Chhattisgarh Launches UPI, Card Payments for GST Returns Issue: To simplify the process of making Goods and Services Tax (GST) payments, enhance transparency, and improve the ease of doing business for traders and businesses in Chhattisgarh by offering diverse digital payment methods. Facts: The Chhattisgarh government, led by Chief Minister Vishnu Deo Sai and… Read More »
Karnataka Panel Proposes Higher User Charges and Tax Reforms for Revenue Boost Issue: To address key financial challenges, particularly the low non-tax revenue and reliance on a few major tax sources, the Karnataka government’s committee recommended comprehensive reforms focused on maximizing non-tax collections and modernizing tax administration. Facts: The Resource Mobilization Committee (RMC), headed… Read More »
Finance Bill 2026 to Carry Key GST Reforms for Automation and Liquidity Issue: To formalize the legislative framework for the “Next-Gen GST 2.0” structural and procedural reforms—specifically concerning fast-track registration and automated provisional refunds—by introducing necessary amendments to the GST law through the upcoming Finance Bill 2026. Facts: The GST Council and the government… Read More »
CBDT Retains Transfer Pricing Tolerance Levels for AY 2025-26 Issue: To provide continuity and stability in the application of Transfer Pricing (TP) regulations, the Central Board of Direct Taxes (CBDT) formalized the tolerance range for assessing the difference between the actual price of a related-party transaction and the Arm’s Length Price (ALP) for the… Read More »
Price Relief Lags: Six Weeks After GST 2.0, Consumers Await Full Benefit on Essentials Issue: To assess the effectiveness of the GST 2.0 rate rationalization in translating into commensurate price reductions for consumers, particularly for daily necessities, six weeks after the revised rates came into effect. Facts: The GST Council lowered tax rates on… Read More »
Swift Uptake of Three-Day Simplified GST Registration Scheme Issue: To gauge the initial industry response and uptake of the recently launched fast-track, risk-based GST registration process, which promises to grant approval to eligible low-risk applicants within three working days. Facts: The fast-track registration route under the Goods and Services Tax (GST) regime went live… Read More »
GST Rate Cuts Offset US Tariff Impacts to Drive Manufacturing Growth Issue: To analyze how the strong domestic stimulus provided by the Goods and Services Tax (GST) rate rationalization helped insulate the Indian manufacturing sector from the negative financial impact of high US import tariffs, sustaining overall output growth. Facts: The GST rates were… Read More »
RBI Dividend Expected to Offset GST Revenue Shortfall in FY26 Issue: To assess the overall fiscal balance for the government in the current financial year (FY26), particularly how the anticipated revenue shortfall from Goods and Services Tax (GST) rate cuts will be managed and offset by higher-than-budgeted non-tax revenue. Facts: The recent GST rate… Read More »
RBI Dividend Expected to Offset GST Revenue Shortfall in FY26 Issue: To assess the overall fiscal balance for the government in the current financial year (FY26), particularly how the anticipated revenue shortfall from Goods and Services Tax (GST) rate cuts will be managed and offset by higher-than-budgeted non-tax revenue. Facts: The recent GST rate… Read More »
GST Team Sets Up Camp at Pushkar Fair for Tax Compliance Issue: To enforce tax compliance and collect the recently introduced Goods and Services Tax (GST) on high-value horse sales at the traditional Pushkar Fair in Rajasthan. Facts: The state GST department recently introduced a 5% GST on the sale of live horses. The… Read More »