Read More >
A Think Change Forum report advocates for GST 2.0 to adopt just two slabs -- 5% and 18% -- capping the peak rate at 18% to simplify the tax system. The report, released ahead of a GST Council meeting, suggests this move would boost consumption, improve compliance, and generate higher revenues by eliminating anomalies and reducing litigation. The long-term success of Goods and Services Tax (GST) depends on moving towards a single nationwide rate, and GST 2.0 should be the first step by adopting ...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 ma ...Read More >
New Delhi, Aug 28 (PTI) 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. Addressing shareholders at the company's 44th Annual General Meeting (AGM) here, the veteran industry leader also noted that reduction in GST on small cars would help in reviving the growth of the industry. "We are all aware of the global uncertainty that has been caused in rece ...Read More >
Aug 25 (Reuters) - Credit-rating firm Fitch maintained India's sovereign rating at 'BBB-' on Monday, citing levels of fiscal deficits and debt that are still high, crushing the government's hopes for a lift in ratings by all three major providers. This month, S&P upgraded India to 'BBB', its first such upgrade in 18 years, prompting the government to respond that it expected other rating houses to follow suit. Fitch has rated India at 'BBB-' since 2006, while Moody's has retained its 'Baa3' ra ...Read More >
MUMBAI: The proposed GST reforms, announced by the prime minister to be rolled out by Diwali, halving the current four-rate tax structure into two-tier regime at lower rates, though will lead to an estimated average revenue loss of Rs 85,000 crore per annum, will give a big boost to the for-long sagging consumption story to the tune of Rs 1.98 trillion, a report has said. The current GST structure consists of four main rate slabs: 5, 12, 18 and 28%. These rates apply to most goods and services. ...Read More >
NEW DELHI, Aug 15 (Reuters) - Indian Prime Minister Narendra Modi said on Friday the goods and services tax (GST) would be reformed and taxes lowered by Diwali, the Hindu festival of lights, set to be celebrated in October this year. "This Diwali, I am going to make it a double Diwali for you. Over the past eight years, we have undertaken a major reform in goods and services tax. We are bringing next-generation GST reforms that will reduce the tax burden across the country," he said during a sp ...Read More >
India's UPI system, despite its global success, faces backlash as small vendors receive GST notices based on digital transaction data. This has led to a shift back to cash transactions, with vendors fearing tax scrutiny. Concerns rise that aggressive formalisation efforts may push the informal economy further underground, undermining the goals of financial inclusion and transparency. By all official accounts, India's digital payments revolution is a runaway success. The Unified Payments Interfa ...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 th ...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 BE ...Read More >
NEW DELHI: The US embassy in India has warned that "committing assault, theft, or burglary in the United States won't just cause you legal issues -- it could lead to your visa being revoked and make you ineligible for future US visas". The warning was issued days after a video of an Indian woman who tried to leave a store with a cart full of items without paying went viral. This also prompted the embassy to say, "The US values law and order and expects foreign visitors to follow all US laws."Res ...Read More >
Akola: In a major crackdown on GST fraud, the Maharashtra State GST Department on Wednesday arrested Pratik Tiwari, a trader from Akola, for allegedly availing bogus Input Tax Credit (ITC) worth Rs9.97 crore through fake invoices without actual sale or purchase of goods. He was produced before a magistrate court and has been remanded to 7 days of judicial custody.Tiwari had registered his business under the names "Swami Sarth Kirana" and "Mahalaxmi Sales" from Dabki Road, Akola, dealing in cemen ...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 ...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 20 ...Read More >
Puri (Odisha) [India], July 14 (ANI): Renowned sand artist Sudarsan Pattnaik created a sand art at Puri beach on Sunday. He crafted a sand idol of Lord Shiva to mark the first Monday of the auspicious Sawan month. Sudarsan Pattnaik said, The entire nation is devotional for the first Shravan Somvaar. We have made Lord Shiv 6-feet high sculpture... In Puri Jagannath Dham, there is a temple of Lord Loknath, and here also, many devotees have arrived. As an artist, I am praying to God to bless us wi ...Read More >
