GSTN simplifies refund claims under the ASSORD category, allowing taxpayers to claim refunds on negative minor head balances even when the overall demand is zero or positive, with auto-populated fields and guided tooltips for ease.
GoM on Life and Health Insurance, chaired by Bihar Deputy CM Samrat Choudhary, has reached an in-principle agreement to reduce GST on individual insurance policies, with states stressing transparency to ensure benefits reach policyholders.
The GCCI has urged FM Sitharaman to simplify GST by merging slabs, correcting inverted duty structures, reducing rates on essentials, and publishing sector-specific guidance notes to ease compliance and boost tax transparency.
CBDT is drafting simplified rules and forms under the Income Tax Act, 2025, set to apply from April 1, 2026. A new SOP for digital data handling during surveys and searches will also be released, alongside the introduction of the 'tax year' concept.
ICAI has published the 2025 edition of its Handbook on Exempted Supplies under GST, covering latest amendments till April 15, 2025.
Food Ministry backs edible oil industry's demand to lift GST refund restrictions. GST Council may discuss the issue in its next meeting.
CBDT Member R.N. Parbat says digital search and seizure under Income Tax Act 2025 is vital to trace hidden income and assets online.
High GST is hurting multiplex recovery. Exhibitors propose 5% GST on tickets under Rs 300 to drive affordability and cinema screen expansion.
Amid concerns over slowing wage growth, the Finance Ministry plans regular meetings with MSMEs and industry leaders to help firms scale, boost hiring and support consumption.
The Karnataka Commercial Taxes Department has arrested Bidar resident Rahul Kishan Rao Kulkarni in Hyderabad for creating fake GST registrations and issuing bogus invoices worth crores to facilitate fraudulent ITC claims.
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