Tag: Goods and Services Tax (GST)

Personal income tax collection overtakes corporate tax: Report

The share of personal income tax in total direct taxes rose sharply from 38.1 per cent in FY14 to 53.4 per cent in FY24, while corporate taxes declined from 61.9 per cent to 46.6 per cent over the same period.

August 27, 2025

Online Gaming Bill awaits Presidential assent, followed by quick rollout: Secretary MeitY

The secretary has acknowledged that the new legislation is expected to result in some loss in GST collections. Going by estimates, the annual losses to the exchequer are expected to be around Rs 15,000-20,000 crore.

August 22, 2025

GST reforms to boost affordability and consumption across sectors: Report

 report further added that consumer durables and automobiles will see increased demand due to lower GST rates on white goods and small vehicles.

August 19, 2025

Small Cars Could Get 8% Cheaper if GST Cut to 18%, Says HSBC Report

At present, passenger vehicles attract GST between 29 per cent and 50 per cent, as access is levied in addition to the standard 28 per cent tax depending on a vehicle’s size and length.

August 19, 2025

GST rationalisation to boost consumer sentiment and drive demand: Report

The report highlighted that the reforms will focus on rationalising GST rates for essentials and daily-use items.

August 18, 2025

Congress Seeks Discussion Paper on GST 2.0 After PM Modi Promises ‘Double Diwali Gift’

Congress General Secretary Jairam Ramesh said GST must evolve into a “Good and Simple Tax” instead of remaining a “Growth Suppressing Tax.”

August 16, 2025

Economic activity firm over good kharif prospects, strong services sector, modest industrial activity: RBI

The global macroeconomic environment remained fluid in June and July so far amid geopolitical tensions and tariff policy uncertainties.

July 23, 2025

Five states account for nearly 50% of active GST taxpayers; UP leads: SBI Report

This indicates a significant concentration of tax registration in a handful of states, highlighting the scope for improvement in others.

July 22, 2025

GST Collection Rises to ₹1.85 Lakh Crore in June, Up 6.2% YoY Despite Global Headwinds

While June’s figures marked an annual increase, they were lower than May’s ₹2.01 lakh crore and the record-high ₹2.37 lakh crore collected in April 2025.

July 1, 2025

Congress moves adjournment notice urging Centre to reconsider decision to impose 18 pc GST tax on shops rental

Citing a survey by the Confederation of All India Traders (CAIT), he said that 72 per cent of shopkeepers have reported a decline in sales due to increased costs.

December 4, 2024