New Delhi, April 10 (IANS) The Government of India is continuing its proactive and coordinated response to the evolving situation in West Asia, with the Commerce and Shipping Ministries convening high‑level stakeholder consultations to address emerging logistics, packaging, and shipping‑related challenges impacting India’s trade and export ecosystem, according to an official statement issued on Friday. Two important meetings were held, one under the chairpersonship of the Commerce Secre…
Latest Goods and Services Tax News & Updates
New Delhi, April 9 (IANS) In a significant development for India’s energy sector, the first coal dispatch from the Gare Palma Sector–2 (GP2) coal mine in Chhattisgarh’s Raigarh district officially commenced on Thursday. The move is expected to strengthen fuel supply to Maharashtra’s power plants and reinforce long-term energy security.The coal block is being developed for Maharashtra State Power Generation Company Limited, the state-run utility responsible for a major share of electricit…
Jaipur, April 9 (IANS) A major financial fraud has surfaced in Ajmer after the Income Tax Department issued a notice to a roadside clothes presser over transactions exceeding Rs 598 crore linked to diamond trading. The presser, Jitendra Kumar, who runs an ironing cart in the Ramnagar area, was left shocked and frightened upon receiving the notice on April 1, 2026. The transactions mentioned involved high-value diamond and jewellery deals far beyond his means.According to his lawyer, Rakesh…
Bengaluru, March 6 (IANS) Karnataka Chief Minister Siddaramaiah on Friday said the rationalisation of Goods and Services Tax (GST) rates by the Central Government has adversely affected the state’s revenue collections, leading to a significant shortfall in the current financial year.Presenting the state Budget for 2026–27, Siddaramaiah said the rate changes are expected to result in an estimated revenue shortfall of about Rs 10,000 crore for the state in the current financial year, while a sho…
Mumbai, March 5 (IANS) Maharashtra’s economy is set to grow at 7.9 per cent in 2025-26 against the India’s growth rate of 7.6 per cent especially due to a record collection of Goods and Services Tax and favourable market conditions. Maharashtra continues to be the growth engine of the country. The nominal Gross State Domestic Product (GSDP) at current prices is expected to grow by 10.4 per cent. According to the Economic Survey for 2025-26 presented by the Minister of State for Finance Ashish …
New Delhi, March 2 (IANS) Himachal Pradesh Chief Minister Sukhvinder Sukhu on Monday called on Union Finance Minister Nirmala Sitharaman here and sought a financial package under special central assistance to cover the revenue deficit for 2026-27. The Chief Minister apprised the Union Finance Minister that discontinuation of Revenue Deficit Grant (RDG) will have a far-reaching adverse impact on the financial health of the state, adding that Himachal Pradesh cannot be compared to other states who…
Mumbai, Feb 23 (IANS) Shares of Sudarshan Pharma Industries slipped over 3 per cent on Monday after the Goods and Services Tax (GST) department initiated an inspection and search operation at the company’s registered office.The stock fell 3.06 per cent on the BSE to hit an intra-day low of Rs 25.62 per share. At 1:10 PM, the shares were trading at the same level, down 3.06 per cent.Over the past one year, Sudarshan Pharma’s stock has declined around 19 per cent, according to the official dat…
New Delhi, Feb 1 (IANS) The Goods and Services Tax (GST) collections reached Rs 1,93,384 crore in the month of January, up 6.2 per cent from the same month last year, official data showed on Sunday.Gross GST collections were Rs 1,82,094 crore in January. On a year-to-date basis (April–January), gross collections jumped to Rs 18,43,423 crore, marking a strong 8.3 per cent growth (on-year), the data showed.Moreover, the net GST revenue for January stood at Rs 1,70,719 crore, up 7.6 per cent from…
New Delhi, Jan 28 (IANS) India’s recent statistical reforms mark a decisive shift towards greater relevance, responsiveness, and credibility. By updating base years for GDP, Consumer Price Index (CPI), and Index of Industrial Production (IIP), strengthening the measurement of the informal and services sectors, and transforming labour statistics, the government has aligned official data more closely with the structure and dynamics of today’s economy, according to an official statement issued on…
Davos, Jan 22 (IANS) India’s reform-driven growth story is firmly on track and is earning strong global trust, Union Minister Ashwini Vaishnaw said on Thursday.Speaking on the sideline of World Economic Forum here, he said India’s economy has transformed into a high-growth and resilient system due to deep structural reforms personally led by Prime Minister Narendra Modi.Speaking on the sidelines of the Davos meeting, the Minister said that a series of landmark reforms in recent years have st…