10 Mar, 2025
Introduction The Goods and Services Tax (GST) framework in India continues to evolve with new amendments aimed at improving compliance and revenue generation. In a major move, the GST Council, in its 55th meeting on December 21, 2024, decided to reconstitute the Group of Ministers (GoM) on GST revenue analysis with an expanded Terms of […]
Read More10 Mar, 2025
Introduction India’s tax system is undergoing a massive transformation in 2025 to simplify processes and improve compliance. Two major updates are: These changes will impact individual taxpayers, businesses, and professionals alike. Let’s break them down. The Income Tax Bill, 2025: A Fresh Start for Taxpayers The new Income Tax Bill, 2025, aims to replace the […]
Read More08 Mar, 2025
Introduction In a move to refine tax collection strategies and boost revenue efficiency, the GST Council has reconstituted the Group of Ministers (GoM) on GST revenue analysis. The restructuring aims to analyze state-wise tax collections, identify revenue patterns across sectors, and evaluate the impact of economic factors on GST compliance. The revised GoM, led by […]
Read More08 Mar, 2025
Introduction: Protecting Taxpayers’ Rights in GST Seizures The Delhi High Court recently ruled that the GST Department must provide notice before extending the period of seizure under Section 67(7) of the Central Goods and Services Tax (CGST) Act, 2017. This judgment aligns with the Supreme Court’s interpretation of Section 110 of the Customs Act, 1962, […]
Read More08 Mar, 2025
Introduction The Indian government’s 2025 Union Budget has introduced significant changes in the taxation landscape, aiming to simplify processes and boost economic growth. These reforms encompass revisions to income tax slabs, the introduction of a new Income Tax Bill, updates to Goods and Services Tax (GST) regulations, and notable legal rulings. This article delves into […]
Read More07 Mar, 2025
Introduction The absence of a GST Tribunal in India is causing significant hardship for taxpayers. Despite the Central Government’s announcement six months ago, the tribunal is yet to be established. This delay has forced taxpayers to take their appeals directly to the High Court, adding to an already overwhelming backlog of cases. Currently, GST disputes […]
Read More07 Mar, 2025
Introduction The Chief Minister of Madhya Pradesh recently proposed an increase in the states’ share in central taxes from 41% to 48% to the 16th Finance Commission. This recommendation has sparked debates about fiscal federalism, revenue allocation, and financial autonomy of states. But what does this proposal mean for India’s economic structure? Understanding the Tax […]
Read More07 Mar, 2025
Introduction The Rajasthan GST Department has announced a mandatory virtual hearing system for all tax matters, aiming to enhance transparency and efficiency in tax proceedings. This move aligns with para 143 of the Budget Speech 2025-26 and is authorized under Section 168 of the Rajasthan GST Act, 2017 (RGST Act, 2017). This initiative is part […]
Read More06 Mar, 2025
Introduction In 2025, Indian states are poised to embark on an unprecedented borrowing spree, with plans to raise a record ₹4.73 trillion in the first quarter alone. This surge in debt supply is set to elevate borrowing costs, posing significant challenges to state finances and the broader economy. The Debt Landscape: A Closer Look Rising […]
Read More06 Mar, 2025
Introduction In a significant move to manage liquidity deficits, the Reserve Bank of India (RBI) has announced an injection of ₹1.9 lakh crore into the financial system. This will be executed through Open Market Operations (OMO) and a USD/INR Buy/Sell Swap auction worth $10 billion in March 2025. Why is RBI Injecting Liquidity? Several factors […]
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