Union Finance Minister Nirmala Sitharaman

NextGen GST reform: Transformative leap for India's economic future

The NextGen GST reforms represent a bold reengineering of India's tax landscape, balancing simplicity, inclusivity, and economic competitiveness. By addressing structural inefficiencies, reducing consumer costs, and empowering businesses, they lay the groundwork for sustained growth, writes Major General Dilawar Singh. Sep 4, 2025
Money rupee

"No UPI, only cash": Bengaluru goes old-school; vendors fear tax notices

According to GST rules, businesses selling goods must register if their yearly sales exceed Rs 40 lakh, while the limit for service businesses is Rs 20 lakh. The department insists that businesses crossing these thresholds must register, disclose their taxable income, and pay GST accordingly. Jul 17, 2025
Centre notifies new Income-Tax Rules for non-resident cruise ship operators

CBDT amends rules, introduces Presumptive Taxation for non-resident cruise ship operators

The Central Board of Direct Taxes (CBDT) has notified amendments in the Income-Tax Rules. These amendments prescribe conditions for the applicability of a presumptive taxation regime for non-resident cruise ship operators. This development, announced on January 22, 2025, is part of the government's broader strategy to promote investment and employment in the country. Jan 22, 2025