Bengaluru: In a significant move to increase tax collections, the govt has begun using Unified Payments Interface (UPI) data to identify traders, especially those accepting payments via QR codes, who have evaded goods and services tax (GST) registration.After analysing UPI transactions, the commercial taxes department recently issued notices to some 14,000 traders. Officials say these individuals have crossed the mandatory GST registration thresholds but failed to register. Under GST rules, trad ...Read More >
SRINAGAR, July 11: Director General of Police (DGP), J&K, Nalin Prabhat today chaired a high-level security review meeting in South Kashmir to assess the arrangements for the ongoing Shri Amarnathji Yatra. The meeting was attended by DIG South Kashmir Range Javed Mattoo, SSPs of South Kashmir districts, and senior officers from the Indian Army, CRPF and BSF. Addressing the meeting, the DGP lauded the dedication of all security forces in ensuring the safe conduct of the Yatra. He stressed the ...Read More >
NEW DELHI: The GST Council, which will meet shortly, is expected to comprehensively review the eight-year-old regime focused on reducing tax on several consumer-focused items in the 12% bracket as well as lowering the burden on items such as air conditioners, which are in the top bracket.Besides, with the compensation cess - money released to states to offset any revenue loss because of switch to GST - due to end in March, a plan on imposing a cess on some of the sin goods, such as tobacco, is a ...Read More >
The industry has called for a cut in GST from 12 per cent to 5 per cent. "I have asked them to share the details with the Union finance ministry also. I will also talk and see how to bring (products) in the 5 per cent (GST) bracket... we will try to find a solution to this," he said, while addressing FTII Traders' Conclave in Srinagar. On Kashmiri apples, he said the industry has requested for more protection on this fruit, which at present attracts a minimum import price (MIP) Rs 50 per Kg an ...Read More >
Panaji: Chief Minister Pramod Sawant on Friday chaired a meeting of the group of ministers (GoM) on goods and services tax (GST) revenue analysis to review state-wise revenue trends and identify actionable strategies for improved GST collections. The meeting held in New Delhi also discussed sector-specific tax leakages and corrective action to curb over Rs 2 lakh crore input tax credit (ITC) frauds. The GoM identified ITC fraud as a major issue under GST, and states suggested various measures t ...Read More >
New Delhi: Amid the growing menace of Input Tax Credit (ITC) fraud which has crossed over Rs 2 lakh crore in recent years, a high-level group of ministers ( GoM ) lead by Goa CM Pramod Sawant met on Friday to assess the state of GST revenue collections and ways to prevent tax leakages. In this meeting, the finance ministers of several states discussed tax evasion and coordinated efforts to curb fraudulent practices. ...Read More >
New Delhi, Jul 3 (PTI) India's economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII President Rajiv Memani said on Thursday. Addressing his first press conference after taking over as the CII President, Memani made a strong case for simple three-tiered GST rate structure, with essential items attracting 5 per cent, luxury and sin goods at 28 per cent, and th ...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 Mad ...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 ye ...Read More >
New Delhi: Prime Minister Narendra Modi has remarked that eight years since GST was introduced, it stands out as a landmark reform that has reshaped India's economic landscape. "By reducing the compliance burden, it has greatly improved the Ease of Doing Business, particularly for small and medium enterprises", Shri Modi stated. The Prime Minister posted on X: "Eight years since it was introduced, GST stands out as a landmark reform that has reshaped India's economic landscape. By reducing the ...Read More >
Bhopal: A search by the Meghalaya police in a flat of father-in-law of Shalom James, an Indore-based property dealer arrested on charges of destroying evidence in the killing of Raja Raghuvamsi allegedly by his wife Sonam during their honeymoon in Shillong last month, in Ratlam in Madhya Pradesh, has yielded a laptop, a pen drive, jewelry and incriminating documents, believed to be belonging to the couple, sources said on Monday. The search was conducted in the flat of Manoj Gupta, father-in-la ...Read More >
New Delhi: With the completion of eight years, implementing the goods and services tax (GST) -- one of the country's biggest tax reforms, India has broken all the stereotypes by showcasing a perfect balance between Centre and state administrations and coming together to make decisions and resolve issues as well. Back on July 1, 2017, the GST was rolled out with a promise that the country will bring 'one nation, one tax' by merging various indirect taxes under one umbrella. As of today, it is pa ...Read More >
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