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.
Maha govt tables bill to amend GST Act to provide transparent services to taxpayers
Mumbai, July 3: Deputy Chief Minister and Finance Minister Ajit Pawar on Thursday tabled the Maharashtra Goods and Services Tax (Amendment) Bill, 2025 in the Assembly to amend the Maharashtra Goods and Services Tax Act, 2017 with a total of 13 amendments.
India's tax reforms, digital push have increased revenue, cut compliance costs: FM Sitharaman
New Delhi, July 1: Union Finance and Corporate Minister Nirmala Sitharaman on Tuesday said that India's tax reforms and digital transformation in tax administration have increased revenue and reduced compliance costs.
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.
Landmark reform that reshaped India's economic landscape: PM Modi on 8 years of GST
New Delhi, July 1: As the Goods and Services Tax (GST) completed eight years today, Prime Minister Narendra Modi on Tuesday said that the landmark reform has reshaped India's economic landscape by "greatly improving" the Ease of Doing Business, and fostering "true cooperative federalism" in the country.
GST collections rise 6.2 pc to touch Rs 1.85 lakh crore in June
New Delhi, July 1: : India’s Goods and Services Tax (GST) collection rose to Rs 1.85 lakh crore during June this year, marking a 6.2 per cent increase compared to the same month of the previous year, according to official data released on Tuesday.
GST has reshaped India's economic landscape, says PM Modi
New Delhi, July 1: Prime Minister Narendra Modi on Tuesday said that eight years have passed since GST was introduced, and it stands out as a landmark reform that has reshaped India’s economic landscape.
GST enhanced taxpayer base, Ease of Doing Business in India: Economist
New Delhi, July 1: The Goods and Services Tax (GST) has been one of the most significant reforms undertaken in India over the past decade, Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings, said on Tuesday.
GST collections hit record high in 2024-25; 85% of businesses happy with system
New Delhi, June 30: India's Goods and Services Tax (GST) system has achieved a major milestone in 2024-25, with a record gross collection of ₹22.08 lakh crore, showing a 9.4 per cent growth over the previous year.
India's GST collection hits record Rs 22.08 lakh crore in FY25, rises 9.4 pc
New Delhi, June 30: India's Goods and Services Tax (GST) collection for the financial year 2024–25 touched a record high of Rs 22.08 lakh crore, marking a 9.4 per cent increase compared with the previous year, the government announced on Monday.
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.
'Our govt has focused on tax reforms, decriminalisation of laws, ease of doing business': PM Modi at India-Cyprus CEO Forum
Limassol, June 16: Highlighting India's rapid economic growth and vast potential at the India-Cyprus CEO Forum, Prime Minister Narendra Modi has said that India has become the fifth-largest economy in the world today and is now on the path to becoming the third largest global economy soon.
'Our govt has focused on tax reforms, decriminalisation of laws, ease of doing business': PM Modi at India-Cyprus CEO Forum
Limassol: , June 16: Highlighting India's rapid economic growth and vast potential at the India-Cyprus CEO Forum, Prime Minister Narendra Modi has said that India has become the fifth-largest economy in the world today and is now on the path to becoming the third largest global economy soon.
GST Council's next meeting likely to discuss rate rationalisation, compensation cess
New Delhi, May 24: With a focus on simplifying the indirect tax regime and addressing anomalies in the existing Goods and Services Tax (GST) rate structure, the GST Council is likely to take up rate rationalisation and the future of compensation cess in its next meeting.
CBIC celebrates 'Sundays on Cycle' - a fitness and GST awareness initiative in run-up to completion of 8 years of GST
New Delhi, May 18: In the run-up to completion of eight years of GST, the Central Board of Indirect Taxes and Customs (CBIC), in coordination with the FIT INDIA Movement, organised a nationwide cyclothon titled "Sundays on Cycle" under the aegis of FIT INDIA movement launched by the Prime Minister, Narendra Modi.
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.
Greek PM eyes third term, dismisses early elections talk
Athens, April 24: Greek Prime Minister Kyriakos Mitsotakis has reaffirmed his intention to seek a third term in office, contingent on securing continued public support.
Parliamentary panel Bill seeks expert suggestions on Income-Tax Bill 2025
New Delhi, April 18: The Select Committee of the Lok Sabha, which is reviewing the Income-Tax Bill, 2025, on Thursday called for suggestions and views from experts, industry associations, organisations, and other stakeholders on the proposed legislation, as per an official release.
Budget aims to do reforms to build Viksit Bharat by 2047, says FM Niramala Sitharaman
New Delhi, March 25: Finance Minister Nirmala Sitharaman, on Tuesday, underscored the Union government's commitment to providing tax certainty and streamlining business regulations as part of the broader vision to build a Viksit Bharat by 2047.
