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ABHISHEK JAIN KPMG
GST collections rise 3.2% to ₹1.94 lakh crore in May; import-led revenues drive growthIndia's GST collections hit an impressive ₹1.94 lakh crore in May 2026, showcasing a 3.2% rise primarily driven by robust imports of essent...- GST collections up 10% to ₹ 1.75 lakh crore in AugustIndia's GST collections rose to ₹1.75 lakh crore in August, a 10% increase from last year, with experts anticipating a further spike during...
- Cos with multi-state presence will have to register as ISD with GST authorities by April 1, 2025By April 1, 2025, companies with multi-state branches must register as Input Service Distributors (ISD) under GST law to distribute input t...
- ESOPs exempt from GST, barring where foreign companies charge additional amountThe Central Board of Indirect Taxes and Customs (CBIC) clarified that multinational companies offering Employee Stock Purchase Plans (ESPPs...
- Take FPI custody services out of GST: Lenders to governmentThe issue cropped up during the GST audit of some foreign banks and lenders expect tax demands notices since 2017 when the new indirect tax...
- Government exempts IGST on ocean freight from October 1KPMG Indirect Tax Head & Partner Abhishek Jain said the amendments proposed are aligned with the apex court's ruling in the case of Mohit M...
- FinMin operationalises amnesty scheme for traders failing to meet export obligationThe finance ministry has operationalized the amnesty scheme for traders who defaulted in export obligation under the Advance and EPCG autho...
- CBIC waives penalty, interest fee on account of technical glitchThe Central Board of Indirect Taxes and Customs (CBIC) has decided to enable Electronic Cash Ledger (ECL) in phases for importers and expor...
- Input Tax Credit cannot be claimed on goods/services used for CSR activities: Budget 2023KPMG in India Partner, Indirect Tax, Abhishek Jain said the Finance Bill proposes to restrict input tax credit paid on goods and services u...
- 'Sops for RuPay, BHIM-UPI are subsidy, not taxable'The Central Board of Indirect Taxes and Customs (CBIC) Friday clarified that incentives paid by the Ministry of Electronics and Information...
- CBIC notifies the Customs Valuation Rules 2023, effective from February 11The Central Board of Indirect Taxes and Customs (CBIC) will come out with a list of 'identified goods', which will be subject to stricter s...
- Tax appellate tribunal asks CBIC to frame norms for tax recovery in insolvency casesKPMG Tax Partner Abhishek Jain said the insolvency and bankruptcy law in India overrides any other law and stipulates that recovery proceed...
- Slow GST portal: CBIC mulls extending Sept returns filing due date"Taxpayers have reported slowness in portal while filing GSTR 3B return today. The persistence of the issue is acknowledged. Technical team...
- FinMin makes unauthorised publication of export-import data compoundable offenceThe Central Board of Indirect Taxes and Customs (CBIC) on August 22 notified the amendments to the Customs (Compounding of Offences) Amendm...
- CBIC raises monetary thresholds for customs offencesThere will be no prosecution against foreigners and non-resident Indians (NRIs) on detection of non-declaration of foreign currency, if it ...
- Finance Ministry seeks industry views on changes in monthly GST payment formThe paper takes into consideration various suggestions of both taxpayers and administrators, including auto-population and amendment in GST...
- No excise duty on ATF used in Indian carriers' international flightsConfusion arose on the leviability of the excise duty on domestic airlines for their foreign flights after the government on July 1 slapped...
- GST registration exemption for online seller with low turnover to boost e-commerceNow such suppliers will not have to obtain GST registration, if their turnover is lower than Rs 40 lakh and Rs 20 lakh for goods and servic...
- Govt extends deadlines for furnishing annual GST returnsA notification to the effect will be issued subsequently, the government has said.
- FlexiLoans banks on some heavy hittersSanjay Nayar, Vikram Sud, Anil Jaggia, Narayan Seshadri and others infuse Rs 100 crore in FlexiLoans; investments to be in their personal c...
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