Creative Bharat
The Indian electric vehicle (EV) sector, particularly the small car and hatchback segment, may soon face a speed bump. The proposed goods and services tax (GST) recast could boost the small passenger car market. Small cars are likely to be placed in the 18% tax slab, substantially reducing the tax burden on them, as per […]
New Delhi: The GST Council will meet in Delhi on September 3-4 to decide on the Centre’s proposal for a simplified two-slab structure of 5% and 18%, along with a special 40% levy for sin goods. The apex decision-making body for the indirect tax, comprising central and state ministers, will also consider exempting life insurance […]
The goods and services tax council, chaired by Nirmala Sitharaman, will meet on September 3-4 to discuss sweeping tax cuts. The panel, that also has representatives from the country’s states, will consider reforming the indirect tax system with just two major tax rates after Prime Minister Narendra Modi on August 15 announced the government will […]
The current Goods and Services Tax framework consists of four tiers: 5, 12, 18 and 28 per cent. (AI image) GST rate cuts coming soon! The Goods and Services Tax (GST) Council will meet for a two-day session starting September 3, as per the notice issued. The meeting comes within days of PM Narendra Modi […]
Some experts warned that structural problems could blunt the benefits of rationalisation Tax experts have broadly welcomed the Centre’s proposal for a two-tier GST rate structure, saying it will simplify the system and boost consumption while cautioning that critical issues such as inverted duty structure need to be addressed for the reform to be fully […]
Air India and Air India Express together posted a loss before tax of ₹9,568.4 crore in the financial year ended March 2025, according to the civil aviation ministry. In the last fiscal, Akasa Air and SpiceJet recorded a loss before tax of ₹1,983.4 crore and ₹58.1 crore, while IndiGo reported a profit before tax of […]
Indian Prime Minister Narendra Modi’s surprise move to lower consumption taxes within three months is set to spark tough negotiations with states, who will have to shoulder the bulk of the revenue losses. Modi proposed a major rejig of the complex goods and services tax last week, a move many businesses had been pushing for […]
ITR filing: Taxpayers who miss the regular deadline for filing their income tax return get an additional chance through the updated income tax return (ITR-U) facility, introduced under Section 139(8A) of the Income Tax Act. This option allows individuals to correct errors, add omitted income, or rectify misreporting even after the due dates for belated […]
Today, EZTax, India’s top tax filing portal, unveiled a new edition of its self-service (DIY) Income Tax e-Filing portal with significant artificial intelligence (AI) upgrades to save on taxes, reduce errors, and reduce e-filing time by 30%. With EZTax’s extensive experience in tax filing services for Income Tax, GST, and TDS, it observes a […]
In its latest appeal, ICEA called mobile phones and their components’ categorisation under the 18 per cent GST slab “regressive | Photo Credit: mihailomilovanovic India’s telecom stakeholders are demanding that the government slash GST rates on mobile phones from 18 to 5 per cent, contending that phones have now become essential infrastructure rather than luxury […]
