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GST ENFORCEMENT REFORMS
GST enforcement may shift from 'arrest' to 'detect, recover and prosecute serious frauds'The GST Council is likely to consider major enforcement reforms on October 7 that could remove GST officers’ power to directly arrest alleg...- GST Council may scrap arrest provisions, fast-track refunds with 90% automatic payoutThe upcoming 57th GST Council meeting on October 7 is set to unveil transformative proposals that could reshape GST regulations. Key sugges...
- GST 2.0: Council to consider sweeping reforms to unlock tax credit, ease complianceIndia is set to implement significant reforms to the goods and services tax system, which will ease compliance. Changes may include the rel...
- GST Council may clear sweeping compliance reforms; e-commerce sellers, genuine buyers to get reliefThe GST Council will assess various procedural reforms aimed at simplifying tax compliance for businesses. Proposed measures include enabli...
- GST 2.0's next move: Council may scrap officers' arrest powers, raise prosecution bar to Rs 5 croreThe GST Council is weighing changes to GST enforcement, including ending officials' arrest powers and shifting to court-ordered arrests. Cr...
- No more tax wishlists? FM Sitharaman asks experts to make the case for what should goFinance Minister Nirmala Sitharaman urged tax professionals and industry bodies to move beyond demands for exemptions and rate cuts, asking...
- India could reach $20 trillion by 2036 with 14.2% rupee growth: EquirusIndia could reach a $20 trillion economy by 2036 with reforms. This requires sustained rupee growth and appreciation, according to a resear...
- MSMED Bill promises faster payments, but TReDS hurdles and GST ambiguity may leave smaller firms behindThe Micro, Small and Medium Enterprises Development (Amendment) Bill was passed by Parliament last week, nearly two decades after the MSMED...
- Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FMIndia's economic landscape is on a promising trajectory, aiming to exceed five trillion dollars by the fiscal year twenty twenty-nine. To a...
- As GST turns 10, focus shifts to AI-led compliance, faster refunds, simpler tax processesIndia's Goods and Services Tax, now in its tenth year, is evolving towards greater efficiency. The government is leveraging AI, data sharin...
- Centre and states working on GST e-way bill revamp, official saysThe central government is working with states to improve the e-way bill system. This reform aims to make logistics smoother and reduce trad...
- Economic Survey calls for e-Way bill revamp in next phase of GST reformThe Economic Survey proposes reimagining the e-Way Bill system to facilitate logistics rather than solely for enforcement. Reforms could in...
- GST collection rises 8 pc to Rs 1.74 lakh cr in JunThe June 2024 GST collection reached Rs 1.74 lakh crore, marking an 8% increase from May 2024. EY India Tax Partner, Saurabh Agarwal, empha...
- Enhanced GST revenue collections should now be 'new normal': FM"Commendable work has been done in the year gone by both in the area of facilitation and enforcement with numerous cases of fraudulent deal...
- GST slabs may reduce to 3 in long-term: Sanjeev SanyalThe three slabs could be a low of 5 percent, a central 15 percent and a top rate of 25 percent.
- View: Moody's upgrade recognises India’s economic, structural reformsThe number and type of reforms and policy initiatives undertaken by the government in the last three and half years was unique and unparall...
- World Bank accepts many of Modi govt's reform claims, big thumbs-up likely next monthReforms like GST have not been taken into account as the impact is yet to be felt by users. But India is expecting these to reflect in next...
- View: How a single clause in GST shows the Indian state at its worstThe new law insists that all benefits be passed on to consumers. If govt determines that any company hasn’t done so, it can even force it t...
- Assam to secure favourable tax slab for tea under GSTIndia proposes to introduce the GST, which will subsume multiple levies into one tax, helping create an integrated home market in the $2-tr...
- GST key reform for creating single market in India: World BankGST is the most important reform towards creating a single market and if it is implemented by April, its impact will be visible by 2018, it...
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