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Besides, The Central Excise (Amendment) Bill, 2025, and 'The Health Security se National Security Cess Bill, 2025' are listed for introduction by Finance Minister Nirmala Sitharaman in the Lok Sabha on Monday. The government has listed nine economic bills, including a bill to amend Insurance Laws and two others to levy tax and cess on sin goods like tobacco and pan masala, for the Winter Session of Parliament beginning Monday. Also, the first batch of Supplementary Demands for Grants for 2025- ...Read More >
New Delhi [India], September 26 (ANI): Indian households are set to benefit from tax savings of up to 27 to 30 per cent under the new GST 2.0 regime, according to a report released by the Federation of Indian Chambers of Commerce and Industry's Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (FICCI CASCADE) along with the Thought Arbitrage Research Institute (TARI). The joint report, titled "Decoding the Journey of GST Reforms: GST and Its Effect on Economy, Bus ...Read More >
New Delhi [India], September 26: In a significant move aimed at boosting the automobile sector, the Government of India has recently announced a reduction in Goods and Services Tax (GST) rates across various vehicle categories. This change is expected to make vehicles more affordable, especially in the small and medium segments, thereby encouraging first-time buyers and expanding household mobility. * This makes them more accessible for first-time buyers and enhances mobility for households. * ...Read More >
LITTLETON, Colorado, Sept 23 (Reuters) - Global shipments of thermal coal - used for power generation - climbed to their highest levels since late 2024 in August on the back of strong import orders by China, Japan and South Korea. The jump in coal purchases came after nine straight months of year-over-year declines in monthly coal exports, which had raised expectations that 2025 may mark the first full-year contraction in global coal trade since 2020. A combination of reduced domestic coal pro ...Read More >
Auto companies have urged the government to allow either an adjustment of accumulated cess with tax liabilities or a refund, warning that otherwise the credits will have to be reversed in their accounting books. Automobile manufacturers are staring at a potential write-off of around ₹2,500 crore in accumulated compensation cess credits, which will lapse on September 22 when the new GST 2.0 rates take effect, as per PTI. Currently, automobiles attract GST at 28 per cent -- the highest slab -- p ...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 >
New Delhi, July 2 (SocialNews.XYZ) The Central Board of Direct Taxes (CBDT) has increased the cost inflation index (CII) used for calculating inflation-adjusted asset prices, allowing taxpayers to claim greater relief on long-term capital gains. As per the latest notification, the CII has been revised to 376 for the financial year 2025-26 (FY26), up from 363 in the previous year. The cost inflation index helps adjust the purchase price of an asset to account for inflation. This adjustment red ...Read More >
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 ...Read More >
The GoM on GST has proposed raising taxes on sin goods like cigarettes, tobacco, and aerated beverages to 35% from the current 28%, impacting stocks like ITC and Godfrey Phillips. (Read more below) The Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalization has proposed significant changes to tax rates, sparking debates and market reactions. Among the headline recommendations is a steep tax hike for sin goods like aerated beverages, cigarettes, and tobacco products, raisin ...Read More >
Despite its vast potential, the full capabilities of GST data remain largely unrealised. While aggregate data provides a broad overview of tax performance and health of the Indian economy, disaggregated sector-wise information is crucial for evidence-based policymaking. A closer look at the performance of GST revenue collection raises several questions. First, though the growth of GST revenue collection improved in the last seven years (13 per cent) compared to the pre-GST period 2012-17 (11.8 ...Read More >
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