Summary of The Finance Bill 2025 and Amendments to the CGST Act The Finance Bill 2025, submitted on 1 February, contains a number of changes to the Goods & Services Tax (GST) regime. These changes aim to simplify tax compliance, streamline tax treatment for specific transactions,
India 55th Goods & Services Tax Council Meeting Summary of Recommendations The 55th GST Council – which oversees operations and reforms of the indirect tax – convened in Jaisalmer, Rajasthan, on December 21, 2024, under the chairpersonship of Union Finance Minister Smt. Nirmala Sitharaman. The meeting
E-invoicing 30-day reporting threshold cut April 2025 India’s GST Council, which overseas the national e-invoicing regime, is cutting the threshold on the 30-day reporting requirement to its portal, the Invoice Registration Portal (IRP). From 1 April 2025, any business subject to Indian e-invoicing with a
Calls for major reforms: Rate rationalisation; dispute resolution; input tax credits India’s Goods and Services Tax is up for reform.GST was implemented in July 2017, and gave the country’s internal market a major boost be simplifying internal trade by removing complex and overlapping multitude of
Goods and Services Tax evasion balloons despite success of e-invoicing In the fiscal year 2023-24, Goods and Services Tax (GST) evasion in India escalated significantly, reaching a staggering ₹2.01 lakh crore, as per data released by the Directorate General of GST Intelligence (DGGI). This marks
Talks begin September on consolidating 12% & 5% Goods and Services Tax rates Following the ruling BJP party failing to secure a majority in this months national general election, India’s GST Committee is to revisit the consolidation of the country’s five rates to four (inc
1st Aug 2024: Budget removes contentious tax on non-resident providers of digital services The latest Indian budget has confirmed the scrapping of the 2% equalisation levy on digital companies, online education-providing firms, and software-as-a-service (SaaS) providers without a permanent physical presence in India. This is
India’s Union Budget includes Goods and Services Tax rate changes and simplifications India’s Finance Minister, Nirmala Sitharaman, published the 2024 – 25 budget on 25th July. Aside from a range of GST simplifications, it also included wider administrative changes for the Finance Bill 2024. India
AI adopted on more interpretative elements of GST law sparks huge uplift in Show-Cause Notices Indian Goods & Services Tax registered businesses from the shipping, gaming, insurance and airline sectors have been flagging to the Ministry of Finance a sudden rise in Show-Cause Notices (SCN).
1 October 2023 top rate GST for online gaming, casinos and horse racing The Indian GST Council, which oversees the national Goods and Services Tax, has subjected online gaming, casinos and horse racing to the top rate 28% GST from 1 October 2023. The previous
