PM Modi Promises "Double Diwali" And "Next-Generation" Tax Gift This Year

Prime Minister Narendra Modi has promised a Diwali gift for the citizens of the country in his speech on the occasion of the 79th Independence Day.

The Enforcement Directorate (ED) conducted extensive search operations on Thursday at 12 locations spread across Jharkhand, West Bengal, and Maharashtra in connection with a case linked to fraudulent GST invoices.

India's Goods and Services Tax (GST) collections rose to Rs 1.96 lakh crore in July, up 7.5 per cent from the same month previous year, according to government data released on Friday.

The Commercial Taxes Department of Telangana has uncovered a significant Goods and Services Tax (GST) fraud amounting to over Rs 100 crore allegedly orchestrated by Hyderabad-based M/s Keshaan Industries LLP.

Freelancers in India must understand tax rules like TDS, GST, and ITR filing to avoid penalties and legal trouble. Awareness of these rules ensures financial safety and builds credibility in the professional world.

Small vendors and traders across Karnataka have raised serious concerns after receiving GST notices from the commercial tax department for UPI-based transactions exceeding Rs 40 lakh annually.

Hyundai Motor India Ltd has said in a SEBI regulatory filing that it has received a demand from tax authorities, along with a penalty from the GST authority.

In a major crackdown on tax fraud, the Directorate General of GST Intelligence (DGGI), Bengaluru Zonal Unit, has unearthed a massive fake invoicing racket involving six shell companies.

India does not take any decision under pressure from any country, Confederation of Indian Industry (CII) National President Rajiv Memani has said, asserting that New Delhi's interest will always be a priority as it nears a trade deal with Washington.

Cigarettes, carbonated drinks, and high-end cars are among items that may become more expensive if a proposal to replace the expiring compensation cess - in the Goods and Services Tax system - with cesses on health and clean energy.

After a series of income tax concessions earlier this year, the Centre is now preparing to extend relief to middle and lower-income households in the form of a reduction in Goods and Services Tax (GST), sources have said.

In what could be one of the biggest GST frauds uncovered in central India, the Economic Offences Wing (EOW) has unearthed a fake invoicing scam worth Rs 512 crore and fraudulent Input Tax Credit (ITC) claims of Rs 130 crore.

Gross GST collections doubled in five years to reach an all-time high of Rs 22.08 lakh crore in the 2024-25 fiscal year, from Rs 11.37 lakh crore in FY21, government data showed on Monday.

New India Assurance Company Ltd on Thursday said tax authorities have issued a show cause notice with a demand of Rs 2,298 crore Goods and Services Tax (GST) for five financial years.