GST Cut Fuels Registration of Nearly 10,000 New Vehicles in Chandigarh Issue: To analyze the surge in new vehicle sales and registrations in Chandigarh during the September-October festive period, and to confirm the role of the recent Goods and Services Tax (GST) rate reduction as the primary economic catalyst. Facts: The GST cut on… Read More »
SBI Report: October GST Collections Defy Rate Rationalisation Fears Issue: To analyze the actual impact of the Goods and Services Tax (GST) rate rationalization (GST 2.0) on revenue collections, specifically addressing the widespread apprehension among state governments and economists about a massive decline in GST revenue post-rate cuts. Facts: GST rates were slashed on… Read More »
UPI Transactions Hit Record ₹27.28 Trillion in October Issue: To analyze the dramatic surge in the volume and value of transactions processed through the Unified Payments Interface (UPI) during October 2025 and identify the major economic and policy factors contributing to this record growth. Facts: The GST 2.0 rate rationalization, which slashed tax rates… Read More »
Government Introduces 5% GST on Horse Sales at Pushkar Fair Issue: The state Goods and Services Tax (GST) department introduced a tax levy on the sale of horses at the renowned Pushkar Fair, marking a new step in formalizing and taxing the high-value animal trading sector. Facts: The state GST department introduced a 5%… Read More »
Zydus Lifesciences Faces ₹74 Crore Demand Over IGST Refund Calculation Issue: The Common Adjudication Authority raised a large tax demand against Zydus Lifesciences Ltd. for the alleged excess claim of Integrated Goods and Services Tax (IGST) refund on the export of goods, based on a dispute over the correct valuation method. Facts: Zydus Lifesciences… Read More »
CBI Lodges Assets Case Against CGST Assistant Commissioner Issue: The Central Bureau of Investigation (CBI) registered a criminal case against a high-ranking Central Goods and Services Tax (CGST) official on charges of possessing disproportionate assets (DA) that could not be justified by their known sources of income. Facts: The accused is an Assistant Commissioner… Read More »
Insurers: GST Waiver Alone Not Enough to Deepen Penetration Issue: To assess the long-term impact of the Goods and Services Tax (GST) exemption on individual life and health insurance premiums, with insurance industry leaders concluding that while the waiver aids affordability, it is insufficient on its own to achieve the national goal of deep… Read More »
Income Tax Tribunal Upholds 22% Tax on Capital Gains, Sparks Controversy Issue: Whether the Income Tax Appellate Tribunal (ITAT) correctly affirmed a special tax rate of 22% on certain capital gains realized by an assessee, leading to controversy and raising questions about the uniformity of capital gains taxation under the Income Tax Act. Facts:… Read More »
Income Tax Tribunal Upholds 22% Tax on Capital Gains, Sparks Controversy Issue: Whether the Income Tax Appellate Tribunal (ITAT) correctly affirmed a special tax rate of 22% on certain capital gains realized by an assessee, leading to controversy and raising questions about the uniformity of capital gains taxation under the Income Tax Act. Facts:… Read More »
Industry Body Pushes for Faster Tax Dispute Resolution; Calls for Clearing High-Value Appeals Within a Year Issue: To address the severe backlog in tax litigation (estimated at nearly ₹18 lakh crore in disputed demand), the Confederation of Indian Industry (CII) submitted pre-Budget recommendations urging the government to fundamentally transform the tax system from “dispute-driven” to… Read More »