New Income Tax Bill to be taken up for discussion in monsoon session: FM Sitharaman
New Delhi, March 25: Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday said that the new Income Tax Bill will be taken up for discussion in the monsoon session of Parliament.
New Income Tax Bill to be introduced in monsoon session: FM Sitharaman
New Delhi, March 25: The new Income Tax Bill will be taken up for discussion in the Monsoon session of Parliament, Finance Minister Nirmala Sitharaman told the Lok Sabha on Tuesday.
FM says GST rates to be reduced further, rationalised; Congress demands overhaul
New Delhi, March 9: Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.
Claims that new powers being introduced in new income tax bill incorrect: Sources
New Delhi, March 9: Sources in the Central Board of Direct Taxes (CBDT) have sought to clear the air after some concerns were raised that Income Tax authorities have been given additional powers in the Income Tax Bill 2025 to gain overriding access to the electronic records including email, social media, and virtual digital space.
GST rates to be reduced further, rationalisation on the cards: FM Sitharaman
New Delhi, March 9: Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.
Will keep check on people's business: BJP's CT Ravi on Income Tax Bill 2025
Bengaluru, March 6: BJP leader CT Ravi said on Thursday said that the Income Tax Bill 2025 will keep a check on the businesses of the people and said only people who do not pay taxes need to be scared.
Meeting of Select Committee of Lok Sabha to examine new Income Tax Bill underway in Parliament
New Delhi, March 6: A meeting of the Select Committee of the Lok Sabha, under the chairmanship of Bharatiya Janata Party MP Baijayant Panda, to examine the Income-Tax Bill 2025 is underway at the Parliament House Annexe in New Delhi.
Lok Sabha Select Committee to examine Income-Tax Bill on March 6-7
New Delhi, March 4: The Select Committee of the Lok Sabha, under the chairmanship of Bharatiya Janata Party MP Baijayant Panda, will examine the Income-Tax Bill 2025 on March 6 and 7.
MP Baijayant Panda to chair Select Committee on Income-Tax Bill on March 6-7
New Delhi, February 27: The Select Committee of the Lok Sabha under the chairmanship of BJP Vice President and Lok Sabha MP Baijayant Panda will examine the Income-Tax Bill 2025 on March 6 and 7, 2025.
25 cr poor people have been lifted out of poverty in last 10 years: BJP MP Anurag Thakur calls budget roadmap for development
Jammu, February 24: BJP MP Anurag Thakur on Monday praised the Union Budget 2025-26, calling it a "roadmap for development" that will help realise Prime Minister Narendra Modi's vision of a 'Viksit Bharat' by 2047.
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.
Govt received over 60,000 inputs from citizens towards new Income Tax Bill: FM
Mumbai, Feb 17: The government received more than 60,000 inputs from the citizens towards the making of the new Income Tax Bill, 2025, Union Finance Minister Nirmala Sitharaman said on Monday.
India's Income Tax reforms to foster more transparent, taxpayer-friendly environment: Experts
New Delhi, Feb 13: The new Income Tax Bill 2025, scheduled to take effect on April 1, 2026, is set to foster a more transparent and taxpayer-friendly environment, representing a historic milestone in India's tax landscape, industry experts said on Thursday.
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.
New bill will make lives of India's taxpayers much easier: BJP MP Tejasvi Surya
Bengaluru, February 13: Bharatiya Janata Party (BJP) Lok Sabha MP Tejasvi Surya on Thursday praised the new Income Tax Bill, stating that the legislation will make the lives of India's taxpayers much easier.
Explained: Why Income-Tax Bill 2025 is a much-needed reform
New Delhi, Feb 12: As India moves closer to a major tax overhaul, the new Income-Tax Bill 2025 seeks to simplify the tax structure and to make it more transparent, efficient, and business-friendly.
Modi govt's policies uplifted economic standards, strengthened public trust: Sonowal
Agartala, Feb 12: Union Minister for Ports, Shipping, and Waterways, Sarbananda Sonowal, on Wednesday, said that the policies and programs implemented under the leadership of Prime Minister Narendra Modi have significantly improved the socio-economic conditions of the people, further strengthening their trust in the government.
New Income Tax bill likely to be introduced in Lok Sabha on Thursday
New Delhi, February 11: The new Income Tax Bill will be introduced in the Lok Sabha on Thursday, sources said.
Average tax under GST dips from 15.8 % to 11.3 %: Nirmala Sitharaman in Rajya Sabha
New Delhi, February 11: Finance Minister Nirmala Sitharaman on Tuesday informed the Rajya Sabha that indirect tax under the Goods and Services Tax (GST) has significantly reduced over the years since its implementation.