Karnataka Chief Minister Siddaramaiah claims GST rationalisation by the Centre led to significant revenue loss, preventing a surplus budget. The state's fiscal deficit is 2.95%, just under the FRBM Act limit of 3%.
Gujarat's tax revenues surged in March 2026, with state GST collections rising 18.7% year-on-year to Rs 7,352 crore. Full-year SGST revenue hit Rs 81,410 crore, up 11.1%, as overall tax streams showed robust growth.
The Indian government has exceeded its indirect tax collection estimates for FY26, with customs and excise duties surpassing their revised estimates significantly.
The Income Tax Department has clarified that income from transfers of investments made before April 1, 2017, is excluded from GAAR, addressing industry concerns over retrospective application and providing regulatory certainty.
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India's GST collections rose 8.8% in March to exceed Rs 2 lakh crore for the first time since rate cuts in September. Domestic collections grew 6% while import-based collections surged 18%.
Goa's GST revenue for 2025-26 declined by 2.1% to Rs 6,950 crore, contrasting with national growth of 6.4%. State collections grew marginally by 1% to Rs 4,575 crore, while central formations saw a sharper 6.1% drop.
The Income Tax Act 2025 has come into force, replacing the 1961 law with simplified language, a single tax year system, and easier TDS refunds, aiming for a more accessible tax framework.
India's GST revenue rose 9% to exceed Rs 2 lakh crore in March 2026, the third highest collection of the fiscal year. Domestic revenues increased 5.9% to over Rs 1.46 lakh crore, while import-linked collections grew 17.8% to Rs 53,861 crore.
India's Goods and Services Tax (GST) collections witnessed a robust 8.8% year-on-year growth in March 2024, crossing the significant Rs 2 lakh crore mark, reflecting strong economic activity and improved compliance.
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Akhil Pandey, a BHU alumnus from Azamgarh, secured the 1st rank in the assistant commissioner GST list and 55th overall in the UP Public Service Commission exam.
Kolkata GST zone arrests a businessman for orchestrating a massive Rs 9 crore input credit tax fraud using 150 sham companies. The kingpin remains at large as investigations deepen.
The Indian government has introduced new GST settlement rules aimed at simplifying tax distribution processes, enhancing compliance, and reducing disputes among states and the Centre.
The Indian government has officially notified the Finance Act 2026, implementing tax reforms and fiscal policies from the Union Budget 2026-27, including a new surcharge on capital gains from share buybacks.
The government has notified ITR forms for assessment year 2026-27, with ITR-1 now permitting income reporting from up to two house properties, easing compliance for taxpayers. Filing deadline is July 31, 2026.
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The new financial year brings significant updates to India's income tax rules, including revised tax slabs, standard deduction adjustments, and enhanced benefits for senior citizens. These changes impact salaried employees, investors, and taxpayers across
India's new Income-tax Act, 2025, replaces the 1961 Act from April 1, 2026, aiming for a logical, accessible format. Simultaneously, a higher securities transaction tax on F&O trade kicks in.
The Goa Chamber of Commerce and Industry has formally requested the state GST commissioner to review a recent order holding property owners liable for GST compliance during events, citing legal concerns and compliance burdens.
India's Income Tax Act 2025 takes effect from April 1, keeping tax slabs unchanged but introducing stricter reporting, digital compliance, and tighter verification for HRA and other claims.
Top lawyers explain whether losses incurred on delisted company shares can be claimed in Income Tax Returns, detailing legal provisions and practical implications for investors.
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The Central Board of Indirect Taxes and Customs held a hybrid program in New Delhi to explain the Duty Deferment Scheme for Eligible Manufacturer Importers, a key Budget 2026-27 measure aimed at boosting trade facilitation and domestic manufacturing.
A historical review of how taxation burdens have been distributed across society, examining key policies and their impacts on economic equity and public finance.
Karnataka's Commercial Taxes Department announces offices will remain open on March 30, a Saturday, to facilitate last-minute GST return filings and tax payments before the March 31 deadline.
Indian professionals earning abroad face double taxation risks. This article explains Foreign Tax Credit (FTC) under DTAA, compliance via Form 67, and updates under the new Income-tax Act, 2025.
The Income Tax Appellate Tribunal in Mumbai has ruled that surrender of tenancy rights qualifies as capital asset transfer, granting Section 54F exemption for a Rs 11.7 crore flat received in redevelopment.
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Odisha native Bijoy Kumar Panda, IRS, visited Bhubaneswar to review income tax investigation operations in the region, holding meetings with senior officers.
The GST Intelligence Directorate has uncovered a massive organized syndicate involving 72 shell entities and fraudulent input tax credit claims worth Rs 217 crore across Andhra Pradesh and Telangana.
The CAG audit report reveals GST deviations worth Rs 2,606.6 crore in Ahmedabad, highlighting inconsistencies in returns, ITC, and tax payments, with 39.70% of cases unresolved.
Ahmedabad joins metro cities for HRA exemption, allowing salaried employees up to 50% tax break under old regime, benefiting sectors like tech and finance.
A CAG compliance audit in Maharashtra reveals systemic issues in the E-Way Bill System, leading to tax evasion and unrecovered GST of Rs 154.6 crore due to deficiencies like invalid vehicles and nil returns.
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Central GST officers in Kolkata have launched an investigation into a Rs 8 crore fraud case involving fake GST entities that fraudulently availed input tax credit. A company director has been arrested and sent to judicial custody.
