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News

Who profiteered the most from GST tweaks? CCI has clues

Since last May, CCI has issued around 44 orders on complaints of businesses allegedly pocketing the benefits of GST rate reduction or tax credits meant for consumers

3 min read14 Feb 2024
Videos

7 Key highlights of the 50th GST Council meet | Mint Primer | Mint

The 50th GST Council meeting brought significant changes, including tax exemptions on cancer drugs and rare disease medicines. The GST rate was reduced to 5% for snack palettes, fish soluble paste, LD slag, and imitation zari thread. However, online gaming faced a setback with a 28% GST rate imposed. The meeting also addressed concerns about ED interference in GSTN. This video explores the key highlights of the meeting, showcasing the latest updates and their implications on various sectors of the Indian economy.

13 Jul 2023
Economy

Rationalisation in GST rates should be implemented gradually, says CBIC Chairman Vivek Johri ahead of Council meeting

Vivek Johri, Chairman of CBIC, has stated that any changes to GST rates should be implemented gradually to ensure stability of revenues. He expects the current slab structure to eventually converge towards three or four rates.

1 min read10 Jul 2023
Economy

GST fraud worth ₹15,000 crore: Leading food delivery service among entities under scanner: Report

The Central Board of Indirect Taxes and Customs (CBIC) has discovered that nearly 25% of entities registered with the GSTN do not exist or have disappeared.

1 min read7 Jul 2023
News

Industry bodies seek GST structure rationalisation on metal scraps

AIIFA said that the induction furnace sector contributes around 35% to the total steel production in India, requesting the government to rationalise the GST structure

1 min read17 Feb 2023
News

GST not applicable to these BHIM-UPI transactions, check details

All services provided by the Central or State Governments or local authorities to anyone other than business entities are currently free from the Goods and Services Tax (GST).

1 min read15 Jan 2023
News

Covid-19: SC notice to Centre, airlines in plea for full refund of cancelled flight tickets

An apex court bench proposed that airlines provide a credit note with a two-year validity against flight bookings that were cancelled during the lockdown

1 min read12 Jun 2020
News

Govt refunds ₹26,000 crore to 1.6 million taxpayers

The government has expedited the process of clearing tax refunds to improve payers’ liquidity amid an unprecedented lockdown that has brought the economy to a grinding halt

1 min read22 May 2020
Money

How to protect yourself against fake tax refund messages

Many individuals started receiving fake messages, which stated that the I-T department is providing relief to all taxpayers due to covid-19 outbreak. The message contained a link that the individual needs to click to claim tax refund.The tax department doesn't ask taxpayers to verify bank account details. The refund is sent directly to the bank account that the individual discloses at the time of filing the returns.

2 min read6 May 2020
Money

Opinion | You may not get tax refund if you haven’t validated your bank account

To link your bank account, you need to log into your online tax account and pre-validate it

4 min read18 Sep 2019
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Budget

The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared

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