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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 mism ...Read More >
New Delhi: On July 1, 2025, the Goods and Services Tax (GST) will complete eight years since its rollout. It was introduced in 2017 as a major step towards economic integration. GST replaced a maze of indirect taxes with a single and unified system. It made tax compliance easier, reduced costs for businesses and allowed goods to move freely across states. According to the government, by improving transparency and efficiency, GST helped lay the foundation for a stronger and more integrated econom ...Read More >
India's Goods and Services Tax (GST) collections have doubled in the past five years, reaching a record ₹22.08 lakh crore in FY25, a 9.4% year-on-year growth. The average monthly GST collection in FY25 stood at ₹1.84 lakh crore, improving from previous years. Since its launch in 2017, GST has seen consistent growth, with registered taxpayers rising to over 1.51 crore.India's gross Goods and Services Tax (GST) collections have doubled over the past five years to reach a record ₹22.08 lakh crore i ...Read More >
New Delhi, Jun 30 (PTI) Gross GST collections doubled in five years to reach an all-time high of Rs 22.08 lakh crore in the 2024-25 fiscal year, from Rs 11.37 lakh crore in FY21, government data showed on Monday. The gross goods and services tax (GST) collections touched its highest-ever level of Rs 22.08 lakh crore in 2024-25, registering a 9.4 per cent growth over the previous fiscal year. The average monthly collection stood at Rs 1.84 lakh crore in FY25, up from Rs 1.68 lakh crore in FY24 ...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 nati ...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, issue ...Read More >
New Delhi, June 7 (SocialNews.XYZ) The Central Consumer Protection Authority (CCPA) on Saturday issued an advisory to all e-commerce platforms to undertake a self-audit within three months to detect deceptive and unfair trade practices that are in the nature of dark patterns. Dark patterns are design elements used on websites and apps to mislead or coerce users into making unintended choices. These practices erode consumer trust, distort fair market dynamics, and pose a serious threat to the in ...Read More >
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 ...Read More >
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 th ...Read More >
MUMBAI : The Securities and Exchange Board of India (Sebi) has impounded an amount of ₹53.6 crore as illegal investment advisory fees under the garb of providing educational courses from Asmita Patel Global School Of Trading and other entities connected with financial influencer Asmita Patel, who is known as "options queen" and "she-wolf" of Indian stock markets. The Thursday order was issued against Asmita Patel Global School of Trading as noticee No. 1, its director Asmita Patel as noticee No ...Read More >
Mumbai, Feb 5 (PTI) GST authorities have imposed penalties totalling Rs 115.86 crore on IndiGo, the airline said in a regulatory filing on Wednesday. According to the filing, the penalty order was passed on February 4. Of this, Rs 113.02 crore pertains to services provided to offshore recipients, which the goods and services tax (GST) authorities did not consider as "export of services", and denied input tax credit on certain services for FY18, FY19, and FY20 while the remaining Rs 2.84 crore ...Read More >
Mumbai, Feb 5 (PTI) GST authorities have imposed penalties totalling Rs 115.86 crore on IndiGo, the airline said in a regulatory filing on Wednesday. According to the filing, the penalty order was passed on February 4. Also Read | TS TET Result 2025 Declared at tstet2024.aptonline.in, Know Steps To Download Telangana Teacher Eligibility Test Scorecard. Of this, Rs 113.02 crore pertains to services provided to offshore recipients, which the goods and services tax (GST) authorities did not cons ...Read More >
The Centre has detected goods and services tax (GST) evasion worth Rs 824.14 crore by crypto exchanges, such as Binance, WazirX, CoinDCX, and CoinSwitch Kuber, the Lok Sabha was informed. However, it has recovered only Rs 122.29 crore, including interest and penalty. In a written reply on Monday, Minister of State for Finance Pankaj Chaudhary said the Binance group company accounted for the largest amount of GST evasion, worth Rs 722.43 crore, but no recovery has been made by the finance minis ...Read More >
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