Indirect Tax

India to become world's most efficient, trusted trade hub: Revenue secy

He further said technology and trust are two pillars of the revenue department

SC rules in favour of DRI authority; clears recovery of Rs 20,000 cr tax

This ruling confirms that DRI officers qualify as "proper officers" under Section 28 of the Customs Act, enabling them to issue show-cause notices

Good enough vs ideal: Incremental GST reforms may outshine rapid changes

Our guiding principle in taxation should be driven by the principle of what works, not what is theoretically the best idea. The good enough should not be made the enemy of the ideal

Consensus eludes GoM on GST rate rationalisation, over 100 items discussed

The outcome of the rate rationalisation discussions will be crucial in shaping the agenda for the upcoming 55th GST Council meeting, expected in November

Infosys GST demand notices: Relief in sight, 2 options on the table

Finance ministry may declare notices null and void or reduce tax liability

GoM meeting in Goa: No consensus on GST proposals for real estate sector

Meeting favours States that declare tourism as infra to facilitate exemptions

Dispute over food GST: Gujarat High Court rules in company's favour

The Gujarat High Court has quashed a show cause notice sent by the GST authorities to a company asking it to pay 18 per cent tax on unfried or uncooked extruded snack pellets

Robust GST audit system with safeguards can boost state revenue collection

An audit system has great advantages over routine tax return verification but requires greater skills

Record Rs 81,875 crore GST evasion detected in online gaming in FY24

In terms of sectors, online money gaming was followed by the BFSI sector, which saw Rs 18,961 crore evaded in 171 cases

Underutilised data: GST transactions are a rich mine for policymakers

The GSTN's concerns about privacy and security are important and must be respected, but they are not insurmountable

E-governance journey in CBIC: Moving towards development outcomes

As the IT system became more scalable, it not only led to better compliance but also made CBIC future-ready and resilient

GST intelligence detects tax evasion of Rs 1.2 trillion so far since 2020

This comes in the backdrop of a fresh special drive being undertaken by both Central and State authorities to identify and weed out fake registrations

Statsguru: Customs duty revisions in Budget aimed to boost manufacturing

The share of Customs duty in India's gross tax receipts has more than halved in the past decade

Expanding GST: Focus on land and real estate

It will give an impetus to factor market reforms, which are essential to drive India's growth

On the table: Fitment panel working on 2 sets of 3-slab GST structure

The panel is working on two options to keep prices of essential goods in check

GST amnesty scheme: A step forward or a missed opportunity?

While the GST amnesty scheme is a positive step towards improving taxpayer relations, its current form falls short of its potential

'Don't want to raise tariffs to high levels as industry becomes complacent'

Since indirect tax figures are not being released, we are treating GST data in the same manner, he says

Union Budget 2024-25: Lightening the indirect burden on taxpayers

The Budget has taken up several welcome measures for their benefit and overall trade facilitation

Union Budget 2024: Beginning of remarkable direct tax reforms by Modi 3.0

Income tax changes in Budget 2024: On the personal income-tax front, the tax slab rates have been rationalised only under the new tax regime

GST: Reimagining input tax credit norms

One of the key aspects under GST is that tax should only be on the 'value addition'. Also, the legacy issue of 'tax on tax' will be eliminated