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Vijayawada: In a significant fiscal milestone, AP government has announced its highest-ever collection of net goods and services Tax (GST) in the first quarter of 2025-26, ever since GST came into force. In a press release on Tuesday, Commercial Taxes chief commissioner (State Taxes) Babu A. informed that during the first quarter of 2025-26 financial year, Andhra Pradesh has recorded net GST collections of ₹8,860 crore, marking a 3.40 per cent growth. At the same time, the total tax collection ...Read More >
Jammu, July 01: The Goods and Services Tax (GST), introduced across India on July 1, 2017, marked a transformative shift in the country's indirect tax regime, replacing a complex web of central and state taxes with a unified, consumption-based tax system.In Jammu and Kashmir, the implementation of GST faced distinct challenges but has since played a pivotal role in fostering economic integration and growth.Unlike other states, J&K required specific legislative measures to adopt the Central Goods ...Read More >
New Delhi, July 1 (SocialNews.XYZ) India's Goods and Services Tax (GST) system has emerged as one of the biggest success stories in the last decade, reflecting a growing formal economy and rising compliance, noted economist and former IMF Executive Director, Dr Surjit Bhalla, said on Tuesday. In an exclusive interaction with IANS, Bhalla highlighted that GST has not only increased tax revenue significantly but has also brought more businesses and individuals under the formal tax net. "The GST ...Read More >
India's Goods and Services Tax (GST) collection soared 6.2% year-on-year in June 2025 to cross ₹1.85 lakh crore, compared to ₹1.74 lakh crore in June 2024, according to government data released Tuesday. This strong performance highlights India's resilient economy, growing tax revenue, and improving GST compliance amid global uncertainties. Monthly Dip from May Despite the YoY surge, June's GST mop-up slipped below May's ₹2.01 lakh crore and the all-time record of ₹2.37 lakh crore in April 202 ...Read More >
The Maharashtra Motor Vehicle Tax (Amendment) Act, 2025, came into effect on July 1, 2025. This new law has increased the one-time tax rates for new vehicle registrations across the state. The revised tax rates will impact buyers of new petrol, diesel, CNG, and LNG vehicles, as well as commercial and construction vehicles. These are the new changes under the new structure: 1. Petrol cars registered in an individual's name will be taxed at 11% for vehicles under INR 10 lakh, 12% for those price ...Read More >
New Delhi, July 1 (SocialNews.XYZ) Prime Minister Narendra Modi on Tuesday said that eight years have passed since GST was introduced, and 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", PM Modi stated. "GST has also served as a powerful engine for economic growth, while fostering true cooperative federalism by making states eq ...Read More >
New Delhi, Jul 1 (PTI) On the eighth anniversary of the Goods and Services Tax (GST) roll out, Prime Minister Narendra Modi on Tuesday said the indirect tax regime stands out as a landmark reform that has reshaped India's economic landscape. He said on X, "By reducing the compliance burden, it has greatly improved the ease of doing business, particularly for small and medium enterprises. GST has also served as a powerful engine for economic growth, while fostering true cooperative federalism by ...Read More >
New Delhi, Jul 1 (PTI) With the Goods and Services Tax (GST) completing eight years, Congress leader Rahul Gandhi on Tuesday claimed that it is a "brutal tool of corporate cronyism" and asserted that a reformed GST must be "people-first, business-friendly, and truly federal in spirit". The Leader of the Opposition in the Lok Sabha said India deserves a tax system that works for all, not just the privileged few, so that every Indian, from the small shopkeeper to the farmer, can be a stakeholder ...Read More >
New Delhi, Jul 1 (PTI) The focus of the Goods and Services Tax (GST), which completes eighth year on Tuesday, will now be on promoting ease of doing business, ensuring stronger compliance and fostering broader economic inclusion, the finance ministry said. The GST, which was implemented from July 1, 2017, has unified 17 taxes and 13 cesses, creating a seamless national market by simplifying compliance and digitising tax systems. It has also expanded the taxpayer base and strengthened cooperativ ...Read More >
Maharashtra Assembly Monsoon Session: Nana Patole and other MVA legislators protested against alleged derogatory remarks by Agriculture Minister Manikrao Kokate and BJP MLA Babanrao Lonikar about farmers. Congress MLA Nana Patole was suspended for a day from the Maharashtra Legislative Assembly Tuesday after he climbed Speaker Rahul Narwekar's podium amid aggressive protests by the Opposition Maha Vikas Aghadi MLAs. On the second day of the Monsoon Session, MVA legislators staged a protest aga ...Read More >
CHENNAI: In a letter addressed to the Union Minister of Food Processing Industries, Chirag Paswan, Member of Parliament from Dravida Munnetra Kazhagam (DMK), Kanimozhi Karunanidhi has highlighted the problems faced by mango farmers in the country, especially in Tamil Nadu. She underlined the decrease in demand for mango produce by the beverage manufacturing companies and to cut down GST charges. The letter explained that the mango farmers have been facing consistent losses over the past few ye ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Gove ...Read More >
