Tamil Nadu Chief Minister MK Stalin has condemned Union Finance Minister Nirmala Sitharaman for her behavior towards a Coimbatore businessman who raised concerns about the Goods and Services Tax (GST). The businessman, D Srinivasan, owner of Sri Annapoorna restaurant, was seen in a viral video apologizing to Sitharaman after discussing the complexities of GST on ...
 "Union Finance Minister Nirmala Sitharaman announces GST relief for automotive, advertising, data hosting, and exporters, boosting growth and competitiveness.")
The Union Finance Ministry recently provided relief to several industries, including automotive, data hosting services, and advertising agencies that work with foreign clients. One key circular clarified that demo vehicles used by dealers for test drives can still qualify for GST deductions, as they support vehicle sales. Another circular recognized data hosting services provided by ...
 "The GST Council’s dramatic meeting addressed insurance tax reforms, foreign airline relief, and surging revenues from online gaming.")
During the 54th GST Council meeting in New Delhi, Finance Minister Nirmala Sitharaman announced several key decisions. The council is exploring a state panel to review the compensation cess and its future beyond March 2026. Discussions included potential exemptions for life and health insurance premiums from GST, although further deliberation is needed. To support foreign ...
 "Bandhan Bank unveils GST payment service, enhancing access to government services and confirming its role in revenue collection in West Bengal.")
Bandhan Bank has introduced a new service enabling both customers and non-customers to pay Goods and Services Tax (GST) online and offline. This initiative is part of the bank’s commitment to providing easier access to government services, according to Rajinder Babbar, Executive Director and Chief Business Officer. As a Kolkata-based private bank, Bandhan Bank has ...
 "Finance Minister Nirmala Sitharaman announces key GST reforms, including a GoM to reduce insurance taxes and lower rates on cancer drugs.")
During the 54th GST Council meeting, Union Finance Minister Nirmala Sitharaman announced the formation of a Group of Ministers (GoM) to evaluate the GST rates for life and health insurance. This GoM will be led by Bihar Deputy Chief Minister Samrat Choudhary and is expected to submit its report by the end of October 2024. ...
 "The GST Council meeting, chaired by Nirmala Sitharaman, tackles crucial tax issues, including health insurance exemptions and online gaming regulations.")
The GST Council, led by Finance Minister Nirmala Sitharaman, is set to address key issues, including the taxation of insurance premiums and online gaming fees. A major focus will be whether to reduce the current 18 percent GST on health insurance or exempt senior citizens from this tax. The council’s discussions will also cover revenue ...
The GST Council is set to discuss four proposals to alter the tax treatment of health insurance during its upcoming meeting. These options stem from a request to reduce taxes on health insurance products, aiming to make them more affordable. The proposals include fully exempting all health insurance premiums, cutting the GST rate from 18% ...
 "Munjal Auto Faces Rs 6.76 Crore GST Notice, Vows to Fight Back")
Munjal Auto Industries has received a GST demand notice from the Haryana GST authority for Rs 6.76 crore related to the period from April 2019 to March 2020. The company plans to appeal the notice within the specified timeframe and is preparing a robust defense. Despite the significant amount, Munjal Auto assures that this will ...
 "India’s GST Surges to Rs 1.75 Trillion Amid Festival Demand and Compliance")
In August, India reported a Goods and Services Tax (GST) collection of Rs 1.75 trillion, marking a 10 percent increase compared to last year. This growth is attributed to stronger consumer spending as the festive season approaches, along with enhanced GST audits and investigations that have improved compliance. Domestic collections rose by 9.2 percent, while ...
 "LIC Faces ₹605.58 Crore GST Demand Amid Taxation Controversy")
Life Insurance Corporation of India (LIC) has received a tax demand notice amounting to approximately Rs 605.58 crore due to a short payment of Goods and Services Tax (GST) for the financial year 2019-20. The notice indicates issues related to incorrect input tax credit claims and late payment interest. This demand includes a breakdown of ...
