- 18 Mar 2026 06:38 PM
- New
Impact of GST Rationalisation for Hospitality Industry
Source: https://taxguru.in/goods-and-service-tax/impact-gst-rationalisation-hospitality-industry.html
The Government informed the Lok Sabha that the GST Council, based on the recommendations of the Group of Ministers on rate rationalisation, reduced the GST rate on hotel accommodation services priced up to ₹7,500 per day from 12% with Input Tax Credit (ITC) to 5% without ITC during its 56th meeting held on 3 September 2025. The change was introduced to simplify the tax structure in the hospitality sector and reduce transaction costs.
Read More- 18 Mar 2026 06:34 PM
- New
Format of Certificate of ITC Reversal by the Recipient of Goods and Services
The document provides a format for a certificate confirming reversal of Input Tax Credit (ITC) by the recipient of goods or services in relation to credit notes issued under the Central Goods and Services Tax Act, 2017 and corresponding state GST laws.
Read More- 18 Mar 2026 06:47 PM
- New
GST on Adult & Clinical Diapers Reduced to 5% Instead of Exemption
The Government informed the Lok Sabha that Goods and Services Tax (GST) rates and exemptions are determined based on the recommendations of the GST Council, a constitutional body comprising representatives of the Union and State Governments. In response to a query regarding removal of GST on adult and clinical diapers, the Government clarified that the GST Council, in its 56th meeting held on 3 September 2025, recommended reducing the GST rate on such products from 12% to 5%.
Read More- 17 Mar 2026 06:16 PM
GST reform urgency: India must mend a chain of input tax credit that’s holding its economy back
India’s GST is failing to act as a tax on value addition, since its credit system has got bent out of shape. Cascades don’t just burden enterprise, they push exports back, distort value chains and hurt the economy. Restore ITC neutrality to lower business costs and lift export competitiveness.
Read More- 17 Mar 2026 06:12 PM
Small mutual fund distributors warn of income hit, urge Sebi to revisit expense rules
MUMBAI: A new expense ratio rule from India’s market regulator could cut the income of small mutual fund distributors (MFDs) by as much as a fifth, prompting an industry body to warn of an uneven playing field.
Read More- 16 Mar 2026 05:42 PM
Investors run for cover fearing Nifty could test 52-week low
Nifty 50 has already decisively breached the key technical levels of 24604.72, 24058, and 23512 since the war began. That has pushed demand for 22000 Nifty put higher, driving its price up 15 times in two weeks
Investors have ramped up purchases of a hedge to protect their portfolios, fearing that the escalating war in West Asia could sink Nifty 50 to its 52-week low this month, even as analysts expect an odd bounce during the correction.
- 14 Mar 2026 04:56 PM
Tax nudges lead 5 million taxpayers to revise returns; refund claims drop ₹2,000 crore
More than five million income tax returns were revised after the tax department flagged incorrect or bogus deduction claims last year, lowering refund claims by ₹2,000 crore, Central Board of Direct Taxes (CBDT) chairperson Ravi Agrawal told a parliamentary committee.
Read More- 14 Mar 2026 05:01 PM
The week in charts: Crude oil shock, India’s EM rank, e-way bill generations
In this weekly Plain Facts compilation, we present to you data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by.
Read More- 11 Mar 2026 05:40 PM
Factories to the fore: India must reboot its growth model before the AI-pocalypse hits its IT sector
India’s IT services boom drive exports, employment and middle-class growth for three decades plus. But with agentic AI out to automate much of what the sector does, that success story may be nearing its limits. It’s time to turbo-charge manufacturing—which needs a renaissance.
Read More- 11 Mar 2026 05:52 PM
GST Director Arrested for Availing Fake ITC of ₹60.59 Crore Through Bogus Invoices
The Anti-Evasion Branch of the CGST Delhi South Commissionerate arrested a director of a private limited company involved in trading smartphones for fraudulent availment of Input Tax Credit (ITC) amounting to ₹60.59 crore through bogus invoices totaling ₹397.23 crore. The action forms part of the government’s ongoing enforcement drive against fake ITC claims under the CGST Act, 2017.
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