- 30 Apr 2025 06:30 PM
- New
Carney’s election win in Canada can actually be called historic
Mark Carney’s Liberal Party victory in Canada’s federal elections may well be remembered as one of the biggest political turnarounds in electoral history. A year ago, Canada’s political landscape seemed to favour the Conservative Party, led by Pierre Poilievre. The seat tally in Canada’s House of Commons gives the Liberals a fourth consecutive term in power, as they’re within a whisker of the 172-seat majority mark, with the Conservatives lagging by two-dozen seats.
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- 29 Apr 2025 06:13 PM
- New
Akshaya Tritiya 2025: Looking to buy gold on auspicious day? See if Dubai or India gives you better rates
As we near the auspicious day of Akshaya Tritiya, you may be considering buying gold on the occasion. Check here to compare gold prices in Dubai and India to see which gives you better rates after GST and customs duty is added.
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- 29 Apr 2025 06:15 PM
- New
Indian economy showing resilience amid global uncertainties, says finance ministry
The ministry added in its latest economic review that the private sector and policymakers must be mindful of global risks and act urgently to prevent uncertainty from dampening momentum.
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- 28 Apr 2025 05:51 PM
Chartering the troubled waters of accommodation services under GST
Until last year, the hospitality and rental sectors benefitted from a broad tax exemption on renting residential dwellings. However, with effect from 15 July 2024, a separate conditional exemption was carved out for accommodation services, relieving these from the levy of goods and services tax, or GST.
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- 22 Apr 2025 06:28 PM
Central, state GST officers detect 25,009 fake firms fraudulently passing ₹61,545 cr ITC in FY25
New Delhi, Apr 21 (PTI) Central and state GST officers have detected 25,009 fake firms involved in fraudulently passing input tax credit (ITC) worth ₹61,545 crore during 2024-25, officials said.
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- 22 Apr 2025 06:32 PM
Gold hits ₹1 lakh: Netizens crown Indian women as best investors, calls them ‘lakhpati didis’
Gold prices surge amid the US-China trade war, hitting ₹99,380/10 gm, with retail prices approaching ₹1 lakh after GST. Netizens responded with mixed sentiments, with some praising women investors while expressing concerns over affordability.
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- 21 Apr 2025 06:48 PM
TCA Anant: How India’s statistical system could win the ongoing war of narratives
There has been a persistent narrative about the decline of the Indian statistical system. This is despite the fact that the National Statistical Organisation has introduced new sample surveys and increased the periodicity of older ones. Similar developments have occurred in major partner ministries such as labour, education and health. In addition, the availability and accessibility of statistical data have improved significantly over the last decade.
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- 21 Apr 2025 06:53 PM
No GST on UPI Payments Above ₹2,000: Govt Clarifies
Source: https://taxguru.in/goods-and-service-tax/gst-upi-payments-rs-2000-govt-clarifies.html
The Ministry of Finance has dismissed claims suggesting the Government is planning to impose Goods and Services Tax (GST) on Unified Payments Interface (UPI) transactions exceeding ₹2,000. It clarified that such reports are baseless and misleading, and no such proposal is under consideration. GST is only applicable on payment-related charges like the Merchant Discount Rate (MDR). However, since January 2020, MDR has been waived on person-to-merchant (P2M) UPI transactions, making them exempt from GST. To support the growth of UPI-based digital payments, the Government has implemented an Incentive Scheme since FY 2021–22. This scheme aims to offset transaction costs for small merchants and enhance adoption by supporting low-value P2M transactions. The incentive allocations have steadily increased from ₹1,389 crore in FY 2021–22 to ₹3,631 crore in FY 2023–24, underscoring continued support for digital payment systems. The impact of these efforts is evident in India’s growing digital transaction volumes. As per ACI Worldwide’s 2024 report, India accounted for 49% of global real-time transactions in 2023. UPI transaction values surged from ₹21.3 lakh crore in FY 2019–20 to ₹260.56 lakh crore by March 2025. Notably, P2M transactions alone reached ₹59.3 lakh crore, reflecting increased usage among both merchants and consumers.
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- 19 Apr 2025 05:38 PM
GST rate rationalisation: Is there a second wind coming?
The Indian government is contemplating Goods and Services Tax (GST) rate rationalisation, aiming to simplify the existing four-slab structure. While discussions involve consolidating rates and potentially eliminating the 12% slab, challenges persist in balancing revenue collection and minimising the tax burden on essential goods.
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- 19 Apr 2025 05:34 PM
Penalise officers demanding unnecessary documents for GST registration: CBIC
The apex authority for indirect taxes issues instructions to reduce the compliance burden on taxpayers
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