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Middle class a victim of 'tax terrorism': Kejriwal ahead of Budget session

Arvind Kejriwal highlighted the pivotal role of the middle class in driving the Indian economy, lamenting their exploitation for tax purposes without adequate support

Budget 2025: Decoding tax and non-tax revenue and why they matter

As the Union Budget 2025 approaches, it is crucial to understand how the government earns its revenue from taxes and non-tax sources. Here's a breakdown

JSW MG Motor asks government to reduce GST on plug-in hybrid cars

On July 5 last year, the Uttar Pradesh government issued an order removing registration tax on strong hybrid cars, sparking a debate within the automobile industry

GST officers must provide written grounds of arrest under new guideline

The grounds of arrest must be explained to the arrested person and also furnished to him in writing as an Annexure to the Arrest Memo

Delhi High Court exempts electricity commissions' fees from GST

The judgment came in response to show cause notices (SCNs) issued by tax authorities demanding GST on regulatory fees under the Central GST (CGST) Act, 2017, and the Integrated GST (IGST) Act, 2017

Mankind Pharma hit with Rs 2.27 crore GST penalty, plans to challenge order

The pharmaceutical giant criticised the order as 'arbitrary and unjustified,' and confirmed plans to challenge the decision

Strong case for GST reduction on 2-wheelers up to 125 cc: Hero MotoCorp CEO

There is a strong case for GST reduction on two-wheelers up to 125 cc as these cater to non-sin goods but mobility option for masses in the country, Hero MotoCorp CEO Niranjan Gupta said on Wednesday. The government should also continue on the path for long-term growth, stability and investments, he added. He was answering to a query regarding wishlist for the upcoming Union Budget. "Honestly, GST is not the subject of the Union budget. But having said that, I would say there's a strong case for GST to move down from 28 to 18 per cent especially for two-wheelers, up to 125 cc, because they are meant as vehicles for masses," Gupta said. They are not sin or luxury goods but provide mobility to masses in India, he added. "The entry-level two-wheelers help generate lot of direct indirect employment. So whichever way you look at it, there is a strong case for at least two-wheelers, up to 125 cc to move down to 18 per cent GST," Gupta noted. Besides, the government should continue on t

Medtech sector seeks standard GST rate, export incentives in Budget

The scheme aims to refund to exporters the embedded central, state, and local duties and taxes paid on inputs that were so far not refunded or rebated

GST officers must explain 'grounds of arrest', obtain acknowledgment: CBIC

GST officers will now have to explain to offenders about the "grounds of arrest" and obtain a written acknowledgement from them, the CBIC said on Monday. Modifying the guidelines for arrest and bail in relation to offences punishable under the GST Act, the Central Board of Indirect Taxes and Customs (CBIC) said: "The grounds of arrest must be explained to the arrested person and also furnished to him in writing as an Annexure to the Arrest Memo. Acknowledgement of the same should be taken from the arrested person at the time of service of the Arrest Memo." As per the earlier guideline issued in August 2022, GST officers were required to explain to the arrested person the grounds of arrest, and note the same in the arrest memo. The instructions follow the Delhi High Court order in the case of Kshitij Ghildiyal versus DGGI (Delhi). The Delhi High Court has relied on the judgements of the Supreme Court which made a distinction between "reasons for arrest" and "grounds of arrest". The

Centre extends GST return filing deadline for GSTR-3B and GSTR-1

Additionally, the deadline for the October-December 2024 quarter has also been adjusted, with varying due dates for different classes of registered persons

Govt extends monthly GST return, payment deadline due to snag in system

The government on Friday extended the deadline for filing monthly GST sales return form GSTR-1 and GST payment by 2 days after taxpayers reported technical glitches in the GSTN system. As per a notification by the Central Board of Indirect Taxes and Customs (CBIC), the last date for filing GSTR-1 for December is January 13, while that for taxpayers opting for quarterly payment under the QRMP scheme for the October-December period will be January 15. Normally, the last date for filing GSTR-1 for monthly return filers is January 11, while for quarterly taxpayers it is January 13. The deadline for GST payment by filing GSTR-3B for December has been extended to January 22, from the existing date of January 20. For taxpayers who pay GST quarterly, the due date has been extended to January 24 and January 26, depending on the state-wise registration of the business. Earlier in the day, GST Network said in a post on X that it has sent an "incident report" to the Central Board of Indirect

