New Delhi, June 10 (IANS) India’s domestic trade and logistics activity continued to display resilience in May, with e-way bill generation under the Goods and Services Tax (GST) regime rising to 136.08 million, marking an increase of nearly 11 per cent from 122.65 million recorded in the same month last year.The latest figures also showed a sequential growth of 2.03 per cent from 133.72 million e-way bills generated in April. The May tally represents the fourth-highest monthly e-way bill generat…
Latest Tax compliance News & Updates
New Delhi, June 10 (IANS) Bangladesh’s revenue mobilisation remains among the weakest globally, with the country collecting about 8 per cent of its GDP in government revenue in 2024, placing it only marginally above conflict-hit economies such as Yemen and Sudan, a report has said.Highlighting the International Monetary Fund (IMF) data, a report published in The Daily Star said that Bangladesh’s revenue-to-GDP ratio is the lowest among Asian economies and significantly below several peer cou…
Mumbai, May 8 (IANS) The government’s newly implemented Income Tax Act 2025 has made India’s tax system simpler, easier to understand and more taxpayer-friendly, Chief Commissioner of Income Tax (IT & TP) Nirupama Kotru said on Friday. Speaking to IANS on the sidelines of an awareness programme here, she said the reforms are aimed at helping ordinary citizens file returns without confusion and reducing dependence on tax professionals for basic compliance.“There has been no change in po…
New Delhi, May 3 (IANS) As the new financial year gains momentum, taxpayers must stay alert to a series of important compliance deadlines scheduled throughout May 2026, with experts stressing that timely action is essential to avoid penalties and additional charges.The month begins with a crucial deadline on May 7, when taxpayers are required to deposit tax deducted at source and tax collected at source for April.Government offices making payments without a challan must credit the tax to the Cen…
New Delhi, March 20 (IANS) Finance Minister Nirmala Sitharaman on Friday said the new Income-tax Act, 2025 will bring major relief for small business owners and professionals by simplifying rules and reducing compliance burden, while also aiming to cut down tax-related disputes.Speaking at the launch of the nationwide awareness campaign ‘PRARAMBH 2026’, FM Sitharaman highlighted that small businesses and professionals are the backbone of India’s economy and the new law has been designed ke…
New Delhi, Jan 22 (IANS) A FICCI pre-Budget survey on Thursday reflected strong optimism across industry, with nearly 80 per cent of respondents expressing confidence in India’s growth prospects.Nearly half of the participants expect GDP growth to remain in the 7–8 per cent range in FY 2026–27, reaffirming faith in India’s medium-term fundamentals despite persistent global uncertainties.According to the FICCI survey, industry also underscored the importance of fiscal prudence, with aroun…
New Delhi, Jan 1 (IANS) Despite the steep cut in GST rates, a growth of over 6 per cent in gross monthly collection in December is encouraging, industry experts said on Thursday.India’s GST (goods and services tax) collection recorded a 6.1 per cent increase to Rs 1,74,550 crore in December 2025 compared to Rs 1,64,556 crore the same month of the previous year, reflecting the increase in economic activity during the month.“If this momentum continues for the remaining months of this fiscal, t…
New Delhi, Dec 24 (IANS) Recent reforms under GST 2.0 show that simplification and tax moderation can coexist with strong revenue growth, a report said on Wednesday, calling for freezing peak tax rates and expanding tax base through technology.The white paper from Think Change Forum said that recent GST reforms proved wrong the long-held belief that higher tax rates are necessary to boost collections as gross GST collections rose 4.5 per cent (on-year) to Rs 1.95 lakh crore in October 2025.The r…