Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
DBS Bank India has launched a direct tax payment facility after authorisation from the Central Board of Direct Taxes (CBDT). Utkarsh Small Finance Bank partners with Mumbai Indians as banking partner for T20 League 2026.
ICICI Bank has received a demand notice of 768.6 crore from tax authorities for alleged short payment of GST, related to services provided to customers maintaining minimum balances.
The net liquidity surplus in the banking system fell to Rs 16,875 crore on Thursday the latest data by the Reserve Bank of India (RBI) showed, lowest since 22 January.
Meerut police have uncovered a Goods and Services Tax (GST) fraud involving crores of rupees, leading to the arrest of one individual. The investigation revealed a network of fake firms used to illegally claim input tax credits, causing significant losses to the government.
India's GST revenues experienced significant growth in March, reaching pre-tax cut levels, driven by increased imports and domestic sales. The report analyses the impact of tax rate changes and provides insights into future trends and economic stability.
To meet liquidity pressure because of advance tax outflows this month, the Reserve Bank of India (RBI) has adopted a measured approach with its latest announcement of open-market operations (OMOs), worth Rs 1 trillion.
Fino Payments Bank's MD and CEO, Rishi Gupta, has been arrested for violating Goods and Services Tax laws, prompting the appointment of Ketan Merchant as the interim head.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
The proposals outlined in Budget 2026-27 represent a carefully crafted, multi-year strategy designed to strengthen India's big bets on the path to Viksit Bharat 2047, says Sameer Gupta.
After the last Budget's announcement of a major tax relief for those earning an annual salary of less than Rs 12 lakh, there is not much that individuals can look forward to in the forthcoming Budget, points out A K Bhattacharya.
India's gross GST collection increased by 8.1 per cent to over Rs 1.83 lakh crore in February, driven by higher import revenues and improved domestic sales. Despite some states reporting negative or below-average growth, experts see the overall trend as a sign of a maturing tax ecosystem and a confident domestic market.
The Swadeshi Jagran Manch (SJM) is advocating for the termination of the moratorium on customs duties for electronically transmitted digital products, arguing that it hinders self-reliance, causes revenue losses, and restricts India's ability to tax emerging technologies like AI.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
A new survey indicates that Indian employers are planning to increase hiring in the April-June quarter, driven by strong business confidence and domestic demand. The survey also highlights the impact of AI adoption on workforce strategy and the challenges of talent scarcity.
The Uttar Pradesh STF has arrested a man in connection with a Goods and Services Tax (GST) fraud estimated at Rs 15,000 crore. The accused allegedly used fraudulently obtained GST registrations to create fake firms and generate bogus invoices.
The Delhi High Court has directed the GST Council to consider lowering or abolishing the goods and services tax on air purifiers, citing worsening air quality in the national capital. The court has asked the council to meet at the earliest, even via video conference if necessary, to address the issue.
CGST Gurugram busts a large-scale fake GST registration racket operating in North Delhi, involving fraudulent invoices and ITC availment.
A shift appears underway in India's tax landscape. States with relatively smaller tax collections like Odisha and Telangana are emerging as the fastest-growing contributors to indirect and direct tax collections, respectively.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
Gross GST collections rose 6.2 per cent to a three-month high of over Rs 1.93 lakh crore in January, indicating increased consumption is making up for rate cuts late last year, sources said on Sunday.
India Ratings & Research (Ind-Ra) has projected the aggregate fiscal deficit of states to rise to 3 per cent of gross domestic product (GDP) in 2026-27 (FY27), from an estimated 2.8 per cent in 2025-26 (FY26), citing higher revenue expenditure amid election-related pressures and scheme cost-sharing requirements.
A senior Goods and Services Tax (GST) officer has been arrested in connection with the alleged suicide of a junior colleague, who was reportedly facing harassment and pressure to engage in unethical practices.
The local chapter of Indian Chamber of Commerce and Industry in Coimbatore has again appealed to the Centre to reconsider the imposition of service tax on goods transportation.
Laying the roadmap for the introduction of a goods and service tax (GST), state governments on Tuesday proposed a dual GST structure, with two rates for goods and a single rate for services. The tax would be levied both by the Centre and the states, though there is still no clarity when the new tax regime will be implemented.
The Directorate General of GST Intelligence (DGGI) has uncovered a fake input tax credit racket worth approximately 593 crore in Karnataka, leading to the arrest of the alleged mastermind.
'Repeated adjournments are one of the largest contributors to lengthy litigation cycles.'
Shares of electric vehicle (EV) maker Ola Electric Mobility fell nearly 7 per cent to a fresh low on Monday after its revenue growth in the third quarter (October-December/Q3) of 2025-26 (FY26) slowed, with analysts warning that any turnaround could be prolonged.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
Cigarette-to-soap conglomerate ITC on Thursday reported a consolidated net profit (attributable to owners) of Rs 4,931.19 crore for the third quarter (October-December/Q3) of 2025-26 (FY26), affected by a one-time provision related to the new labour codes and a base effect from an exceptional item in Q3 of 2024-25. In the year-ago period, net profit had stood at Rs 4,934.8 crore.
The idea of back-loading the target of fiscal consolidation is perhaps guided by the government's desire to be prepared for any adverse developments in the coming year, points out A K Bhattacharya.
India's economy experienced a growth of 7.8 per cent during the October-December quarter of 2025-26, according to the new series of national accounts with 2022-23 as the base year.
With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
Any reduction on purifiers would need consensus among state finance ministers.
Kanpur police have uncovered a GST fraud racket where suspects used unsuspecting individuals' documents to create fake firms and route transactions worth nearly Rs 250 crore.
ICICI Bank on Thursday said tax authorities have slapped a demand notice of Rs 238 crore on it for alleged short payment of GST.
The reason is because there aren't any screens for a large mass of Indians.
InterGlobe Aviation, the operator of IndiGo, has approached the Delhi high court seeking a refund of over Rs 900 crore it claims to have paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs. The petition came up for hearing on Friday before a bench of Justices Prathiba M Singh and Shail Jain.
UltraTech Cement on Saturday said it has received a GST demand notice for a total payment of Rs 782.2 crore, which it plans to contest before the appropriate forum.
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