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    Canada will impose retaliatory tariffs on US goods beginning Sept 8 as trade negotiations collapse
    Trade war between Canada, US deepens rupture in what had been close and durable alliance
    Canada will impose retaliatory tariffs on US good beginning Sept 8
    J-K parties oppose hike in power tarrif
    IAS officer Gangwar not ‘missing’, away in UP over father’s health: Karnataka minister
    J-K Dy CM terms ED case against his brother 'selective targeting'
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    DFS Concludes Two-Day Workshop on Enhancing Accessibility of Financial Services for Divyangjans
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    US is set to impose 50% tariffs on $20 billion worth of Canadian products
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    August 22, 2026
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    Retaliatory tariffs escalate trade restrictions as historic tariff authority enables duties without prior investigation or a prescribed duration.
    Retaliatory tariffs are set to escalate bilateral trade restrictions after the United States imposed tariffs of up to 50 per cent on specified Canadian imports. Canada proposes dollar-for-dollar countermeasures covering sectors including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. Section 338 of the Tariff Act of 1930 is invoked as the legal basis for the United States measures, permitting presidential import duties up to 50 per cent without a prior investigation or prescribed maximum duration. Escalation creates uncertainty for supply chains and renewal of the United States-Mexico-Canada Agreement.
    August 22, 2026
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    Reciprocal tariffs reshape Canada-United States trade relations, increasing supply-chain risks and accelerating Canadian trade diversification beyond its primary export market.
    Canada-United States trade relations are described as entering a confrontational phase after tariff negotiations collapsed. The United States imposed tariffs on specified Canadian goods, while Canada committed to reciprocal import taxes and suspended negotiations. The dispute marks a retreat from preferential market access and continental integration. Canada's export dependence on the United States may limit retaliation and increase risks to output, employment, investment and integrated supply chains. Trade diversification, non-United States investment and expanded Pacific export infrastructure are identified as responses to a potentially enduring protectionist bilateral relationship.
    August 22, 2026
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    Retaliatory tariffs on United States goods will target key sectors after trade negotiations failed and reciprocal tariff relief was unavailable.
    Retaliatory tariffs on United States goods will take effect from 8 September in response to United States tariffs on Canadian products and unsuccessful negotiations. The dollar-for-dollar measures will cover steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, with product-specific details to follow. Canada had been willing to remove certain retaliatory tariffs if corresponding United States tariffs were substantially reduced, but considered the final demands unacceptable.
    August 22, 2026
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    Power tariff revision faces political opposition over increased consumer electricity costs and conflict with prior free-electricity commitments.
    Power tariff regulation in Jammu and Kashmir and Ladakh has been revised through approval of an average tariff increase, effective from 1 September 2026. Political representatives have opposed the increase on the ground that it adds to consumer hardship amid unemployment, inflation, and sectoral difficulties. The criticism also contrasts the revised tariff with prior commitments concerning free domestic electricity and gas.
    August 22, 2026
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    Recruitment examination integrity prompted enforcement scrutiny and proposed disciplinary inquiry, while an officer's absence was attributed to family emergency.
    Reported absence of an IAS officer was attributed to a family medical emergency and a pending leave request, rather than enforcement searches concerning an alleged recruitment-examination scam. The officer denied any connection with those searches and expressed willingness to face an inquiry. Enforcement searches at the Karnataka Public Service Commission concerned a money-laundering investigation into alleged recruitment irregularities. The State Cabinet decided to advise suspension of the commission chairperson and initiation of an inquiry after an earlier suspension was set aside for lacking the Cabinet's aid and advice.
    August 22, 2026
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    Money-laundering and benami asset allegations prompt enforcement proceedings, while the accused officer's brother calls the action selective targeting.
    Enforcement proceedings under the Prevention of Money Laundering Act concern allegations that suspended police officer Vijay Choudhary managed numerous assets through benami transactions and engaged in money laundering. An Anti-Corruption Bureau FIR had already been registered in relation to the allegations. Surinder Choudhary characterised the action as selective targeting but maintained that investigating agencies and the judiciary should address and decide matters concerning his family.