New Delhi: The ninth year of the Goods and Services Tax (GST), which begins on Tuesday, could actually see the much-awaited rationalisation of the rates, although the shrinking of slabs from four major ones to three is unlikely.While the tax regime stabilised over eight years, this is evidenced by consistent rise in collections - from a monthly average of a little over Rs 1.2 lakh crore to more than Rs 1.8 lakh crore - and the number of taxpayers increasing to over Rs 1.5 crore by March-end.Name ...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 >
Mumbai: Hindustan Unilever (HUL) chairman Nitin Paranjpe expects improvement in market conditions in the near and medium term, driven by better agricultural yield, lower inflation and normal monsoon forecast. "Rural economy should continue to do well, but the reduced inflation, along with the taxation changes, which puts more money in people's pockets, as well as some changes in the monetary policy, will benefit the economy and the sentiment in this market. As a result of which we should see an ...Read More >
Mr. Salim, a Bengaluru techie, faces hardship after a layoff, sparking debate about social security for India's middle class. Despite paying significant income tax, he received a minimal severance and feels abandoned by the government. His story highlights the vulnerability of salaried professionals and raises questions about the support system for those sustaining the economy.A Bengaluru-based tech professional, Salim (name changed), is at the center of an ongoing debate about the lack of socia ...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 >
Chennai, Jun 30 (PTI) The country's policies and initiatives were aimed at making India one of the leading nations in the cruise tourism sector, Union Minister Sarbananda Sonowal said on Monday. Prime Minister Narendra Modi, he said, gave a lot of emphasis whether it was modernisation or port-led connectivity, coastal community development, inland waterways, coastal shipping, and in every other sector so that India became one of the leading maritime nations in the world. "Public-private partne ...Read More >
New Delhi [India], June 30 (ANI): As India's Goods and Services Tax (GST) completes eight years since its launch in July 2017, a report by PwC highlights the key demands and reforms expected by the industry going forward. The report comes at a time when GST collections are exceeding Rs 2 lakh crore a month, prompting businesses and experts to push for changes to make the tax system simpler, more stable, and better aligned with a growing and evolving economy. According to the report, rate ratio ...Read More >
New Delhi [India], June 30 (ANI): As India's Goods and Services Tax (GST) completes eight years since its launch in July 2017, a report by PwC highlights the key demands and reforms expected by the industry going forward. The report comes at a time when GST collections are exceeding Rs 2 lakh crore a month, prompting businesses and experts to push for changes to make the tax system simpler, more stable, and better aligned with a growing and evolving economy. According to the report, rate ratio ...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 >
Thane, Jun 29 (PTI) Police have arrested a 30-year-old fruit seller for illegally possessing two country-made pistols in Maharashtra's Thane district, an official said on Sunday. Acting on a tip-off, the police's anti-extortion cell raided the man's premises at Bandarpada locality in Kalyan area on June 25, assistant police inspector Sunil Tarmale said. The police seized two country-made pistols and a live cartridge, valued at Rs 1.05 lakh, from the fruit seller, who had two previous criminal ...Read More >
New Delhi [India], June 29 (ANI): US-parented companies will be exempted from certain elements of an existing global tax agreement according to a statement released by the Group of Seven countires which detailed the new proposal signed by the United States and its G7 partners. The agreement will see US companies benefit from a "side-by-side" solution under which they will only be taxed at home, on both domestic and foreign profits, the G-7 said, in a statement released by Canada, which holds th ...Read More >
New Delhi, June 28 (SocialNews.XYZ) The government has extended the tenure of Ravi Agrawal as the Chairman of the Central Board of Direct Taxes (CBDT) by another year. The CBDT is the apex policymaking body of the Income Tax Department, and its chairman and members are senior Indian Revenue Service officers. "The Appointments Committee of the Cabinet has approved re-appointment of Ravi Agrawal, IRS as Chairman, Central Board of Direct Taxes on contract basis, for a period of one year with effec ...Read More >
New Delhi: July is a crucial month for tax compliance. Whether you're a salaried individual, a business owner, or a government office, several important tax deadlines fall this month. From TDS payments and certificate issuance to filing quarterly statements, staying on top of these dates is key to avoiding penalties. Although the ITR filing deadline for non-audited taxpayers has been extended to September 15, 2025, many related tasks still need to be completed in July. - TDS/TCS Payment for Jun ...Read More >
Mumbai (Maharashtra) [India], April 28 (/PRNewswire): KoinX, a leading provider of tax calculation software, is excited to announce the integration of XDC Network. XDC Network is one of the fastest-growing blockchain ecosystems around the globe with its Ethereum scalable solutions and encouraging developers to build real-world Dapps, tokenize assets on the most sustainable and energy-efficient networks. Governments worldwide are working to develop new tax regimes for the decentralized ecosystem ...Read More >
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