Union Finance Minister Nirmala Sitharaman will chair the 55th GST Council meeting in Jaisalmer, Rajasthan, on Saturday, December 21. This meeting will focus on several important discussions related to the Goods and Services Tax (GST) in India. The agenda includes deliberations on taxability issues concerning food delivery platforms such as Swiggy and Zomato, and potential changes to GST rates on products like health insurance premiums, life insurance, wristwatches, shoes, and apparel. The cou

India introduced the Goods and Services Tax (GST) in 2017 to simplify the tax structure and reduce the tax burden. Recent data shows that the gross GST collection for October 2024 rose by 9% to ₹1.87 lakh crore, a record second-highest figure. However, a recent proposal by the Group of Ministers (GoM) on GST Rates Rationalisation suggests a new 35% GST slab on products like aerated drinks and tobacco, which has raised concerns. The proposal aims to target 'sin' products such as thos

Bangladesh's interim government has accused Adani Power of breaching a multi-billion-dollar agreement related to the supply of electricity from its coal-fired plant in India. The dispute centers on Adani Power withholding tax benefits that the power plant was entitled to under the agreement. The Indian company signed a deal with Bangladesh in 2017 to supply power from the Godda plant, but Dhaka claims that Adani Power failed to pass on the tax exemptions it received from the Indian govern

US President Joe Biden announced on Sunday that he had granted a pardon to his son, Hunter Biden, who was convicted of making false statements on a gun background check and illegally possessing a firearm. Hunter Biden had also pled guilty to federal tax charges, admitting to failing to pay $1.4 million in taxes. President Biden expressed that his decision to pardon his son came after years of what he described as unfair, politically motivated prosecution. Biden stated that he had pr

The Finance Ministry is set to review the windfall tax on fuel exports, including petrol, diesel, and Aviation Turbine Fuel (ATF), following the stabilization of global crude oil prices. The tax, introduced in July 2022, was implemented to address the substantial profits earned by oil refiners exporting fuel, which had an impact on domestic supplies. The review will assess the tax’s effectiveness and the revenue it has generated, with the Ministry of Petroleum and Natural Gas already re

In a positive sign for the Indian economy, the Goods and Services Tax (GST) collections for September 2023 increased by 6.5% year-on-year, totaling ₹1.73 lakh crore. This marks a rise from ₹1.63 lakh crore collected in September of the previous year. The net GST collection after refunds stood at ₹1.53 lakh crore, showing a growth of 4% compared to ₹1.47 lakh crore in September 2022. So far this fiscal year, the government has recorded a gross GST revenue of ₹10.87 lakh cro

On Thursday, Pakistan's government announced that it would need to endure "transitional pain" following the International Monetary Fund's (IMF) approval of a new $7 billion relief package aimed at stabilizing its faltering economy. While the nation's economy has shown signs of stabilization since narrowly avoiding default last summer, it remains heavily reliant on IMF bailouts and support from friendly countries to manage its substantial debt, which consumes nearly half

A panel of state ministers, established by the Goods and Services Tax (GST) Council, is set to convene in Goa on September 24 and 25. This six-member group, led by Bihar Deputy Chief Minister Samrat Chaudhary, will review the implications of rate rationalization on at least 100 items. The discussions aim to analyze potential changes in GST slabs and rates, particularly focusing on essential goods. During the two-day meeting, the panel will explore various

In a generous show of support for those affected by recent floods in Andhra Pradesh and Telangana, Nandamuri Balakrishna has announced a significant donation of Rs. 50 lakhs each to the Chief Minister’s Relief Funds of both states. This contribution is part of a broader effort by various film celebrities to provide aid and relief during this critical time. Today, Balakrishna’s younger daughter, Nandamuri Tejaswini, met with Telangana Chief Minister Revanth Reddy to hand

In a significant gesture of support, Andhra Pradesh Deputy Chief Minister Pawan Kalyan recently met Telangana Chief Minister Revanth Reddy at his residence in Jubilee Hills, Hyderabad. The visit was marked by Pawan Kalyan presenting a cheque for ₹1 crore as a donation to the Chief Minister’s Relief Fund (CMRF), aimed at aiding flood victims in Telangana. During the meeting, Pawan Kalyan and Revanth Reddy engaged in discussions about various issues affecting the two Telugu st

In the face of severe flooding in Vijayawada, the Akshaya Patra Foundation has emerged as a beacon of hope, providing critical support to those affected by the disaster. Partnering with the Andhra Pradesh government, the foundation has been instrumental in preparing and distributing hygienic and sanitized food to the flood victims. Their efforts have ensured that over 10 lakh people have received much-needed nourishment during this challenging time. Feeding such a large number of pe

Andhra Pradesh has been grappling with its worst flooding in decades, with Vijayawada and surrounding areas suffering severe impacts from the Krishna River’s wrath. For the past week to 10 days, the state has faced extreme distress, prompting relentless efforts from both the government and private individuals to restore normalcy. Among the notable contributors is philanthropist and entrepreneur Ka

In recent days, Vijayawada in Andhra Pradesh has faced unprecedented flooding, resulting in extensive damage and leaving many residents stranded. Torrential rains led to the overflow of the Budameru rivulet, submerging low-lying areas and causing significant disruption to public life. The Andhra Pradesh government, under Chief Minister Chandrababu Naidu, swiftly initiated a comprehensive rescue operation to mitigate the damage and provide essential aid to affected residents. As rain

Chief Minister N. Chandrababu Naidu is earning widespread acclaim for his prompt and effective response to the recent floods in Andhra Pradesh. The state has been grappling with severe flooding due to relentless rains and significant inflow from upstream areas, leading to overflowing water bodies and breaches. In this challenging scenario, Naidu’s leadership and innovative approach to flood relief

In response to the devastating floods in Telangana, the Telangana Government Employees Joint Action Committee (JAC) has made a significant contribution to relief efforts. The JAC has announced that all categories of government employees, including ordinary employees, gazetted officers, teachers, workers, pensioners, and contract staff, will donate one day of their basic salary to the Chief Minister’s Relief Fund. This collective gesture is expected to contribute around Rs 100 crore to a

In times of natural calamities, there is often an expectation for leaders from all political parties to come together and assist in relief and rescue operations. The recent floods in Krishna and Guntur districts have prompted an active response from leaders of the ruling NDA government, including Chief Minister Chandrababu Naidu, who have been actively involved in supporting affected areas. However, a noticeable absence has been observed from leaders of the YSR Congress party, who were previo

Andhra Pradesh is grappling with severe flooding, particularly in the Vijayawada region, following excessive rainfall. The situation is dire, prompting Chief Minister Chandrababu Naidu to stay in Vijayawada and personally manage relief operations. Naidu’s presence on the ground underscores his commitment to addressing the crisis and supporting affected communities. In contrast, YS Jagan,

Chandrababu Naidu, the TDP supremo and Chief Minister of Andhra Pradesh, has once again demonstrated his crisis management prowess. While there may be criticisms regarding his party management, his responses to public crises are exemplary. Naidu’s dedication to alleviating public suffering is evident through his swift and effective actions during disasters, making him a standout leader in times of need. During the 2016 Hudhud cyclone that ravaged Vizag, Naidu's leadership

Koratala Siva, a renowned filmmaker in the Telugu film industry, recently drew attention with his remarks about taxpayer privileges during a podcast hosted by former IAS officer Jayaprakash Narayanan. Known for his successful directorial career, Siva shared a personal anecdote about an incident at the airport where he felt entitled to special treatment due to his high tax contributions. During the podcast, Siva recounted an experience where, due to a tight schedule,