    August 22, 2026
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    Specialised dispute resolution requires technical expertise, timely proceedings, mediation support, and human oversight to safeguard natural justice.
    Specialised, timely and effective dispute-resolution mechanisms are necessary for technically complex disputes in telecom, broadcasting, airport tariffs and cyber sectors. Technology may assist legal reasoning but cannot replace judicial reasoning, requiring verification, professional responsibility and meaningful human oversight. Effective specialised adjudication should combine domain expertise with judicial discipline, respond to technical complexity, and protect natural justice, transparency and reasoned decision-making. Mediation and other consensual mechanisms can support dispute resolution.
    August 22, 2026
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    Form 15CB certification faces scrutiny where inadequate verification allegedly enables foreign remittances through shell companies and false certificates.
    Alleged misuse of Form 15CB certification has resulted in criminal proceedings concerning certificates issued for foreign remittances without verification of underlying documents. Form 15CB requires certification of applicable taxability and tax-deduction particulars for specified remittances to non-residents before processing by an authorised dealer. The allegations concern certificates that potentially enabled cross-border transfers through shell or non-existent companies, involving cheating, false certification, false evidence and common intention.
    August 22, 2026
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    Beginner stock market investing requires regulated accounts, risk-aware financial planning, diversification and informed company assessment before purchasing securities.
    Beginner stock market investing requires a bank account, a trading or broking account with a SEBI-registered broker, and a Demat account for electronic holding of securities. Investments involve risk of loss and should align with financial goals, time horizon and loss-bearing capacity. Investors should understand primary and secondary markets, distinguish long-term investing from short-term trading, assess companies before purchase, diversify holdings, consider charges, maintain records and avoid borrowed-money investing, rumours and momentum-driven decisions.
    August 22, 2026
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    Capacity-based tobacco taxation targets undeclared packing machinery used for clandestine production and clearance without indirect tax payment.
    Clandestine manufacture and clearance of pan masala, scented jarda and tobacco products without registration or payment of GST, HSNS Cess and central excise duty was detected through an intelligence-led search. Undeclared Form-Fill-Seal packing machines, workers, finished goods, raw materials, transport vehicles, packing materials and records indicated unaccounted production and clearance. Capacity-based monthly HSNS Cess for pan masala is computed according to the number, type and capacity of installed packing machines, while a corresponding capacity-based central excise levy applies to chewing tobacco, jarda and gutkha.
    August 22, 2026
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    Trade exhibition connects Korean exporters with Indian buyers through sector-specific consultations and certification guidance for market entry.
    KoINDEX 2026 is a business-to-business trade exhibition bringing Korean manufacturers and exporters together with buyers in India and South Asia. It focuses on beauty and personal-care products, processed and functional foods, and construction, building and safety products. Commercial engagement includes pre-matched export consultations with project owners, contractors, distributors, wholesalers, e-commerce platforms and food distribution businesses. A seminar addresses Bureau of Indian Standards certification and market-entry requirements for Korean products entering the Indian market.
    August 22, 2026
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    Independent PMLA proceedings require separate anticipatory bail assessment; predicate-offence protection alone cannot establish pre-arrest protection.
    Protection in a predicate-offence FIR does not automatically extend to independent PMLA proceedings. Anticipatory bail in a money-laundering investigation must be assessed under the applicable PMLA condition and on the material connecting the applicant to alleged proceeds of crime. Relevant considerations include the financial trail, recorded statements, bank-account analysis, compliance with summonses, cooperation with inquiry, and the need for personal participation in evidence collection and confrontation with documentary and digital material.
    August 22, 2026
    Show AI Summary
    Financial accessibility for Divyangjans requires compliance standards, practical implementation measures and stronger institutional capacity across financial services.
