01 Aug 2025 06:26 PM
New

GST Collections Show 10.7% Growth in Q1 of FY 2025-26

Source: https://taxguru.in/goods-and-service-tax/gst-collections-show-10-7-percent-growth-q1-fy-2025-26.html

In response to a Rajya Sabha question from Shri Sanjay Seth, the Ministry of Finance provided details on GST collections and measures for small businesses. The Minister of State, Shri Pankaj Chaudhary, reported that the average monthly GST collection for the first quarter of the current financial year (FY 2025-26) was ₹1,80,774 crores, representing a 10.7% growth over the same period in the previous fiscal year.

01 Aug 2025 05:58 PM
New

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 06:31 PM
New

No GST Rate Increase on Essential Drugs Since April 2025

Source: https://taxguru.in/goods-and-service-tax/high-gst-lifesavers-drugs.html

In a response to a Rajya Sabha question regarding an alleged increase in GST rates on essential drugs, the Ministry of Finance provided clarification. The Minister of State, Shri Pankaj Chaudhary, stated that GST rates and exemptions are determined based on the recommendations of the GST Council, a constitutional body with representation from both the Union and State/UT governments.

01 Aug 2025 06:35 PM

GST Rates on Renewables and Electric Vehicles

Source: https://taxguru.in/goods-and-service-tax/gst-renewble-energy-devices.html

In a response to a Rajya Sabha question regarding GST rates on renewable energy devices and electric vehicles, the Ministry of Finance provided clarification. The Minister of State, Shri Pankaj Chaudhary, confirmed that GST rates are determined based on recommendations from the GST Council, a constitutional body with representation from both the Union and State/UT Governments.

29 Jul 2025 06:29 PM

Section 74 GST Notices For Small Value Demands Beyond Section 73 Limitation

Source: https://taxguru.in/goods-and-service-tax/section-74-gst-notices-small-demands-section-73-limitation.html

The Karnataka State Chartered Accountants Association (KSCAA) has submitted a representation to the Union Minister of Finance concerning the issuance of notices under Section 74 of the CGST Act, 2017. The KSCAA highlights that these notices, which are intended for cases involving fraud, wilful misstatement, or suppression of facts, are frequently being issued for minor monetary demands or clerical discrepancies, especially after the limitation period for Section 73 notices has expired.

29 Jul 2025 06:12 PM

Representation on Issues Faced By GST payers With Respect To IMS

Source: https://taxguru.in/goods-and-service-tax/representation-issues-faced-gst-payers-respect-ims.html

The Karnataka State Chartered Accountants Association (KSCAA) has submitted a representation to the Chairman of the Central Board of Indirect Taxes & Customs, Shri Sanjay Kumar Agarwal, detailing various issues faced by taxpayers with the Invoice Management System (IMS) under GST. While acknowledging the government’s efforts in digital compliance, KSCAA highlights several practical implementation challenges impacting simplicity, equity, and efficiency.

29 Jul 2025 05:46 PM

Enable ITC Reclaim Where Tax Is Paid/Reclaimed Outside GSTR-3B Framework: KSCAA

Source: https://taxguru.in/goods-and-service-tax/enable-itc-reclaim-tax-paid-reclaimed-gstr-3b-framework-kscaa.html

The Karnataka State Chartered Accountants Association (KSCAA) has submitted a representation to the Union Minister of Finance regarding challenges with Rule 37A of the GST Rules. The core issue highlighted is the inability of recipients to reclaim Input Tax Credit (ITC) when their suppliers default on tax payments, even if the tax is subsequently paid by the supplier through DRC-03 or recovered by tax authorities, rather than through the GSTR-3B framework. This creates an unjust situation where compliant taxpayers are denied credit despite the government ultimately receiving the tax amount.

28 Jul 2025 06:22 PM

‘No plan for GST on UPI transactions exceeding ₹2,000’, says MoS Finance in Rajya Sabha. What we know…

Source: https://www.livemint.com/economy/no-plan-for-gst-on-upi-transactions-exceeding-rs-2-000-says-mos-finance-in-rajya-sabha-what-we-know-11753603794336.html

GST on UPI transactions? No, the Finance Ministry does not intend to charge GST on UPI transactions over ₹2,000, Minister of State for Finance Pankaj Chaudhary has clarified to the Rajya Sabha. What he said during the Monsoon session of Parliament…

28 Jul 2025 06:26 PM

Freelancing with foreign clients? Know Schedule FA and FIS compliance rules

Source: https://www.livemint.com/money/personal-finance/freelancing-with-foreign-clients-know-schedule-fa-and-fis-compliance-rules-11753679381162.html

Income earned by freelancers from foreign clients—whether through contracts, content creation, or platforms like YouTube and X (formerly Twitter)—is fully taxable in India. But the bigger concern is proper reporting in your Income Tax Return (ITR).

26 Jul 2025 05:38 PM

GST – Journey, Challenges & Road Ahead

Source: https://taxguru.in/goods-and-service-tax/live-webinar-gst-journey-far-present-challenges-road.html

Live Webinar: GST – Journey, Challenges & Road Ahead by 3 Eminent Speakers