TAXATION


Moneylife Digital Team 05 September 2025
In a significant positive turn for India's corporate landscape, a new report by CRISIL Intelligence reveals that recent goods and services tax (GST) rate cuts are set to provide a 'marginal revenue lift' for India Inc. The research note projects that corporate revenue will likely grow by 6%-7%...

Read More



Moneylife Digital Team 04 September 2025
In a landmark move to simplify India’s indirect tax regime, the goods and services tax (GST) council has approved sweeping reforms, collapsing the four-tier tax structure into two basic slabs of 5% and 18%, with a new 40% rate for sin and luxury goods. The changes, branded as GST 2.0, will take...

Read More



Moneylife Digital Team 04 September 2025
The goods and services tax (GST) council has announced sweeping changes to the GST, restructuring slab rates across multiple categories of goods and services. The move, effective 22 September 2025, is being described as one of the most significant overhauls of the GST framework since its...

Read More



Moneylife Digital Team 04 September 2025
Car and motorcycle buyers are set to benefit from lower prices this festive season after the goods and services tax (GST) council approved a sweeping rate overhaul, bringing small cars and entry-level two-two-wheelers (2Ws) under the 18% tax bracket. The move, part of the Union government’s...

Read More



Moneylife Digital Team 04 September 2025
In a historic step toward overhauling India’s indirect tax system, the goods and services tax (GST) Council, chaired by Union minister of finance Nirmala Sitharaman, approved sweeping rate rationalisation reforms, cutting the existing four-rate GST structure to just two slabs — 5% and 18%. By...

Read More



Moneylife Digital Team 03 September 2025
Finance ministers from eight Opposition-ruled states met on Wednesday ahead of the 56th goods and services tax (GST) council meeting, seeking compensation for potential revenue losses following the proposed GST rate revisions.   The states—Himachal Pradesh, Jharkhand, Karnataka, Kerala,...

Read More



Moneylife Digital Team 03 September 2025
Countering concerns that rationalising goods and services tax (GST) rates would dent revenue collections, an analysis by State Bank of India (SBI) on GST 2.0 argues that experience shows rationalisation tends to strengthen revenues over time, with the Union and state governments emerging as net...

Read More



Moneylife Digital Team 03 September 2025
The Supreme Court has dismissed the income-tax (I-T) department’s special leave petition (SLP) against an order passed by the Bombay High Court (HC) which quashed a reassessment notice issued to Prakash Pandurang Patil for assessment year (AY)18–19. The apex court, while refusing to interfere,...

Read More



Moneylife Digital Team 01 September 2025
India’s goods and services tax (GST) collections rose 6.5% in August to Rs1.86 lakh crore, supported by stronger domestic consumption even as imports slowed. The figure compares with Rs1.75 lakh crore collected in August last year but was lower than July’s Rs1.96 lakh crore.   According to...

Read More



On 15th August, India’s prime minister, Narendra Modi, used his Independence Day address to announce a sweeping simplification of the country’s goods and services tax (GST). The patchwork of four main rates—5%, 12%, 18% and 28%—will be collapsed into two: 5% and 18%. A punitive 40% levy will...

Read More



Moneylife Digital Team 25 August 2025
While dismissing an appeal filed by a taxpayer, who claimed long-term capital gains (LTCG) exemption of Rs84.79 lakh on the sale of penny stocks, the Mumbai bench of the income tax appellate tribunal (ITAT) ruled that the transactions were 'unnatural, suspicious, and pre-arranged'.   In an...

Read More



Moneylife Digital Team 20 August 2025
The Indian government’s proposed goods and services tax (GST) 2.0 rationalisation could become a major demand-side stimulus, boosting consumption, moderating inflation and sustaining growth, with little impact on the fiscal deficit, says a research note from State Bank of India (SBI).   The...

Read More



Moneylife Digital Team 18 August 2025
A planned visit by US trade negotiators to New Delhi later this month has been called off, casting fresh uncertainty over the future of the proposed India-US bilateral trade agreement (BTA) and heightening anxiety over a looming tariff hike on Indian exports.   According to a Reuters report,...

Read More



Moneylife Digital Team 18 August 2025
The directorate general of trade remedies (DGTR) under the Union ministry of commerce, has recommended a three-year safeguard duty on imports of certain non-alloy and alloy flat steel products, after concluding that a 'recent, sudden, sharp and significant' rise in shipments has caused serious...

Read More



Moneylife Digital Team 06 August 2025
In a scathing indictment of investigative practices under the goods and services tax (GST) regime, the Punjab and Haryana High Court (HC) has granted bail to two accused in a Rs107 crore fake billing and input tax credit scam, criticising the directorate general of GST intelligence (DGGI) for...

Read More



Moneylife Digital Team 05 August 2025
The income-tax (I-T) department is probing whether global proprietary trading giant Jane Street has violated India’s Place of Effective Management (POEM) rules, a tax framework aimed at curbing offshore control of Indian entities, amid allegations the firm is not cooperating with investigators,...

Read More



Moneylife Digital Team 04 August 2025
The directorate of enforcement (ED) has arrested Viresh Gangaram Joshi, former chief dealer and fund manager of Axis Mutual Fund (Axis MF), in connection with a massive front-running scam that allegedly generated over Rs200 crore in illicit profits between 2018 and 2021. The arrest follows...

Read More



KBS Sidhu 01 August 2025
The 25% jolt: Can Indo-US trade weather Trump’s new tariff storm?   President Donald Trump on 30 July 2025 declared that every good entering the United States from India will face a 25% ‘reciprocal’ tariff, plus an unspecified penalty, from 1 August 2025. In a Truth Social post, he wrote in...

Read More



Chandramouli Mohan 29 July 2025
The story so far: A regulatory tightrope walk For years, banks in India routinely imposed penal interest ranging from 1% to 3% on loans and advances. This charge kicked in if borrowers delayed repaying instalments, interest, or EMIs (equated monthly instalments), or failed to meet the terms...

Read More



Moneylife Digital Team 23 July 2025
As India marks eight years since the rollout of the goods and services tax (GST), a new report by the State Bank of India (SBI) Research has sounded a cautionary note on the unintended fallout of aggressive tax scrutiny, particularly on small traders. While acknowledging GST’s contribution to...

Read More

Free Helpline
Legal Credit
Feedback