    Accessibility of financial services for Divyangjans was examined through a workshop focused on public sector banks, insurance companies, regulators and public financial institutions. Discussions covered accessibility standards, compliance requirements, legal provisions, practical implementation challenges and institutional best practices under the Sugamya Bharat initiative. Participants considered operational measures to strengthen institutional capacity, inclusivity and equitable access to financial services.
    August 22, 2026
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    Audit quality enhancement for small and medium auditors emphasises technology, global standards, inspection insights and stronger financial reporting.
    Audit quality and financial reporting reliability were the focus of NFRA's outreach programme for small and medium audit firms. The programme promoted professional capacity-building, alignment with contemporary global standards, adoption of appropriate audit technology, and the public-interest role of the accountancy profession. Technical sessions covered audit strategy documentation, risks of material misstatement, and practical lessons from audit-firm oversight to support improved day-to-day audit practice and high-quality financial reporting.
    August 22, 2026
    Show AI Summary
    Cartelisation by agro-input dealer associations attracted monetary sanctions, cease-and-desist directions, and mandatory competition-compliance training for responsible officials.
    Cartelisation by the two agro-input dealer associations and named individuals contravened Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002. Monetary sanctions were imposed, and association office-bearers were held liable under Section 48. The parties and liable officials were directed to cease and desist from future anti-competitive conduct and to organise competition-compliance training to promote awareness and compliance within the associations.
    August 22, 2026
    Show AI Summary
    Circular economy partnerships promote resilient value chains, resource efficiency and sustainable growth alongside evolving India-EU trade integration.
    India-Finland circular economy cooperation is being developed through business, technology, investment and commercial partnerships supporting resource-efficient and sustainable growth. Discussions focused on competitive and resilient value chains based on circularity, traceability, resource efficiency and sustainable business practices. Circular economy principles extend beyond waste management into product design, value chains, resource use, skills development and new business models. The India-EU free trade agreement remains subject to legal review and formal ratification and is not yet in force.
    August 22, 2026
    Show AI Summary
    Bid rigging through pre-bid exchange of sensitive price information attracted penalties and cease-and-desist directions in tyre procurement.
    Bid rigging in tyre procurement was established where Rekha Agencies and SS Marketing exchanged commercially sensitive price-bid information before submitting bids for the Himachal Pradesh Tender 2013. The concerted conduct contravened the prohibition on anti-competitive agreements and bid rigging. Monetary penalties and cease-and-desist directions were imposed on both enterprises. An official of Rekha Agencies was also penalised for liability arising from the contravention, while proceedings against the official of SS Marketing stood abated following his death.
    August 22, 2026
    Show AI Summary
    Import tariffs on Canadian products trigger potential retaliatory levies after bilateral negotiations fail to reach agreement.
    Import tariffs on Canadian products are set to be imposed by the United States at a 50% rate after bilateral negotiations did not produce an agreement. The measures cover products including hockey sticks and tongue depressors and affect a limited share of Canada's annual exports to the United States. Canada has indicated possible retaliatory levies, intensifying the bilateral trade dispute.
    August 21, 2026
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    Rupee exchange-rate movement reflected geopolitical tensions, crude oil conditions and market intervention, while export payment rules expanded rupee invoicing.
    Foreign Trade Policy amendments facilitate export invoicing and receipt of payments in Indian rupees. For exports to countries outside the Asian Clearing Union, export contracts and invoices may be denominated in Indian rupees or any foreign currency. The earlier general requirement that export earnings be received in a freely convertible currency is thereby eased, while applicable rules continue to vary according to destination.
    August 21, 2026
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    Non-controlling land-bordering country ownership permits eligible foreign investment through the automatic route, subject to sectoral conditions and reporting.
    Foreign direct investment may use the automatic route where non-controlling beneficial ownership from a land-bordering country in the investor entity does not exceed 10%, subject to sectoral caps, entry routes and other applicable conditions. The beneficial ownership test applies at the investor-entity level. Eligible investors need not obtain separate prior Government approval after reporting relevant information to the Government. The framework replaces the earlier approval requirement applicable even to minimal beneficial ownership from land-bordering countries.