Delta Corp, Nazara Tech jump up to15% as SC stays GST notices indefinitely

SC on online gaming plea news: The Rajya Sabha, in December 2023, was informed that online gaming companies were served 71 show-cause notices related to GST evasion, amounting to Rs 1.12 trillion

Appliances industry seeks 2nd round of PLI, rationalisation of taxes

The appliances and consumer electronics industry on Thursday urged the government to bring the second round of the production-linked incentive (PLI) scheme for products like compressors and motors and rationalise taxes and tariffs on imports. It has also asked for reductions in tariffs on imports, which will help to make the products competitive in the global market, said industry body Consumer Electronics & Appliances Manufacturers Association (CEAMA). "We, over a period of time, need to reduce the taxes. We need to reduce our tariffs so that really, our manufacturers can become competitive. We have a large base, and really we should be manufacturing for the world," said CEAMA President Sunil Vachani. Besides, he also suggested creating large centres of excellence along the coastal areas, "where we can offer plug and play facilities to our MSMEs and offer land at attractive rates to a large corporate". This will help in building export competitiveness, Vachani added while ...

Kerala GST taxpayers get relief from multiple show-cause notices

Taxpayers who have been issued multiple notices for the same GST issue, albeit for different periods or jurisdictions, stand to benefit the most from this move

Budget 2025: IESA asks govt to tax all new tech batteries at 5% GST

India Energy Storage Alliance on Wednesday said batteries, irrespective of technology type, must be uniformly taxed at 5 per cent GST like electric vehicles to support the emerging sector. Ahead of the Union Budget, India Energy Storage Alliance (IESA) President Debi Prasad Dash told PTI that the government may consider protecting domestic cells and battery component manufacturers in the wake of an increase in imports of lithium-ion cells, which has risen to Rs 24,000 crore in FY24 from Rs 18,000 crore in FY23, especially from China. There is a disparity in the tax structure of batteries, he said, adding GST for lithium-ion batteries is 18 per cent, but other chemistries, like lead acid, sodium, and flow batteries and others, are at 28 per cent. On the other hand, for electric vehicles, the GST is 5 per cent. "So, as an industry, we need support to this emerging sector, and all new technologies must be taxed at 5 per cent, and there should not be any difference between different ...

Budget 2025: Gems, jewellery sector urges govt to reduce GST to 1%

The gems and jewellery sector has urged the government for a reduction in goods and services tax (GST) to 1 per cent on revenue equivalence ratio to ease the cost burden on the industry in the upcoming Budget. "We seek rationalisation of taxes and availability of finance to support business," the All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde said in a statement on Tuesday. With the continuously increasing gold rates, the current rate of GST is increasingly becoming a burden for the industry and end customers, he said. Therefore, GJC is urging for a reduction in GST from the current 3 per cent to 1 per cent in the upcoming Budget, which will encourage compliance, Rokde said. The tax reduction will enhance affordability for consumers, especially in rural areas, and most importantly, improve revenue collection by increasing the size of the formal economy, he added. The industry apex body said there is a need to introduce a concessional GST rate for lab-grow

MHI backs SIAM proposal for reducing GST on CNG-powered two wheelers

Ministry of Petroleum and Natural Gas (MoPNG) along with other key ministries also endorse the proposal

Gujarat HC provides relief, says no GST on transfer of state land leases

The court's decision not only alleviates the financial strain on affected businesses but also addresses long-standing concerns regarding double taxation

MSME bodies seek audit exemption for firms below Rs 5 crore turnover

In budget recommendations, FISME emphasised that SMA framework should go beyond merely identifying stressed accounts and halting banking operations to include guidelines for reviving these accounts

EEPC India proposes 'faceless' GST audit system to boost ease of doing biz

The Engineering Export Promotion Council (EEPC), India on Sunday proposed the introduction of a faceless GST audit system to boost ease of doing business in the country. The apex engineering exports promotion body's proposal comes following the successful implementation of faceless assessment' by the Income Tax department. The faceless GST audit system, by using technology and ensuring anonymity, will reduce compliance costs. A faceless system will streamline procedures allowing MSMEs to focus on growth and innovation," said Pankaj Chadha, chairman of EEPC India. The proposal is a part of EEPC India's Budget 2025 recommendation. By introducing a faceless GST audit system, India can further improve its ranking in the Ease of Doing Business index, making it a more attractive destination for foreign investors, it said. It also proposed that Reverse Charge Mechanism (RCM) related liabilities should be eligible for the Amnesty Scheme' to address challenges faced by exporters, who may b