Gross GST collections climbed to ₹2.11 trillion in July as import-related revenue surged nearly 29 per cent, while domestic collections maintained healthy growth
The department has been urging taxpayers, particularly those eligible to file simpler forms such as ITR-1 (Sahaj) and ITR-2, to complete the process early
The proposed August 1 rollout has been put on hold after businesses sought more time to modify ERP systems, update databases and test compliance processes
Central tax authorities detected ITC fraud worth Rs 74,781.56 crore across 30,162 cases in FY26 as analytics, biometric checks and enforcement measures strengthened detection
Trade bodies urge the finance ministry to defer GSTN's e-way bill changes, citing technology upgrades, testing needs and concerns over commercial confidentiality
The government told the Lok Sabha that the number of taxpayers reporting gross total income of ₹100 crore or more has quadrupled since assessment year 2021-22
The apex court dismissed the Centre's petitions against the Gujarat High Court ruling, holding that transfers of long-term GIDC industrial leasehold rights are not subject to GST
The 198-page guidance note explains reporting obligations for crypto service providers under the Income-tax Act, 2025, in line with the OECD's Crypto-Asset Reporting Framework
Finance Minister Nirmala Sitharaman said the tax department must strengthen litigation management and prevent disputes as over 5.4 lakh first appeals remain pending
Industry bodies have sought depreciation benefits on imported machinery under the MOOWR scheme and eligibility for RoDTEP, saying the current framework raises costs for manufacturers
CBDT has enabled foreign asset and overseas income information in the Annual Information Statement to help taxpayers accurately disclose such details in income tax returns
The Cost Inflation Index for FY27 will apply from April 1, 2026, though indexation is now available only in limited cases involving certain land and building sales
India has operationalised its trade pact with the UK, enabling preferential tariffs from day one and flagging off $140 million worth of exports under the new regime
Net direct tax collections rose 16.4% to ₹6.51 trillion by July 13, led by strong corporate tax growth and a sharp jump in securities transaction tax receipts
CBIC has outlined the operational framework for self-certification of origin under the India-UK trade pact, enabling importers to claim preferential tariff benefits from July 15
Intelligence-led operations across several states resulted in the seizure of over 440 protected animals, around 15 kg of ivory and elephant ivory articles, and the arrest of 33 people
Duty exemptions on display assembly and wireless charging components, along with expanded relief for lithium-ion cell machinery, aim to boost domestic manufacturing and value addition
