Monika Yadav

FM Sitharaman nudges I-T authorities to speed up appeal disposals

Finance Minister Nirmala Sitharaman said the tax department must strengthen litigation management and prevent disputes as over 5.4 lakh first appeals remain pending

Income-tax return e-filing portal largely stable, govt tells Lok Sabha

Contractual penalties imposed on Infosys for delay in IEC project, outages

Industry urges Centre to allow depreciation benefit on imported machinery

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

Taxpayers can view foreign asset details in AIS ahead of I-T return filing

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

CBDT raises Cost Inflation Index to 384 for financial year 2026-27

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 flags off consignments worth $140 million to UK on Day 1 of FTA

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

Centre's net direct tax revenue rises 16.4% to ₹6.51 trn so far this year

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 rolls out process to claim duty concessions under India-UK FTA

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

Wildlife trafficking: 440 protected animals and 15 kg ivory seized

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

FM asks banks to step up NRI outreach as FCNR(B) mobilisation gathers pace

Lenders report encouraging response from Singapore, HK, Gulf, UK, US; ECB inflows seen picking up in Q3 FY27

Centre asks CPSEs to route MSME invoice settlements through TReDS

Revised MSME Ministry guidelines require all operating CPSEs to settle MSME procurement invoices through RBI-regulated TReDS platforms to ensure timely payments

Centre waives Customs duty on charger parts and battery machinery

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

CBDT to reflect foreign financial information in AIS, Form 26AS under AEOI

The tax department will upload foreign financial information received under international information-sharing agreements into taxpayers' AIS and Form 26AS to improve transparency and compliance

Centre plans to zero in on about 500 districts to boost MSME exports

The Centre plans a district-level export push covering 500 districts, with dedicated MSME support, quality labs, certification aid and logistics subsidies

E-way bill generation rises 14.5% in June to fourth-highest monthly level

E-way bill generation under the GST regime rose 14.5 per cent year-on-year to 136.77 million in June, signalling resilient goods movement, domestic trade activity and tax compliance

Five firms in race to build India's new Customs Integrated System for trade

LTTS, Wipro, IBM India, TCS and Infosys are competing to build India's Customs Integrated System, a unified AI-powered platform for faster trade clearances

GST collections rise 11% in June driven by robust import revenues

While net GST collections, after adjusting for refunds, increased to ₹1.62 trillion, gross GST collections rose to ₹1.95 trillion

Nine years of GST: Experts call for litigation and compliance reforms

As GST completes nine years, the Centre highlights stronger revenues and wider tax coverage, while experts seek reforms to reduce litigation, simplify compliance and ease working capital pressures

Govt extends deadline for filing GSTAT appeals by one month till July 31

Extension follows representations over technical issues on the GSTAT portal and a sharp increase in appeal filings as the new appellate mechanism becomes operational

Customs duty exemption on key petrochemical imports extended till July 15

The extension, prompted by supply-chain disruptions arising from the West Asia conflict, will continue to provide relief to industries dependent on critical petrochemical imports