07 Aug 2025 05:52 PM
New

GST Exemption for Khadi and Village Industries Products

Source: https://taxguru.in/goods-and-service-tax/gst-exemption-khadi-village-industries-products.html

In a Lok Sabha unstarred question, Adv. K. Francis George inquired whether the government was aware that Khadi & Village Industries Commission (KVIC) products are handmade, leading to high production costs. He also asked if these products are taxed up to 12% GST and if the government would consider exempting them from GST to support employment.

06 Aug 2025 05:52 PM
New

E-way bill hits record high in July on robust demand, festive stocking and a tariff rush

Source: https://www.livemint.com/economy/eway-bill-record-july-2025-demand-festive-exports-tariffs-11754455241337.html

India generated a record 131.9 million e-way bills in July, driven by rising rural demand, festive prep, and exporters racing to beat US tariffs, underscoring resilient supply chains and domestic consumption.

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

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

05 Aug 2025 05:39 PM

Delhi GST Busts Rs. 47.12 Cr. Iron & Steel ITC Fraud

Source: https://taxguru.in/goods-and-service-tax/delhi-gst-busts-rs-47-12-criron-steel-itc-fraud.html

The CGST Delhi South Commissionerates Anti-Evasion Branch has exposed a significant Input Tax Credit (ITC) fraud scheme. The investigation targeted a Naraina-based iron and steel trader who fraudulently claimed and passed on ITC worth Rs. 47.12 crore, based on bogus invoices for approximately Rs. 261 crore in taxable value, with no actual movement of goods.

04 Aug 2025 06:19 PM

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.