Tag: itc
GST Council bets on faster refunds, lower penalties to ease business burden
The 57th GST Council meeting has shifted focus from rate rationalisation to easing compliance, accelerating refunds, and reducing litigation, tax experts said, while flagging potential…
GST 2.0’s next move: Council may scrap officers’ arrest powers, raise prosecution bar to Rs 5 crore
The Goods and Services Tax Council is likely to consider a sweeping overhaul of tax enforcement at its October 7 meeting, including scrapping the power…
GST, auto sales, UPI data point to resilient growth in August
New Delhi: Several macro indicators released on Tuesday brought further economic cheer, underscoring domestic resilience in the face of tariff headwinds and the lingering crisis…
ITC fraud worth Rs 74,782 crore detected in FY26; Maharashtra, Gujarat lead
Central GST officers detected 30,162 cases of input tax credit (ITC) fraud involving Rs 74,782 crore in 2025-26, with Maharashtra and Gujarat accounting for the…
India-UK FTA unlikely to hurt domestic consumer brands, industry says
New Delhi: Domestic consumer products makers and retailers shrugged off concerns over increased competition anticipated after the implementation of the free trade agreement (FTA) with…
India’s higher nominal GDP growth may help contain fiscal pressures despite global risks: EY
New Delhi: India’s higher nominal GDP growth in FY27 is likely to help the government keep its fiscal deficit under control despite global uncertainties, according…
India well-poised for rapid growth despite risks from West Asia war and El Nino: ITC
Consumer packaged goods major ITC has said that India’s economy remains well-positioned for sustained medium-term growth despite near-term challenges stemming from geopolitical tensions in West…
GST@9: Building a more seamless, certainty-driven input tax credit framework
As India’s good and services tax (GST) regime approaches its ninth anniversary, it is undoubtedly clear that it has been a landmark reform that has…
India begins wheat exports after four-year hiatus on bumper crop
MUMBAI: Indian traders have begun exporting wheat for the first time in four years, as a bumper harvest and a rally in global prices and…
US slaps 123% anti-dumping duty on Indian solar imports
New Delhi: The US has announced a preliminary anti-dumping duty of 123.04% on solar cells and modules from India, a move expected to further restrict…