16 Jul 2025 06:38 PM
New

Ajit Ranade: A progressive GST is easier to promise than achieve

Source: https://www.livemint.com/opinion/online-views/india-council-gst-reform-collections-tribunal-nipfp-hces-2022-sacchidananda-mukherjee-atkinson-stiglitz-income-tax-slabs-11752502799485.html

This month, India’s goods and services tax (GST) completed eight years. This is a milestone reform. It is a consumption tax that unifies the national economic market, getting rid of inter-state frictions and tax cascades, and is fully electronic with in-built incentives for compliance and prevention of leakage. In the five years since 2020-21, annual gross GST collections have more than doubled to ₹22 trillion.

16 Jul 2025 06:42 PM
New

Consumer dissonance: Focus policy on market rivalry instead of pricing strategy

Source: https://www.livemint.com/opinion/online-views/india-mrp-system-price-control-consumer-protection-gst-regime-free-market-economy-pricing-strategy-market-competition-11752593885814.html

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.

14 Jul 2025 01:58 PM
New

Guide to Online Filing of GST Appeals and Applications

Source: https://taxguru.in/goods-and-service-tax/guide-online-filing-gst-appeals-applications.html

Goods and Services Tax Appellate Tribunal (GSTAT), established by the Government of India under Section 109 of the Central Goods and Services Tax Act, 2017, serves as the highest judicial forum for GST-related disputes at the factual level. To streamline the appeal process and enhance efficiency, GSTAT has launched a dedicated e-Filing Portal, revolutionizing how taxpayers, tax officials, and authorized representatives interact with the tribunal.

14 Jul 2025 02:00 PM

Karnataka GST Dept issues GST notices to traders based on UPI transaction data

Source: https://taxguru.in/goods-and-service-tax/karnataka-gst-notices-issued-traders-upi-data.html

The Karnataka Commercial Tax Department has clarified recent media reports concerning notices issued to small traders regarding Goods and Services Tax (GST) compliance. The department initiated this action by collecting Unified Payments Interface (UPI) transaction data from various service providers for the financial years 2021-22 to 2024-25. These notices target traders whose UPI receipts alone exceeded Rs 40 lakh, indicating a potentially higher overall annual turnover when factoring in cash and other transaction modes.

10 Jul 2025 06:20 PM

Need to go a bit beyond standard parameters: Finance Commission member

Source: https://www.livemint.com/economy/16th-finance-commission-member-dr-manoj-panda-gsdp-growth-economy-rich-states-gst-council-subsidy-11752063014902.html

New Delhi: The Sixteenth Finance Commission that has just completed its round of state visits may have to go "a bit beyond" the standard parameters while computing the share of the country's revenue kitty between states and the Centre, said Manoj Panda, a member of the commission said.

09 Jul 2025 05:40 PM

What are credit card late fees, over-limit charges, and GST — and how can you avoid them?

Source: https://www.livemint.com/money/personal-finance/what-are-credit-card-late-fees-over-limit-charges-and-gst-and-how-can-you-avoid-them-11752039659716.html

Understanding credit card late fees, over-limit charges, and GST can help manage finances. Responsible credit card use prevents it from becoming a liability. Mint aims to educate on credit, advising consultation with experts before taking credit due to associated risks.

07 Jul 2025 06:49 PM

The week in charts: GST collections, capex decline, employment scheme

Source: https://www.livemint.com/news/the-week-in-charts-gst-collections-capex-decline-employment-scheme-11751526054274.html

GST collection growth slumped in June due to reduced mop-up from domestic and imported items, while investment appetite clocked its worse April-June performance in several years. Meanwhile, the central government has approved a scheme to support employment generation in the country.

04 Jul 2025 05:41 PM

Indian economy to grow 6.4-6.7% in FY26 amid geopolitical risks, says CII president; 3-tier GST structure backed

Source: https://www.livemint.com/economy/indian-economy-to-grow-6-4-6-7-in-fy26-amid-geopolitical-risks-says-cii-president-calls-for-3-tier-gst-structure-11751548244483.html

India's economy is projected to grow 6.4-6.7 per cent this financial year, driven by strong domestic demand and liquidity boost, according to CII President Rajiv Memani. He called for a simplified GST structure, advocating for rate rationalisation.

02 Jul 2025 06:36 PM

Centre, states collect ₹1.85 trillion in GST revenue in June—a 4-month low

Source: https://www.livemint.com/economy/gst-collection-june-rs-1-85-trillion-domestic-tax-revenue-11751378844298.html

Annual GST revenues have nearly tripled from ₹7 trillion in FY18 to ₹22 trillion in FY25, the finance ministry said on the eighth anniversary of the GST rollout.

02 Jul 2025 06:39 PM

Small-cap Tyre sector stock rises 11%, despite GST notice. Here's what is fueling gains

Source: https://www.livemint.com/market/stock-market-news/smallcap-tyre-sector-stock-rises-11-despite-gst-notice-heres-what-is-fueling-gains-11751445296040.html

Stock Market Today: Small-cap Tyre sector stock gained more than 11% during the intraday trades on Wednesday, despite the GST notice. Here's what is fueling gains for TVS Srichakra Ltd.'s share price