Tag: goods and services tax
GST 2.0 makes it less taxing as govt scrap arrest powers, raise prosecution threshold to Rs 5 crore in major overhaul
New Delhi: The GST Council approved a sweeping recast of the indirect tax structure that includes scrapping arrest powers, besides easing the compliance structure and…
Auto dealers warn price hike could hit GST-led sales boom
Automobile dealers are warning carmakers that price hikes could wipe out the benefit of last year’s goods and services tax (GST) cut, potentially slowing the…
Expert panel recommends bringing petrol, diesel and ATF under GST regime
An expert panel constituted by India’s downstream petroleum regulator recommended bringing petrol, diesel and aviation turbine fuel under the ambit of the Goods and Services…
GST enforcement may shift from ‘arrest’ to ‘detect, recover and prosecute serious frauds’
New Delhi: The Goods and Services Tax (GST) enforcement framework might soon see significant changes with tax officers likely to lose the power to arrest…
GST Council may scrap arrest provisions, fast-track refunds with 90% automatic payout
New Delhi: The 57th GST Council meeting is likely to consider major changes in tax compliance, including a proposal to remove arrest provisions under the…
India’s new GDP series: GST, corporate data drive new methodology
New Delhi: India’s new gross domestic product series makes greater use of corporate filings, goods and services tax records and labour surveys, the statistics ministry…
India set to sustain 6.5-7% real GDP growth, nominal growth seen at 11-12%: Jefferies
India is on track to record real GDP growth of 6.5-7 per cent in the current fiscal year, while nominal GDP growth is expected to…
India placed better in economy despite global challenges, says FM Sitharaman
India is in a stronger economic position despite challenges facing the world, Union Finance Minister Nirmala Sitharaman said on Wednesday, while calling for a more…
Japan’s JCRA upgrades India’s sovereign rating to A-, cites strong growth, financial stability
The Japan Credit Rating Agency (JCR) has upgraded India’s sovereign credit rating by one notch to A- from BBB+, citing the country’s sustained high economic…
India’s Q1 GDP growth quickens to 7.8% as consumption, capex offset US-Iran war shock
India’s gross domestic product (GDP) quickened to 7.8% in the first quarter of FY27, up from revised 6.9% in the same quarter last year, as…