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Defending the farmer society, Congress member Uttam Kumar Reddy pitched to the government to reduce the GST to zero on fertilizers and other agricultural machine markets. Uttam Reddy says, the GST rates on the cost of fertilizers and agricultural machinery should either be ‘Zero’ or on the lowest GST slabs. Proclaiming the circumstances of the […]
The Telangana High Court has held that revenue generated from the sale of tissue-cultured plants is categorised as farming income and is thus exempt from income tax under section 10(1) of the Income Tax Act, 1961. The Bench of Justice P. Sam Koshy and Justice Narsing Rao Nandikonda has said that the statutory test is […]
The Allahabad High Court, production of toll plaza receipts is not mandatory to establish the actual movement of goods when transactions are supported by valid e-way bills, tax invoices, banking-channel payments, and proper disclosure in GST returns. The Court then ruled that State GST authorities could not investigate or adjudicate cases of Central GST taxpayers […]
The Bombay High Court’s ruling has been kept by the Apex court, which restored the assessing officer’s 100% addition of Rs 20.06 crore as fake purchases u/s 69C, dismissing the Special Leave Petition. The court, post-hearing the counsel and analysing the record, does not discover any reason to interrupt with the findings of the High […]
Bangalore ITAT has given a relief to the landowner who reported Rs 1.82 crore income from mango sales, after the Income Tax Department added Rs 1.20 crore as unexplained cash credit under section 68 of the Income Tax Act. The case comprises a taxpayer from Chittoor district, Andhra Pradesh, who owned around 22 acres of […]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has overturned an assessment made by the Assessing Officer (AO), which had classified a cash deposit of Rs. 8,00,000 as ‘income from other sources.’ The Tribunal determined that this amount was actually derived from the sale of casuarina trees, leading to the deletion of the […]
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 […]
In India, the Goods and Services Tax (GST) system represents a significant step in easing the collection of taxes on goods and services. An update has been launched by the government called GST 2.0, which revises the way taxes are structured to make the system simpler to comprehend, transparent, and effectively suited to the requirements […]
On Wednesday, August 20, 2025, Finance Minister Nirmala Sitharaman is set to address an important meeting with a group of state ministers. During this meeting, she will advocate for significant reforms to the Goods and Services Tax (GST). These proposed changes aim to lower tax rates, which could subsequently result in reduced prices for commonly […]
