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Tax Reform News - Latest Updates & Headlines

Bring structural changes in GST regime, says Punjab Finance Minister

New Delhi, July 4: Presenting an overview of the state's revenue, Punjab Finance Minister Harpal Singh Cheema on Friday emphasised on bringing structural changes in the Goods and Services Tax (GST) regime and proposed policy recommendations for revenue augmentation, including foodgrains under its framework.

LoP Gandhi slams GST, demands people-centric tax reforms

New Delhi, July 1: Leader of the Opposition (LoP) in the Lok Sabha, Rahul Gandhi on Tuesday launched a sharp attack on the Goods and Services Tax (GST) regime, describing it as a “tool of economic injustice" and demanded people-centric tax reforms.

GST enters 8th year after rollout with record collections, thumbs up from 85 pc taxpayers

New Delhi, June 30: The Goods and Services Tax (GST), widely hailed as one of the biggest economic reforms in post-Independence India, will on Tuesday complete eight years of its success story, with collections soaring to a record Rs 22.08 lakh crore in 2024-25, marking a year-on-year growth of 9.4 per cent, with the number of taxpayers in its ambit surging past 1.51 crore.

Govt extends CBDT chairman Ravi Agrawal's tenure by a year

New Delhi, June 28: The government has extended the tenure of Ravi Agrawal as the Chairman of the Central Board of Direct Taxes (CBDT) by another year. The CBDT is the apex policymaking body of the Income Tax Department, and its chairman and members are senior Indian Revenue Service officers.

8 years of GST: CBIC celebrates 'Sundays on Cycle'

New Delhi, May 18: In the run-up to the completion of eight years of GST, the Central Board of Indirect Taxes and Customs (CBIC), in coordination with the ‘Fit India Movement’, on Sunday organised a nationwide cyclothon titled “Sundays on Cycle”.

Minister urges young IRS officers to strive for Viksit Bharat goal

Palasamudram: , April 25 (IANS) Union Minister of State for Finance Pankaj Chaudhary on Friday exhorted the young officers passing out of the National Academy of Customs, Indirect Taxes, and Narcotics (NACIN) to lead with "courage and clarity" to fulfil their responsibility in building a transparent and accountable tax system.

Worst seems to be behind, Indian economy shows signs of recovery: BNP Paribas report

New Delhi, February 23: The challenging time which persisted due to the contraction of the economic growth seems to be over, as new orders, agriculture exports, rural wages, Index of Industrial Production (IIP), steel production, auto sales and tax collections have picked up after a weak third-quarter calendar year 2024 according to a report by BNP Paribas.

FM Sitharaman introduces new Income Tax Bill in Lok Sabha

New Delhi, Feb 13: Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill, 2025, in the Lok Sabha on Thursday as part of the tax reforms to streamline and simplify the provisions so that they are easier to understand and reduce the scope for legal disputes.