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The 56th GST Council meeting in New Delhi, chaired by Finance Minister Nirmala Sitharaman, focused on amending GST slabs, easing compliance, and executing next-generation GST reforms. FMCG, auto, and cement sectors are expected to benefit under the proposed tax cuts, ensuring relief for consumers. The first day of the meeting on 3rd September revolved around […]
In August, India collected Rs 1.86 lakh crore as Goods and Services Tax (GST), which is 6.5% more compared to the same month last year, as per the data specified. But the number is not more than July’s Rs 1.96 crore. The highest-ever GST collection at Rs 2.37 lakh crore was seen in April 2025. […]
The Goods and Services Tax Council, led by Finance Minister Nirmala Sitharaman, is likely to roll out new tax slabs for goods by September 22, according to information from government sources shared with NDTV. On August 15, Prime Minister Narendra Modi announced that bring next-generation GST reforms that will facilitate tax load on the country. […]
In July 2025, India’s Goods and Services Tax (GST) collections surged to ₹1,95,735 crore, marking a 7.5% year-on-year increase from ₹1,82,075 crore in July 2024, according to provisional data from the Finance Ministry. The rise was driven by higher domestic transactions and import collections, indicating continued economic activity, although the pace of growth has moderated. […]
The Madras High Court has annulled the order requiring the reversal of input tax credit (ITC) against a sole proprietor. The court has instructed the GST authorities to process any applicable refunds for amounts that have already been collected. The department reversed the input tax credit of the applicant, Rajkumar Josephshine, citing a limitation u/s […]
The Gujarat HC order states that GST officers administering summons or detention memos do not require cross-checking by the assessee. Justices Bhargav D. Karia and Pranav Trivedi stated that the taxpayer wished to cross-examine individuals from the department who had either issued the summons or the arrest memo. These persons do not need to be […]
CBDT, via Circular No. 10/2025, has allowed the reprocessing of e-filed income tax returns (ITRs) that were mistakenly treated as invalid by the CPC in Bengaluru. The CBDT has used its officials under section 119 of the Income-tax Act, 1961, to relax the time limit specified in Section 143(1). The same move has arrived to […]
On the Income Tax Bill, 2025, the 31-member select committee of the Lok Sabha suggested over 30 amendments in the bill, along with the definitions, clarification on various deductions, as well as reinstatement of a few provisions dropped in the bill. The report of the committee headed by BJP leader Baijayant Panda was presented in […]
The CBDT has made Aadhaar-based OTP verification mandatory for taxpayers who wish to update their email ID or mobile number on the new ITR web 2.0 e-filing portal. The same updated rules have the motive to avert the unauthorised amendments to the taxpayer profiles. The contact information can only be modified by the rightful account […]
