The outlay for the Ministry of Tourism has seen a modest increase to Rs 2,430 crore in Budget 2025-2026, up from Rs 2,374 crore a year ago. Of the Rs 2,374 crore allocated in the 2024-2025 Budget ...

Revenue of the domestic aircraft maintenance, repair and overhaul (MRO) industry will surpass Rs 4,500 crore in fiscal 2026, ...

The Union Budget for FY25-26 is expected to prioritize fiscal prudence while addressing muted growth trends through targeted ...

Life insurance companies have opposed a proposal to exempt term insurance premiums from goods and services tax (GST), saying the move would block input tax credit (ITC) and result in higher costs ...

Input tax credit (ITC) helps reduce the tax outgo for the GST payer. A retrospective amendment, which comes into effect from July 1, 2017, debars entities, such as commercial real estate companies ...

India may soon mandate the invoice management system for large transactions to curb tax evasion and enhance GST compliance ... reduce fraudulent input tax credit claims, and improve accuracy ...

He had passed on a substantial amount of the fake input tax credit to his own units in Tamil Nadu. A press release from the Commissioner of GST and Central Excise, Milind R. Lanjewar, said a team ...

officials of the Visakhapatnam Zonal Unit have arrested a man based out of Tamil Nadu for allegedly generating fake invoices worth ₹230 crore and committing a Goods & Service Tax (GST) input tax ...

The federal government’s GST tax “holiday” has been in place for a month and businesses say they’ve seen mixed results when it comes to increases in sales. The “holiday” was announced ...

The GSTR-2B (input tax credit) statement will now be generated ... to be extended due to persistent technical issues with the GST portal.” ...

the GST portal will now generate GSTR-2B on January 16, 2025, instead of the usual January 14, 2025. Accepted invoices in IMS will flow into GSTR-2B, which helps determine input tax credit ...