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Net direct tax collections in the current financial year 2025-26 have experienced a noteworthy increase of 9.2%, reaching a total of ₹10.82 lakh crore. This growth can be attributed to a rise in both corporate and personal income tax revenue, as indicated by official data. In the corresponding period of 2024-25, there was a net […]
Shri Shivraj Singh Chouhan, Union Minister for Agriculture & Farmers’ Welfare, and Rural Development, will address a meeting to discuss GST reforms of the agriculture sector. The representatives of the Tractor and Mechanisation Association (TMA), Agricultural Machinery Manufacturers Association (AMMA), All India Combine Harvester Manufacturers Association (AICMA), Power Tiller Association of India (PTAI), and other […]
Recently, the government announced that reducing the Goods and Services Tax (GST) on the renewable energy value chain from 12% to 5% is projected to lower the annual power procurement costs for distribution utilities (discoms) nationwide by approximately Rs 3,000 crore. This change is expected to significantly support the financial sustainability of discoms and enhance […]
Starting Sept 22, 2025, the CBIC has announced that local delivery services, including those for groceries, food, and essential items ordered online, will be subject to an 18% Goods and Services Tax (GST). This change may lead to increased costs for consumers making online purchases. In its most recent FAQ, the CBIC clarified the application […]
A notification was issued by the Ministry of Finance on September 17, 2025, outlining the deadlines for submitting appeals to the GST Appellate Tribunal, which is the authority that handles disputes related to the Goods and Services Tax (GST). This is part of the rules established in the GST law that was enacted in 2017. […]
On Wednesday, the Ministry of Finance released a Gazette notification that updates the Goods and Services Tax (GST) rate framework in accordance with the Central Goods and Services Tax Act of 2017. This revision aims to enhance the efficiency and clarity of the GST system. The revised rate schedule supersedes the notification of June 28, […]
Now you can save some amount while you buy your daily groceries as Mother Dairy has declared a cut in the cost of select dairy products, including milk (tetra pack), butter, ice creams, and processed foods under the Safal brand. After the reforms in GST, the rate reduction has arrived, which shall come into force […]
The Income Tax Practitioners Association (ITPA), along with various legal and tax groups, has expressed strong disapproval of the Central Board of Direct Taxes (CBDT) for not extending the deadline for filing Income Tax Returns (ITRs). This decision comes after many taxpayers reported experiencing technical difficulties and other challenges while trying to file their returns. […]
What is the MCA ADT-2 Form? Companies use Form ADT-2 when they ask for approval from the Central Government for the removal of an auditor before the expiry of their term, u/s 140(1) of the Companies Act, 2013. A statutory auditor removal is not a simple internal decision; it needs a special resolution passed by […]
