Monika Yadav

Gujarat High Court bars retrospective GST on corporate guarantees

Gujarat High Court has barred GST on corporate guarantees issued before October 26, 2023, while retaining the 1% valuation mechanism for guarantees continuing beyond that date

Startup tech deployment should move beyond major cities: FM Sitharaman

The finance minister said government support should go beyond funding, with technologies having relevant public applications deployed quickly in districts and public facilities

CAG flags ₹401 cr GST lapses in works contracts; revenue dept accepts

The CBIC accepted observations in 903 of the 1,334 cases detected by the auditor, involving Rs 268.36 crore, and has recovered Rs 15.88 crore so far.

Centre's net direct tax collection surges 23% to ₹8.11 trillion till Aug 10

Direct tax revenue collection so far this year has grown faster than the 15.25 per cent growth needed to achieve the full year target this year, compared to last fiscal's actual collection

MDR in future only on some merchant UPI transactions: FM Sitharaman

"No MDR framework has yet been finalised," Sitharaman said. She added that consumers would continue to make instant digital payments through UPI without paying a transaction charge

E-way bill generation rises 5.98% to second-highest level in July 2026

E-way bill generation rose to 139.79 million in July from 131.91 million a year earlier, indicating sustained movement of goods and resilience in domestic trade

Govt collects ₹10,040 crore duty on gold imports in 2.5 months after hike

The effective customs duty on gold, silver and precious metals was raised from May 13, with gold imports yielding Rs 100.4 billion in duty through August 2

MSMED amendment Bill seeks to fix late payments, ease biz for small firms

The MSMED Amendment Bill seeks faster payments, online dispute resolution and easier recovery of dues, but industry bodies flag concerns over TReDS access and implementation

GeM crosses ₹20 trn procurement milestone; MSEs account for 45.6% of GMV

The government procurement platform has facilitated more than 3.78 crore orders in a decade, with MSEs fulfilling orders worth over Rs 9.07 lakh crore.

FISME urges CBIC to introduce safe harbour for bona fide buyers

Industry body FISME has urged the CBIC to protect bona fide GST buyers from suppliers' defaults, expedite refunds and simplify compliance to improve ease of doing business

Four in five MSMEs see digital procurement driving growth: Report

The India SME Forum estimates the MSME procurement economy at ₹124.9 trillion, but says only 30-40 per cent of spending currently takes place through digital channels

Reit, Invit investors to regain dividend tax break; SPV surcharge will rise

The government proposes restoring tax-free REIT and InvIT dividends while raising the surcharge on SPVs to keep the changes revenue-neutral

Sitharaman tables Tax amendment Bill to ease rules for funds, data centres

Finance ministry says Bill aims to provide stable and predictable tax treatment, simplify compliance, and make India more attractive for global investment and manufacturing

Tax Bill to widen steps to attract foreign investment, ease rules

The government plans to widen tax incentives for offshore funds, electronics, data centres and diamond trading to attract long-term foreign investment and boost ease of doing business

Gross GST collections rise 15% in July, led by strong import revenues

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

Over 55 million income tax returns filed by Friday noon: I-T department

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

Industry concerns prompt GSTN to defer proposed e-way bill enhancements

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

GST ITC fraud detections jump to ₹74,782 cr in FY26; cases more than double

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

Industry seeks 3-month extension for GST e-way bill changes from August 1

Trade bodies urge the finance ministry to defer GSTN's e-way bill changes, citing technology upgrades, testing needs and concerns over commercial confidentiality

Number of individuals reporting ₹100 crore-plus income rises to 576

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