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Income Tax Dept begins nationwide checks after probe finds software helping restaurants hide sales

Income Tax Dept begins probe into restaurants allegedly hiding sales through billing software manipulation

The Income Tax Department has launched a nationwide verification drive to check whether restaurants have under-reported sales after officials detected…

March 9, 2026 12:30 IST

GSTN has enabled a new online facility on the GST portal for taxpayers to opt out of Rule 14A

Simplifying GST registration: Taxpayers can withdraw from Rule 14A of CGST rules – Check key timeline

GSTN has launched an online option on the GST portal for taxpayers to withdraw from Rule 14A registration by filing…

Updated: February 21, 2026 15:29 IST

No ‘multi-layered’ income tax structure in India; wealth, gift and fringe benefit taxes removed: FinMin

The government has denied that India follows a “multi-layered income-tax structure,” clarifying that income tax is levied only under the…

February 16, 2026 16:48 IST

Festive Demand and GST Cuts Drive 6% MoM Uptick in Bank Credit to Consumer Durables

GST and income tax bonanza see a revival in consumer durable credit

Credit recovers after a four consecutive months of decline

December 10, 2025 23:37 IST

Festive spending is expected to slow down this year

Why GST cuts may not boost urban festive spending? Ambit explains slowdown triggers

India’s urban festive spending will stagnate this year despite GST cuts, as weak wage growth and brand substitution limit demand.…

October 8, 2025 15:09 IST

GST 2.0 impact: Life insurers slash distributor commissions on term, ULIPs and annuities - Key takeaways for policyholders

Life insurers cut commissions on term, ULIPs, annuities post GST 2.0, report reveals – What it means for policyholders

Meanwhile, insurance companies have found a way to offset their ITC losses. They are now reducing brokerage and commission for…

October 3, 2025 16:08 IST

GST cuts on air travel, hotels and restaurants

Triple Diwali bonanza for holidayers: Food, hotel, air fare become cheaper post GST cut

The GST Council has cut taxes on restaurants, hotels and air travel from September 22, making food, stays and flights…

Updated: September 4, 2025 11:25 IST

GST 2.0 Unveiled: TVs, ACs and other electronics to get cheaper, bringing festive relief to middle class ahead of Diwali

GST rate cut: TVs, ACs and other electronics to get cheaper, bringing festive relief to middle class ahead of Diwali

Under GST 2.0, TVs, ACs and other consumer electronics are set to become more affordable.

Updated: September 4, 2025 13:07 IST

GST 2.0 reforms to benefit states with ₹14.1 lakh crore revenues in FY26: SBI Research

GST 2.0: States set to gain Rs 14.1 lakh crore even after proposed rate rationalisation, says SBI Research

SBI Research projects states as net gainers under GST 2.0 reforms with estimated ₹14.1 lakh crore revenues in FY26, despite…

Updated: September 3, 2025 19:21 IST

India’s personal income tax collections now bigger than corporate tax mop-up

According to a report by JM Financial Institutional Securities, this is because of formalisation, digitisation and stronger compliance mechanisms.

Updated: August 27, 2025 17:20 IST

gst, gst council, gst council meet, gst meeting, gst reform, pm modi

GST council’s 56th meet to take place on Sept 3-4, tax reforms on agenda

PM Narendra Modi made the first announcement about the reforms calling it a “Diwali gift” for the people of the…

Updated: August 22, 2025 21:54 IST

Zero GST on life, health insurance soon? GoM clears proposal – all eyes on GST council now

After the PM’s speech, the government later came out with details about the upcoming next-generation GST reform which is aimed…

August 21, 2025 15:26 IST

gst, gst council, gst gom, insurance premiums, nirmala sitharaman, samrat choudhary

No GST on health, life insurance premium? Bihar Dy CM shares big update from GoM meet

Prime Minister Narendra Modi had announced on Independence Day that the government is all set to revised the current GST…

Updated: August 20, 2025 18:38 IST

GST refund limitation period will start from the date of correct tax payment, says Patna High Court

Patna High Court has given an important decision saying that if a taxpayer has mistakenly deposited GST under the wrong…

August 20, 2025 16:47 IST

Viksit Bharat, atmanirbhar bharat, PM Narender Modi, goods and services tax

Modi’s I-Day Bonanza: Govt proposes to lower tax on daily-use goods from 12% to 5%

The next-generation GST overhaul will focus on tax cuts, a simplified two-slab system, and measures to boost ease of living.…

Updated: August 15, 2025 18:29 IST

PM Modi’s I-Day 2025 announcements: Rs 15,000 for first-time jobseekers, major GST cuts and income tax relief

On India’s 79th Independence Day, Prime Minister Narendra Modi announced major economic and tax reforms, including the launch of the…

August 15, 2025 10:13 IST

Diwali Bonanza 2025: PM Modi promises big GST reforms - What will get cheaper?

Diwali Bonanza 2025: PM Modi promises big GST cuts – What will get cheaper?

Prime Minister Narendra Modi has announced a major Diwali bonanza in the form of next-generation GST reforms aimed at simplifying…

August 15, 2025 09:03 IST

No proposal to cut GST on farm equipment, says Finance Ministry; decision rests with GST Council

No proposal to cut GST rate, GST Council yet to decide: Finance Ministry clarifies

The Finance Ministry has clarified that there is no proposal to reduce GST rates on farm equipment, stating that any…

Updated: July 22, 2025 18:24 IST

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