India's net revenues from the Goods and Services Tax (GST) rose at a three-month high pace of 10.7 per cent in August even as growth in gross collections slowed to 6.5 per cent from 7.5 per cent in the previous month, thanks to a nearly 20 per cent decline in refunds to taxpayers during the month.
'States should be compensated for the revenue loss for at least five years or beyond till the revenue stabilises.'
Strong demand for cultural and spiritual hubs is expected for destinations like Varanasi, Kolkata during Durga Puja, and Pushkar for the camel fair, besides leisure destinations like Goa, Udaipur, Jaipur and Coorg.
'While the concept was introduced globally over four decades ago, branded residences have taken off now in India.'
'We want to clear these pending refunds so that no issues arise once the new I-T Act takes effect.'
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
'There is no retrospective changing of the law, only its simplification.'
'The India-UK FTA is an enormous win for both the Indian consumer and the Scotch whisky industry. It will make whisky more affordable while expanding the Scotch market by about a billion dollars.'
'The upcoming long weekend has ignited strong travel intent, with robust bookings across leisure, spiritual and wellness destinations.'
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
'As a result of delays, the desired reliefs are not coming for taxpayers.'
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
'The government, if it deems fit, will incorporate the changes in the Bill, take approval from the Cabinet before moving the bill for consideration and passage in the Lok Sabha.'
Taxpayers have been advised to file accurate particulars of their income and contact details, and not to fall prey to agents or intermediaries promising undue refunds.
India's net direct tax collections contracted 1.3 per cent to about 5.63 trillion as of July 10, with corporate taxes dropping 3.7 per cent and non-corporate taxes recording a fractional 0.04 per cent contraction, Income Tax department data released on Friday revealed.
Taxpayers required to file ITR-2 or ITR-3 can now download the Excel utilities from the I-T department's e-filing portal, fill in their details offline.
Destinations like Coorg, Munnar, the Western Ghats, and parts of the North East, are at their scenic best in the monsoon.
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
'...than by the calendar.' Indian travellers are no longer restricting their getaways to summer or winter holidays.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances