05 Aug 2025 05:35 PM
New

Mint Quick Edit | PAN 2.0 tax platform: Digital diligence please

Source: https://www.livemint.com/opinion/quick-edit/mint-quick-edit-pan-2-0-tax-platform-digital-diligence-lti-mindtree-income-tax-department-taxpayer-identity-aadhaar-11754281547747.html

LMIMindtree won the contract for this taxpayer identity system’s digital upgrade. Let’s hope lessons were learnt from the rushed GST rollout. PAN 2.0 should be pre-tested well.

05 Aug 2025 05:28 PM
New

GST evasion of over ₹7 trillion detected in five years: Centre

Source: https://www.livemint.com/economy/7-trillion-of-gst-evasion-detected-in-five-years-says-government-pankaj-chaudhary-11754321294160.html

The increase in tax evasion detected coincides with an expansion of data collection and reporting requirements implemented by the tax administration

04 Aug 2025 06:19 PM
New

Indian stock market: 10 things that changed for market over weekend - Gift Nifty, US jobs data, gold prices to crude oil

Source: https://www.livemint.com/market/stock-market-news/indian-stock-market-10-things-that-changed-for-market-over-weekend-gift-nifty-us-jobs-data-gold-prices-to-crude-oil-11754239180331.html

Indian stock market: Gift Nifty was trading around 24,686 level, a premium of nearly 58 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

04 Aug 2025 06:13 PM

Profiteering worries cast cloud over GST cuts

Source: https://www.livemint.com/economy/profiteering-worries-cast-cloud-gst-council-tax-rate-cuts-gstat-11754212236740.html

The spectre of profiteering is holding back a new round of tax cuts, as the federal council for indirect taxes fears businesses will pocket the savings instead of passing them on. At stake is lower taxes on insurance premiums and an end to the 12% GST slab, two proposals that have gained broad support in recent times.

02 Aug 2025 04:00 PM

GST mop-up at ₹1.96 trillion in July, but higher refunds slow net revenue growth

Source: https://www.livemint.com/economy/gst-collection-july-2025-refunds-net-revenue-growth-11754051839004.html

India’s GST revenue grew 7.5% on year in July, but a sharp surge in refunds pushed net growth down to just 1.7%, suggesting stability in online refund mechanism and relief to businesses.

01 Aug 2025 06:40 PM

No GST on UPI Transactions Over ₹2000 – Government clarifies

Source: https://taxguru.in/goods-and-service-tax/gst-upi-transactions.html

In response to a Rajya Sabha question from Shri Anil Kumar Yadav Mandadi, the Ministry of Finance addressed the possibility of levying GST on UPI transactions exceeding ₹2000. The Minister of State in the Ministry of Finance, Shri Pankaj Chaudhary, clarified that decisions regarding GST rates and exemptions are made based on the recommendations of the GST Council.

01 Aug 2025 05:55 PM

Government Clarifies GST on Flex-Fuel Vehicles

Source: https://taxguru.in/goods-and-service-tax/government-clarifies-gst-flex-fuel-vehicles.html

In a Lok Sabha response, Minister of State for Finance, Shri Pankaj Chaudhary, addressed questions regarding the GST on flex-fuel vehicles. The minister confirmed that the government is promoting alternative fuels through various measures, including revised guidelines for fuel marketing companies and emission norms for vehicles. Notably, a concessional GST rate of 5% has been applied to ethanol and biodiesel supplied for blending.

01 Aug 2025 05:58 PM

Government clarifies Raids & Inspection by GST Wing

Source: https://taxguru.in/goods-and-service-tax/government-clarifies-raids-inspection-gst-wing.html

The Indian government has provided details on GST raids and inspections in a response to an unstarred question in the Lok Sabha. The Ministry of Finance clarified that GST officers conduct inspections, searches, and seizures under Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, and corresponding State GST Acts.

01 Aug 2025 05:50 PM

GST on Residential Apartment Maintenance Charges

Source: https://taxguru.in/goods-and-service-tax/gst-residential-apartment-maintenance-charges.html

In a response to a Lok Sabha starred question, Finance Minister Nirmala Sitharaman clarified the government’s stance on GST for apartment maintenance charges. She stated that GST compliance requirements do not fall on residents but on apartment associations, which are considered service providers. Services provided by associations are exempt from GST if the monthly maintenance charge is up to ₹7,500 per member. Associations are only required to register and pay GST if their aggregate turnover exceeds the threshold of ₹20 lakh (₹10 lakh in special category states) and the charges are above ₹7,500 per month per member. The minister noted that the GST Council, a body with members from both the Centre and states, sets all GST rates and exemptions, including the 18% rate on maintenance charges over ₹7,500.

01 Aug 2025 06:01 PM

18% GST Fixed on Airline User Development Fees: Govt Clarifies

Source: https://taxguru.in/goods-and-service-tax/18-percent-gst-fixed-airline-user-development-fees-govt-clarifies.html

In a response to an unstarred question in the Lok Sabha, the Ministry of Finance provided clarification on the Goods and Services Tax (GST) rate for User Development Fees (UDF). Responding to a question from Shri Matheswaran V S, the Minister of State for Finance, Shri Pankaj Chaudhary, stated that a GST rate of 18% is applicable on the UDF. The minister’s response also clarified that airline operators collect this fee as an agent on behalf of the airport operator. GST rates and exemptions are prescribed on the recommendations of the GST Council, a constitutional body comprising representatives from both the Union and State/UT Governments. The provided answer confirms the current rate and the collection mechanism but does not detail any changes since 2017.