Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June but slipped below the Rs 2 lakh crore mark recorded in the previous two months. Gross GST collections stood at Rs 173,813 crore a year ago, as per government data released on Tuesday.
'I am doing the drive in making sure that people pass this on. So the drive is not with distrust. The drive is just in case.' 'Just in case it doesn't get passed on, I am here.'
'It was like rigorously preparing for a solid, good exam...' 'I don't know what marks I will get, but I felt the rigorous preparation of an exam.' 'You may sweat, but I feel rejuvenated.'
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
The average Indian worker must labour for an extraordinary 160 full working days to afford Apple's latest iPhone 17 Pro.
The decision to hike US H-1B visa application fee to $100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said.
Payment in cash for buying goods and services worth more than Rs 2 lakh with the exception of jewellery will attract 1 per cent tax collected at source (TCS) from Wednesday.
The government has no say in where the country's refiners source oil from because these are commercial transactions.
The rising tide of Indian nationalism meant that the people of princely states now were keen to become a part of a united and integrated India rather than remain subjects of a princely state. The Congress too supported the people's wish and it fell upon Patel to get the princes to agree. He did so magnificently, using every trick available, whether it was sweet talk or coercion; the rulers buckled and Patel earned the eternal gratitude of the entire nation.
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
India finalised a free trade agreement with the UK, its 16th so far as the country aimed at boosting bilateral trade and investments. The other regions and countries with which India has signed such agreements include the four-nation European bloc EFTA, Japan, Korea and Australia.
Traders in Karnataka are raising concerns over GST demand notices based on UPI transaction data. A tax official defends the action, stating it's within the law and recipients can respond with documentation.
Talking to reporters in New Delhi, Angmo challenged authorities to an open debate on the allegations, including those suggesting links to Pakistan, and said neither she has been able to contact Wangchuk nor has she been provided with formal documents detailing the charges against him by the administration.
'I do believe there will be a resolution in the next couple of months on the penal tariff and hopefully on the reciprocal tariff also.'
Turkiye and Azerbaijan backed Pakistan and condemned India's recent strikes on terror camps in that country and Pakistan-occupied Kashmir under Operation Sindoor.
India needs Goods and Services Tax (GST) Council-like common platforms between states and the Centre in areas such as land clearances, power, and water to fast-track infrastructure projects to achieve double-digit growth going ahead, said Praveer Sinha, chief executive officer and managing director of The Tata Power Company.
'A balanced portfolio mix of domestic and international equity, fixed income, and precious metals is recommended.'
'There is responsibility to make great games that are played by audiences, that fill the gap from an entertainment perspective.'
'Today, we have 2 million active drivers earning through our platform every month.'
At the stroke of midnight, live dashboards lit up simultaneously across Amazon India's World Trade Centre headquarters and Flipkart's Outer Ring Road office in Bengaluru. In sprawling "war rooms" at both the companies, executives monitored real-time data streams tracking payment speeds, inventory levels, and delivery logistics as millions of shoppers flooded online platforms.
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
Despite the benefits of hybrid technology, a lack of government backing and few launches have kept the segment from gaining ground.
The industry employs about 10 million workforce.
Gross GST collections remained above the Rs 2 trillion mark for the second month in a row, rising 16.4 per cent in May to over Rs 2.01 lakh crore. Goods and Services Tax (GST) collection had touched a record high of Rs 2.37 lakh crore in April. In May, 2024, the mop up was Rs 1,72,739 crore.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
The textile and apparel sector is India's second-largest employment provider, after agriculture, and it is now caught in a wave of uncertainty following the Donald Trump administration's tariff policy.
The earlier attempt at its auction had received a bid of Rs 1.09 crore as against the then reserve price of Rs 152 crore
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
The more things change, the more they remain the same for corporate India. In the April-June 2025 period (Q1FY26) - for the ninth consecutive quarter - listed companies witnessed only single-digit revenue growth, while their core earnings, excluding other income and one-time gains, contracted for the second time in four quarters. This comes as firms brace for the impact of 50 per cent US tariff on Indian goods.
Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
In a recent clarification, the Central Board of Indirect Taxes and Customs (CBIC) provided insights into the goods and services tax (GST) treatment of transactions involving vouchers. According to the CBIC, vouchers can be categorised into two types.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Andhra Pradesh will establish two expansive integrated space cities in Lepakshi and Tirupati, spanning around 33,000 acres.
'The kids are already used to this place. We go back and that's a different environment.' 'So, mentally, emotionally we are stressed.'
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
For every rupee in the government coffer, the biggest pie of 63 paise will come from direct and indirect taxes, according to the Union Budget 2024-25 documents.
'It's important for India to think about areas where it wants the US to move.' 'We can be far more innovative in what we ask the US.' 'Given that there's a package deal, why not do it?'
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
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