The Chhattisgarh SGST department has exposed a significant GST evasion scheme orchestrated by GST consultant Mohmmad Farhan Sorathia, involving over 170 fictitious firms. These firms generated fake registrations and e-way bills, causing substantial losses to the state treasury, estimated at…
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To simplify securities transfer to legal heirs, SEBI introduces the ‘TLH’ reporting code, effective January 1, 2026. This standard code ensures transmissions from nominee to legal heir are correctly reported to the CBDT and not incorrectly taxed as capital gains.…
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Union Finance Minister Nirmala Sitharaman announced that upcoming GST reforms, effective September 22, will inject ₹2 lakh crore into the economy, boosting domestic consumption. These reforms, simplifying the GST structure, aim to benefit the poor, middle class, and MSMEs, aligning…
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The rationalisation is expected to reduce the prices of a large number of products and services. Crisil observed that moving from four slabs to two could expand the formal tax net and support buoyancy in collections over the medium term.
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India’s net direct tax collection recorded 9.18 per cent growth to cross Rs 10.82 lakh crore till September 17 during the current financial year (2025-26) compared to the same period of the previous financial year as there was a sharp…
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RBI Governor Sanjay Malhotra urged CCIL to develop infrastructure for currency pairs beyond USD-INR, supporting rupee internationalization. He also emphasized enhancing retail investor offerings in forex and government securities, aiming for a seamless customer experience. Malhotra highlighted India’s pioneering role…
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