- 22 Jul 2025 06:41 PM
- New
No GST rate Cut Yet on Mango Pulp – Govt Clarified
Source: https://taxguru.in/goods-and-service-tax/gst-rate-cut-mango-pulp-govt-clarified.html
In response to a query raised in Lok Sabha regarding the high GST rate on mango pulp, the Ministry of Finance clarified that the current 12% GST rate is based on the GST Council’s recommendation, which includes representatives from both the Centre and States. Concerns were raised that this rate has led to a decline in demand from beverage companies, potentially impacting mango growers, particularly in Tamil Nadu.
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- 22 Jul 2025 06:31 PM
- New
Commerce ministry weighs GST rationalization for motion-lit toys
The global toy market is projected to reach $179.4 billion by 2032.
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- 22 Jul 2025 06:34 PM
- New
Supreme Court to examine service tax on Reliance charter flights for executives
The tax department argued that Reliance Commercial Dealers Ltd is effectively renting aircraft to Reliance, which should attract higher taxes like equipment rentals.
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- 21 Jul 2025 05:26 PM
GST officers detect ₹15,851 cr fraudulent ITC claims in April-June, 3,558 fake firms uncovered
New Delhi, Jul 20 (PTI) GST officers have uncovered fake input tax credit (ITC) claims of ₹15,851 crore in the April-June quarter of current fiscal, a 29 per cent jump over the year-ago period, even though the number of fake firms detection was less Y-o-Y, officials said.
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- 21 Jul 2025 05:30 PM
Centre, states close to agreeing on rolling cess into GST
The Centre and states are close to agreeing on folding the GST compensation cess within the broader goods and services tax (GST), two people aware of discussions in the government said. The two sides are also close to reaching an agreement on how to utilize the surplus cess collected, likely by dividing between them.
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- 19 Jul 2025 04:48 PM
BCCI invites proposals for accreditation services; how to procure RFP documents? What's eligibility criteria? Details
The BCCI has invited proposals for accreditation services with details of how to procure RFP documents and the eligibility criteria. The last date of submission of proposal documents is August 4, 2025.
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- 18 Jul 2025 05:19 PM
Clarification for traders transacting via UPI and Registration Requirement
The Department of Commercial Taxes, Benqaluru issued a press note on 11th July 2025 clarifying issues surrounding GST registration requirements for traders transacting via digital payment gateways. This clarification follows widespread confusion after media reports. Under Section 22 of the GST Act, 2017, GST registration is mandatory for businesses exceeding ₹40 lakhs in annual turnover for goods and ₹20 lakhs for services, regardless of the payment mode (cash, UPI, POS, etc.). Tax is levied only on taxable goods and services, after input tax credit adjustment. Businesses with turnover below ₹1.5 crore can opt for the composition scheme and pay GST at a lower rate (1%), but this is only available after registration. Officers have been instructed to guide and assist taxpayers, verify submitted documents, and ensure that registration processes are smooth. So far, over 98,000 taxpayers are registered under the composition scheme. Notices have been issued to unregistered traders exceeding the turnover threshold, but they account for less than 10% of registered composition dealers. The department also observed that some traders have shifted from UPI to cash post-notices; however, GST liability applies regardless of the mode of payment. Traders are urged not to panic and to comply with GST laws.
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- 17 Jul 2025 05:37 PM
Simplify GST: It’s time for a single all-India identification mandate
The goods and services tax (GST), which recently completed eight years in India, was originally envisioned as a “good and simple tax." However, over time, it has become increasingly complex. While a national GST would have been an ideal value added tax (VAT) system, the imperatives of a federal structure led to a compromise, resulting in a dual GST system comprising Central GST (CGST), State GST (SGST) and Integrated GST (IGST).
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- 16 Jul 2025 06:42 PM
Consumer dissonance: Focus policy on market rivalry instead of pricing strategy
In a country of highly price-conscious consumers, even a liberalized economy must endure an itch for price control that seems to surface in policy circles every few years. The latest instance is an idea reported to have popped up as part of a proposal to revise India’s MRP system. Under it, as of now, consumer-facing companies must display a ‘maximum retail price’ on a product’s pack above which it cannot legally be retailed.
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- 16 Jul 2025 06:46 PM
DGGI Uncovers Rs 266 Crore Invoice Fraud, six shell companies
The Directorate General of GST Intelligence (DGGI) Bengaluru Zonal Unit uncovered a network of six shell companies involved in fraudulent activities, leading to the arrest of the alleged mastermind. Investigations, stemming from an initial case in Bengaluru and extending to searches in Delhi, revealed fraudulent invoices totaling over Rs. 266 crore. This operation also exposed the illegal claiming and passing on of Rs. 48 crore in fraudulent Input Tax Credit (ITC). The mastermind reportedly established these shell entities without actual business operations, engaging in circular trading to inflate turnover and listing one company on the stock exchange to facilitate the ITC fraud. Evidence collected, including original invoices and company seals found at the mastermind’s premises, linked the individual—who at times served as a Chartered Accountant/statutory auditor and director—to the origin and management of these shell companies. The DGGI has commenced a thorough investigation into this fraud, noting its potential impact on investors in listed companies, and has shared intelligence with SEBI for action under the SEBI Act.
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