Page 14 - Monika Yadav

Govt clears MRP fixes for unsold FMCG inventory after GST rate change

Allows price revisions until December 31

E-way bill tally hit 129 million in August, second only to July record

Experts credit the sustained momentum to the imposition of 50 per cent US tariffs, which came into effect on August 27, and to domestic demand powered by the festival season

PwC India launches GenAI Navigate Tax Hub to modernise tax functions

PwC India's Navigate Tax Hub, powered by generative AI, integrates tax expertise and secure document management to boost efficiency, accuracy and value for tax teams

Officials explore input tax credit fixes for smooth GST transition

Suggest allowing unused ITC for SGST payments, Customs duty offsets, or tradable scrips

Cabinet Secretariat, ministries to meet Monday on smooth GST rollout

According to another official, Finance Ministry is eager to re-examine certain sectoral issues if directed by the Prime Minister's Office

3-day registration for GST, 90% provisional refunds from November 1

CBIC Chairman Sanjay Kumar Agarwal said the scheme will cover both central and state jurisdictions, and apply in cases where applicants are assessed to be low-risk

Experts welcome GST Council move to ease post-sale discount disputes

GST Council amends rules on post-sale discounts to allow credit notes without invoice linkage, a change experts say will reduce litigation and benefit businesses

Sin goods to face extra levy over 40% GST: CBIC chief Sanjay Kumar Agarwal

CBIC chief says repayment of compensation cess loan likely to be completed by Dec-end

Will talk to industry bodies if lower rates not passed on: CBIC Chairman

Sanjay Agarwal says CBIC will flag cases with industry bodies if firms fail to pass on GST relief

Festival cheer: Two-rate GST structure approved; new rates from Sep 22

New tax slabs of 5% & 18%; 40% levy on sin & super luxury goods; Personal health, life insurance policies exempted

GST Council meeting on Sep 3-4: Exemption on cards for cancer drugs

Garments and apparel as well as footwear priced above ₹2,500 are likely to attract 18 per cent GST, while those below this threshold are expected to be taxed at 5 per cent, sources said

CMAI warns GST hike on apparel above ₹2,500 to be 'death knell' for sector

CMAI has opposed reports of a GST hike on garments above ₹2,500 to 18%, warning it will hurt middle-class consumers, traditional crafts and an industry hit by tariff wars

India to implement OECD's crypto reporting framework from April 2027

India is expected to sign the Multilateral Competent Authority Agreement (MCAA), a global framework for automatic exchange of tax information next year, he said

India's net GST kitty increases 10.7% to ₹1.67 trillion in August

Gross GST collections in August, for transactions undertaken in July, stood at about Rs. 1.86 trillion, 4.8 per cent lower than the previous month

GST rate reforms: Oppn-ruled states call for additional levy for 5 yrs

At a consultative meeting in the capital, ahead of the GST Council's meeting on September 3-4, these states supported the Centre's proposal for rationalisation

Textiles seek more incentives as govt extends duty-free cotton imports

Tamil Nadu urges higher export incentives and faster EU trade deal as duty-free cotton imports extended till Dec 31, while farmers complain of falling domestic cotton prices due to cheap US supplies

Artisans, weavers bodies urge Centre to scrap GST on textiles, handicrafts

Artisans and weavers seek zero GST on handlooms and handicrafts citing sectoral distress, while the fertiliser industry urges GST rate cut on inputs and refund of blocked tax credits

The great tax rewrite: New law promises simplicity, stronger oversight

A sharper new income-tax law simplifies the landscape for individuals and corporations, expands the reach of enforcement authorities

Draft rules for new I-T Act expected by year-end, says CBDT member

When the new law was introduced in Parliament on February 13, the government also set up a committee to draft the accompanying rules and forms

GST Council may allow input tax credit for employee group insurance

"ITC on group health and life insurance policies may be taken up for discussion. But there is no proposal to exempt these policies from GST. They will continue to attract 18 per cent," official said