- 27 Aug 2025 05:13 PM
- New
Food Ministry forwards veg oil GST refund request to Finance Ministry
New Delhi, Aug 26 (PTI) The food ministry has forwarded the vegetable oil industry's request to the finance ministry, seeking to lift tax refund restrictions with hopes that the GST Council will consider the issue at its next meeting, Food Secretary Sanjeev Chopra said on Tuesday.
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- 27 Aug 2025 05:41 PM
- New
Flipkart under preliminary tax probe for allegedly recasting marketplace fees as transport charges
Source: https://www.livemint.com/companies/flipkart-gst-probe-billing-practices-11756188756423.html
Flipkart is under preliminary investigation over allegations that the Walmart-owned online marketplace altered its billing structure in a way that could reduce its goods and services tax liability, two tax investigators said.
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- 27 Aug 2025 05:28 PM
- New
GST reforms: ‘State revenue should be protected, or welfare schemes will be affected’, says Kerala finance minister
Kerala Finance Minister KN Balagopal today said that the Centre's GST reforms, should consider impact on state revenues as this could effect welfare schemes.
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- 27 Aug 2025 05:59 PM
GST Revenue And Compliance In Recycling Sector
Source: https://taxguru.in/goods-and-service-tax/gst-revenue-and-compliance-in-recycling-sector.html
In response to a Rajya Sabha question on GST revenue and compliance in the recycling sector, the Ministry of Finance provided data on entities registered under GST for dismantling, recycling, shredding, or refurbishing of electrical, electronic, and battery waste. According to the official reply dated 19 August 2025, the number of registered entities under HSN code 8549 (electrical and electronic waste and scrap) has increased substantially over the past five years, from 396 in 2020–21 to 10,198 in 2024–25. Correspondingly, GST collections from this segment also rose, though not in a linear pattern: ₹0.32 crore in 2020–21, ₹4.61 crore in 2021–22, ₹43.48 crore in 2022–23, peaking at ₹132.24 crore in 2023–24, and slightly declining to ₹117.35 crore in 2024–25.
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- 27 Aug 2025 06:07 PM
GST Collection from Different Income Groups in India
Source: https://taxguru.in/goods-and-service-tax/gst-collection-income-groups-india.html
The Indian government’s Ministry of Finance addressed a question regarding Goods and Services Tax (GST) contributions from different income groups. The ministry clarified that it does not maintain income group-wise GST collection data. As a consumption tax, GST is an indirect tax collected by suppliers of goods and services from their customers, regardless of income. The government’s policy aims to mitigate the tax burden on everyday necessities for the general population. To achieve this, essential goods like unpackaged food grains, fruits, and vegetables, along with services such as education and health, are exempt from GST. Additionally, products like edible oils, life-saving medicines, and fertilizers are taxed at a lower rate of 5%. This policy structure is intended to ensure that the tax incidence remains low on items of mass consumption, making the GST system less regressive.
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- 27 Aug 2025 05:32 PM
Consumer companies prepare for festive season amid GST concerns
While footfalls and retail activity have picked up since mid-August, many consumers are holding off purchases in anticipation of lower tax rates.
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- 27 Aug 2025 05:37 PM
Stock market crash: Can Nifty 50 touch 24,000 amid renewed fear of Trump's tariffs on India?
In the absence of a deal, market sentiment has turned cautious. Global pressures, including a weaker rupee and the potential for rising crude oil prices, are weighing particularly on export-dependent sectors.
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- 27 Aug 2025 05:54 PM
GST Burden on Consumers: Income-Wise Data Not Maintained
Source: https://taxguru.in/goods-and-service-tax/gst-burden-consumers-income-wise-data-maintained.html
The Indian Ministry of Finance, in a Rajya Sabha unstarred question, addressed the claim that the bottom 50% of consumers bear the same Goods and Services Tax (GST) burden as the middle 30%. The Ministry stated that it does not maintain income group-wise GST collection data, making it impossible to confirm or deny the claim directly. The response clarified that GST is a consumption tax, collected by suppliers from consumers. To mitigate the tax impact on essential items, the government has exempted goods and services of mass consumption, such as unpackaged food grains, fruits and vegetables, education, and healthcare. Additionally, items like edible oil, life-saving medicines, and fertilizers are taxed at a reduced rate of 5%. This tiered system is intended to lower the tax incidence on everyday necessities.
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- 25 Aug 2025 06:29 PM
Indian Medical Association supports governments GST relief on essential medicines
The Indian Medical Association (IMA) has welcomed the Goods and Services Tax (GST) Council's decision to reduce GST on several cancer-related and other essential medicines, calling it an essential move to make healthcare more affordable for millions of patients across India. The association expressed its gratitude to the Council and the Government of India in a press release.
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- 25 Aug 2025 06:18 PM
Stocks to buy for short term: From Concor to Cipla— Jigar Patel of Anand Rathi recommends 3 shares
Stocks to buy for the short term: The Nifty 50 index gained for the second week due to GST reform optimism and an S&P credit rating upgrade. Jigar Patel recommends buying three shares, including Concor and Cipla, for short-term gains, with specific target prices and stop-loss levels provided.
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