GST
How India’s GST 2.0 compares with similar tax systems in other countries
Since its introduction on July 1, 2017, the Goods and Services Tax (GST) regime has undergone a massive change.
AP assembly passes resolution supporting GST reforms
The ‘next-gen’ GST 2.0 reforms will make India the only country in the world to achieve a double-digit growth rate, said Andhra Pradesh chief minister N. Chandrababu Naidu.
‘No plan to revive anti-profiteering rules under GST’
The govt is not reviving anti-profiteering provisions under Section 171 of the GST law, even as it implements one of the largest arounds of tax rate cuts since GST’s rollout in 2017.
Court acquits two in GST evasion case
The Economic Offences Court in Jaipur has acquitted two men who had been arrested in a multicrore GST evasion case,
Customs
US revokes sanctions exemption on Iran’s Chabahar Port: What it means for India’s strategic gateway
India’s access to Afghanistan and Central Asia through Iran’s Chabahar Port faces a serious challenge as the United States revoked sanctions exemptions previously granted under the Iran Freedom and Counter-Proliferation Act (IFCA), effective September 29.
Sanctioned Tankers Begin to React to Adani’s Ban from Indian Ports
Days after India’s large private port operator, Adani Group, was reported to have issued a ban on handling sanctioned tankers, it appears to have impacted one vessel. Others, however, are still proceeding to India and Adani’s Mundra port in northwest India.
Trump softens… Is a deal with the US on the cards? The 25% extra tariff on India could be lifted!
The 50% tariff imposed by the US on India could be significantly eased, and the additional 25% tariff imposed by Trump on Russian oil purchases could be lifted. Chief Economic Advisor V. Anantha Nageswaran expressed this hope on Thursday.
India will not allow rerouting of domestic goods from UAE to US: Piyush Goyal
Commerce and Industry Minister Piyush Goyal on Thursday said India will not encourage or allow rerouting of domestic goods from the UAE to the US.
Income tax
Net direct tax mop-up rises 9% to Rs.10.92 lakh cr, corporate advance tax grows; refunds fall
Net direct tax collection climbed 9.18 per cent to over Rs. 10.82 lakh crore till September 2017 in the current fiscal, driven by the higher advance tax payments from corporates and slower issuance of refunds, the government said.
The Nagpur Chamber of Commerce has sent a representation to the Central Board of Direct Taxes (CBDT), asking for a two-month extension on the income tax audit deadline, pushing it to November 30, 2025.
Kerala Bar Council Acts Against Lawyer for Alleged Online Advertising
The Bar Council of Kerala (BCK) has issued a show cause notice to advocate Happymon Babu after a social media video allegedly promoting his legal services went viral.
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