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.
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.
Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors that led to a shortfall in tax payment.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
Trump administration will use "alternative legal authorities" to enforce tariffs on the countries, assuring that the tariff revenue will remain unchanged.
A parliamentary committee has criticized Indian Railways for slow train speeds, discrepancies in 'superfast' fares and inadequate punctuality standards.
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
Gross GST collection increased 7.5 per cent to about Rs 1.96 lakh crore in July on higher domestic revenues and taxes from imports. Gross Goods and Services Tax (GST) mop-up was Rs 1.82 lakh crore in July 2024. Last month, the collection was Rs 1.84 lakh crore.
Net direct tax collection grew 8 per cent to over Rs 17.04 lakh crore this fiscal till December 17 on slower refunds and higher advance taxes from corporates, the income tax department data showed on Friday.
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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.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
Filing a belated return is far better than not filing at all.
Upset fans express disappointment after 4th T20I abandoned due to air pollution.
Gross GST collections rose 6.1 per cent to over Rs 1.74 lakh crore in December 2025, even as sweeping tax cuts slowed down growth in revenues from domestic transactions, according to government data released on Thursday.
The Securities and Exchange Board of India (Sebi) has granted a no-objection certificate (NOC) to the National Stock Exchange of India (NSE), paving the way for the country's biggest exchange - currently valued at 5 trillion in the unlisted market - to file draft documents for its long-awaited initial public offering (IPO).
At least 148 flights were cancelled and over 150 flights were delayed at the Delhi airport on Wednesday due to dense fog and low visibility conditions.
IndiGo is operating 1,650 flights of its 2,300 daily domestic and international flights on Sunday, and 650 remain cancelled for the day, amid the airline's operations gradually stabilising after massive disruptions in the last five days, the airline said.
The Securities and Exchange Board of India (Sebi) has, in principle, agreed to the proposed settlement of the long-pending colocation and dark fibre cases filed by the National Stock Exchange (NSE), Sebi chairman Tuhin Kanta Pandey said on Wednesday.
The police in Kolkata have arrested the organiser of the event surrounding Argentine footballer Lionel Messi's visit to the Salt Lake Stadium after chaos broke out when the superstar stayed only for a few minutes and was not visible to most fans in attendance.
The Supreme Court has clarified that a decree passed only against a real estate developer cannot be enforced against its directors or promoters in their personal capacity unless the original adjudication clearly finds them liable.
To digitise Customs processes, the Union finance ministry is planning to integrate the Indian Customs Electronic Gateway (ICEGATE), Risk Management System (RMS), and Indian Customs Electronic Data Interchange System (ICES) into a single unified national Customs platform, according to government sources.
The Delhi High Court refused to entertain a PIL seeking compensation for passengers affected by IndiGo flight cancellations, citing an ongoing related case.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
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Cricket Australia were left millions of dollars out of pocket, having to refund tickets for a confirmed sell-out crowd on day three at the 100,000-seat stadium and for another large crowd for day four.
Civil Aviation Minister Ram Mohan Naidu addressed the Lok Sabha regarding the recent IndiGo flight disruptions, assuring that the airline will be held accountable and strict action will be taken for non-compliance and passenger hardship.
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.
Passengers may think they are just booking a ticket, but airlines' clever design tricks are quietly picking their pockets.
The country's largest airline IndiGo, which faced massive operational disruptions earlier this month, saw its domestic market share slide to 63.6 per cent in November, according to official data. Air India Group, comprising Air India and Air India Express, and SpiceJet had their respective market shares in November rise to 26.7 per cent and 3.7 per cent, respectively.
With winter holidays approaching, some Indian travellers will venture abroad. Many will be underprepared for medical and other travel-related risks. Trip disruptions, missed connections, and steep medical costs in developed countries can leave travellers exposed if they underestimate the coverage they need.
DGCA provided temporary relief to IndiGo, which is partially owned by Rahul Bhatia, by rolling back the night duty definition to 12 am-5 am from 12 am-6 am earlier, and allowing its pilots to do six night-landings from two earlier, besides other relaxations.
Cricket Australia are bracing for a massive loss of around Aus $10m ($7.72 million), according to media reports in Australia.
If you travelled on IndiGo in the last few days -- or if you were stranded at an airport because of these delays -- share your experience with us at getahead@rediff.co.in.
Taking a serious note of the situation, the civil aviation ministry said it has invoked regulatory powers to ensure fair and reasonable fares across all affected routes.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
According to sources, the crisis-ridden airline cancelled 137 flights at Delhi airport and 21 services at Mumbai airport.
An Air India Airbus A350 sustained engine damage after ingesting a baggage container while taxiing at Delhi airport. The incident occurred after the flight returned to Delhi due to the unexpected closure of Iranian airspace. The DGCA is investigating.
Aviation Minister K Rammohan Naidu said the government has initiated an inquiry into Indigo's mass flight cancellations and will take strict action against the operator to set an example for other airlines.
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