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      Second highest monthly Gross GST Revenue collection in March at ₹1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis)

      April 1, 2024

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      Yearly gross revenue ₹20.14 lakh crore; 11.7% growth (13.4% on net basis)

      Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at ₹1.78 lakh crore, with a 11.5% year-on-year growth. This surge was driven by a significant rise in GST collection from domestic transactions at 17.6%. GST revenue net of refunds for March 2024 is ₹1.65 lakh crore which is growth of 18.4% over same period last year.

      Strong Consistent Performance in FY 2023-24: FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.14 lakh crore exceeding ₹20 lakh crore, a 11.7% increase compared to the previous year. The average monthly collection for this fiscal year stands at ₹1.68 lakh crore, surpassing the previous year’s average of ₹1.5 lakh crore. GST revenue net of refunds as of March 2024 for the current fiscal year is ₹18.01 lakh crore which is a growth of 13.4% over same period last year.

      Positive Performance Across Components:

      Breakdown of March 2024 Collections:

      • Central Goods and Services Tax (CGST): ₹34,532 crore;
      • State Goods and Services Tax (SGST): ₹43,746 crore;
      • Integrated Goods and Services Tax (IGST): ₹87,947 crore, including ₹40,322 crore collected on imported goods;
      • Cess: ₹12,259 crore, including ₹996 crore collected on imported goods.

      Similar positive trends are observed in the entire FY 2023-24 collections:

      • Central Goods and Services Tax (CGST): ₹3,75,710 crore;
      • State Goods and Services Tax (SGST): ₹4,71,195 crore;
      • Integrated Goods and Services Tax (IGST): ₹10,26,790 crore, including ₹4,83,086 crore collected on imported goods;
      • Cess: ₹1,44,554 crore, including ₹11,915 crore collected on imported goods.

      Inter-Governmental Settlement: In the month of March, 2024, the Central Government settled ₹43,264 crore to CGST and ₹37,704 crore to SGST from the IGST collected. This translates to a total revenue of ₹77,796 crore for CGST and ₹81,450 crore for SGST for March, 2024 after regular settlement. For the FY 2023-24, the central government settled ₹4,87,039 crore to CGST and ₹4,12,028 crore to SGST from the IGST collected.

      The chart below shows trends in monthly gross GST revenues during the current year. Table-1 shows the state-wise figures of GST collected in each State during the month of March, 2024 as compared to March, 2023. Table-2 shows the state-wise figures of post settlement GST revenue of each State till the month of March, 2024.

      Chart: Trends in GST Collection

      Table 1: State-wise growth of GST Revenues during March, 2024[1]

      State/UT

      Mar-23

      Mar-24

      Growth (%)

      Jammu and Kashmir

       477

       601

      26%

      Himachal Pradesh

       739

       852

      15%

      Punjab

       1,735

       2,090

      20%

      Chandigarh

       202

       238

      18%

      Uttarakhand

       1,523

       1,730

      14%

      Haryana

       7,780

       9,545

      23%

      Delhi

       4,840

       5,820

      20%

      Rajasthan

       4,154

       4,798

      15%

      Uttar Pradesh

       7,613

       9,087

      19%

      Bihar

       1,744

       1,991

      14%

      Sikkim

       262

       303

      16%

      Arunachal Pradesh

       144

       168

      16%

      Nagaland

       58

       83

      43%

      Manipur

       65

       69

      6%

      Mizoram

       70

       50

      -29%

      Tripura

       90

       121

      34%

      Meghalaya

       202

       213

      6%

      Assam

       1,280

       1,543

      21%

      West Bengal

       5,092

       5,473

      7%

      Jharkhand

       3,083

       3,243

      5%

      Odisha

       4,749

       5,109

      8%

      Chhattisgarh

       3,017

       3,143

      4%

      Madhya Pradesh

       3,346

       3,974

      19%

      Gujarat

       9,919

       11,392

      15%

      Dadra and Nagar Haveli and Daman & Diu

       309

       452

      46%

      Maharashtra

       22,695

       27,688

      22%

      Karnataka

       10,360

       13,014

      26%

      Goa

       515

       565

      10%

      Lakshadweep

       3

       2

      -18%

      Kerala

       2,354

       2,598

      10%

      Tamil Nadu

       9,245

       11,017

      19%

      Puducherry

       204

       221

      9%

      Andaman and Nicobar Islands

       37

       32

      -14%

      Telangana

       4,804

       5,399

      12%

      Andhra Pradesh

       3,532

       4,082

      16%

      Ladakh

       23

       41

      82%

      Other Territory

       249

       196

      -21%

      Center Jurisdiction

       142

       220

      55%

      Grand Total

       1,16,659

       1,37,166

      18%

      Table-2: SGST & SGST portion of IGST settled to States/UTs April-March (Rs. in crore)

