Any reduction on purifiers would need consensus among state finance ministers.
Total pending Customs arrears, including amounts under litigation, court stays and cases where the appeal period has not expired, stood at about Rs 1.36 trillion at the end of December 2024.
The GST Council at its next meeting may consider a reduction in taxes on air and water purifiers as air quality across the country worsens and access to safe drinking water remains uneven.
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
After issuing notices to hotels across the country for allegedly underpaying goods and services tax (GST) on restaurant services, the revenue department has now widened its scrutiny by seeking information from online travel platforms.
The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs.
'The directives to enhance last-mile funding, consider revival funds, and systemic reforms across the sector are expected to revive stalled projects, improve accountability, and accelerate the delivery of affordable and mid-income housing.'
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
Choreographer-turned-director Remo D'Souza can sure set the stage on fire but isn't quite the storyteller, notes Sukanya Verma.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
Certain clarifications by the GST Council, such as tax rates on ice cream parlours and royalty paid to state governments over mineral rights, may turn out to be contentious and lead to litigation, feel some experts. The council, at its meeting in Lucknow on Friday, had clarified that ice cream parlours will attract goods and services tax (GST). The clarification said these parlours sell already manufactured ice cream and such supply would draw 18 per cent tax.
'There are obvious concerns regarding revenue leakage which is understandable, but there are also concerns about whether or not well accepted, judicially tested, fair and proper procedures are being followed during such arrests.'
The new restriction will be challenging for businesses, as they will have to do regular follow-ups with their suppliers.
Petroleum Minister Dharmendra Pradhan's wish to levy indirect tax on petrol unlikely to be taken up
Some may lose competitiveness due to higher compliance costs
The arbitration of any court is legally binding and the government) can approach the Singapore high court.
Tax experts are nudging the authorities to figure out why so many assessees are not filing their returns.
Experts said the builders will now factor in their losses arising from the removal of input tax credit when they pass on the benefits to end users while the latter may want the entire GST cut to be given to them.
In a far-reaching verdict, the Supreme Court on Thursday ruled that the appointment of the Chief Election Commissioner and the election commissioners will be done by the President on the recommendation of a committee, comprising the Prime Minister, Leader of the Opposition in the Lok Sabha and the CJI, to maintain the "purity" of the electoral process.
A bench of justices Ajay Rastogi and Bela M Trivedi said it will hear the petitions of the BRS leader and others after three weeks.
As cess levied under GST isn't shared by states, most states oppose it on the ground that it would set a wrong precedent and distort the GST structure.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
The mandatory use of the Indian flag on SCI's ships has been a bone of contention with prospective buyers, on account of the costs it will entail in terms of taxation and vessel registration.
E-invoicing would be implemented on a voluntary basis by those having an annual turnover of above Rs 500 crore from January 1.
One of the changes being proposed is allowing LLPs to issue non-convertible debentures.
Group of ministers to review progress every fortnight.
Reaching a consensus might also get tougher, as already seen with issues like inclusion of natural gas in GST and imposition of a sugar cess, both central proposals being resisted.
Since its rollout 13 months ago, the new indirect tax has yielded Rs 1 trillion only in in April 2018
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
Jewellers initially feared the ban applied on them, too. However, after discontinuing their monthly schemes for almost two weeks, they've started accepting deposits again.
The hits and misses of the week.
The hits and misses of the week.
While the Centre is criticised for not cutting excise duty on petroleum products, it is the states which gain more from the rise in their prices
India's shooting ace Apurvi Chandela attained the World No 1 position in the women's 10m air rifle event while compatriot Anjum Moudgil rose to second.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
Commonwealth Games champion Parupalli Kashyap knocked out top seed Lee Hyun Il of Korea in the men's singles opening round of the US Open Grand Prix Gold badminton tournament in Anaheim, United States.
Goods like chocolates, chewing gum, shampoo, deodorant, shoe polish, detergents, nutrition drinks and marble will now attract 18% GST>
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances