CBDT has sought feedback from crypto stakeholders on India's tax regime, 1% TDS, and the need for a new VDA law. The move signals possible regulatory reforms as investors migrate offshore due to high taxes and uncertainty.
The Centre plans to shift most goods from the 12% to 5% GST slab, impacting items like food products, mobiles, and tractors. The move may cost Rs 80,000 crore in revenue, partly offset by retaining a 40% rate on sin and luxury goods.
The Online Gaming Bill 2025, tabled in Lok Sabha, proposes a ban on online money games while promoting e-sports, social and educational gaming. It also seeks to set up a national authority for regulation, innovation and player safety.
Smartphone makers, led by ICEA, have urged the government to cut GST on mobile phones from 18% to 5% to boost demand, reduce prices, and strengthen India’s manufacturing competitiveness.
CBIC has extended the due date for filing GSTR-3B of July 2025 till August 27, 2025 for taxpayers in Mumbai, Thane, Raigad, and Palghar districts. Know the details of GST compliance relief.
CBDT notifies new rules under Section 17 of the Income-tax Act, 1961. Salary income capped at Rs 4 lakh and gross total income at Rs 8 lakh for specified provisions.
The government is planning to slash GST on insurance premiums from 18% to 5% or even zero under its proposed GST 2.0 reforms, while restructuring slabs into 5%, 18%, and a 40% sin tax for luxury goods like tobacco and alcohol.
The Finance Ministry told Parliament there is no proposal to impose fees on UPI transactions, easing concerns after RBI Governor Sanjay Malhotra's comments sparked speculation about charges on UPI transactions.
CAG reports that the income tax department recovered Rs 3,588.79 crore after rectifying audit-flagged errors but left 59,352 cases unsettled, with pending tax effects of Rs 6,252.06 crore.
The commerce and industry ministry is drafting a 100-day reforms agenda that may include liberalising FDI rules, easing investments from neighbouring countries, tax benefits for startups, relaxed environmental norms
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