       

      Pre-Settlement SGST

      Post-Settlement SGST[2]

      State/UT

      2022-23

      2023-24

      Growth

      2022-23

      2023-24

      Growth

      Jammu and Kashmir

       2,350

       2,945

      25%

       7,272

       8,093

      11%

      Himachal Pradesh

       2,346

       2,597

      11%

       5,543

       5,584

      1%

      Punjab

       7,660

       8,406

      10%

       19,422

       22,106

      14%

      Chandigarh

       629

       689

      10%

       2,124

       2,314

      9%

      Uttarakhand

       4,787

       5,415

      13%

       7,554

       8,403

      11%

      Haryana

       18,143

       20,334

      12%

       30,952

       34,901

      13%

      Delhi

       13,619

       15,647

      15%

       28,284

       32,165

      14%

      Rajasthan

       15,636

       17,531

      12%

       35,014

       39,140

      12%

      Uttar Pradesh

       27,366

       32,534

      19%

       66,052

       76,649

      16%

      Bihar

       7,543

       8,535

      13%

       23,384

       27,622

      18%

      Sikkim

       301

       420

      39%

       839

       951

      13%

      Arunachal Pradesh

       494

       628

      27%

       1,623

       1,902

      17%

      Nagaland

       228

       307

      35%

       964

       1,057

      10%

      Manipur

       321

       346

      8%

       1,439

       1,095

      -24%

      Mizoram

       230

       273

      19%

       892

       963

      8%

      Tripura

       435

       512

      18%

       1,463

       1,583

      8%

      Meghalaya

       489

       607

      24%

       1,490

       1,713

      15%

      Assam

       5,180

       6,010

      16%

       12,639

       14,691

      16%

      West Bengal

       21,514

       23,436

      9%

       39,052

       41,976

      7%

      Jharkhand

       7,813

       8,840

      13%

       11,490

       12,456

      8%

      Odisha

       14,211

       16,455

      16%

       19,613

       24,942

      27%

      Chhattisgarh

       7,489

       8,175

      9%

       11,417

       13,895

      22%

      Madhya Pradesh

       10,937

       13,072

      20%

       27,825

       33,800

      21%

      Gujarat

       37,802

       42,371

      12%

       58,009

       64,002

      10%

      Dadra and Nagar Haveli and Daman and Diu

       637

       661

      4%

       1,183

       1,083

      -8%

      Maharashtra

       85,532

       1,00,843

      18%

       1,29,129

       1,49,115

      15%

      Karnataka

       35,429

       40,969

      16%

       65,579

       75,187

      15%

      Goa

       2,018

       2,352

      17%

       3,593

       4,120

      15%

      Lakshadweep

       10

       19

      93%

       47

       82

      75%

      Kerala

       12,311

       13,967

      13%

       29,188

       30,873

      6%

      Tamil Nadu

       36,353

       41,082

      13%

       58,194

       65,834

      13%

      Puducherry

       463

       509

      10%

       1,161

       1,366

      18%

      Andaman and Nicobar Islands

       183

       206

      12%

       484

       528

      9%

      Telangana

       16,877

       20,012

      19%

       38,008

       40,650

      7%

      Andhra Pradesh

       12,542

       14,008

      12%

       28,589

       31,606

      11%

      Ladakh

       171

       250

      46%

       517

       653

      26%

      Other Territory

       201

       231

      15%

       721

       1,123

      56%

      Grand Total

       4,10,251

       4,71,195

      15%

       7,70,747

       8,74,223

      13%

       

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