Between April 2024 and January 2025, officers of the Central Goods and Services Tax (CGST) department uncovered significant tax evasion amounting to ₹1.95 lakh crore across 25,397 cases. This substantial figure underscores the ongoing challenges in ensuring compliance within the Goods and

Finance Minister Nirmala Sitharaman announces imminent reductions in GST rates and rationalization of tax slabs, with the review process in its final stages, aiming to simplify the tax structure and promote economic growth.

The Income Tax Department is initiating a nationwide crackdown on approximately 40,000 taxpayers who have failed to deduct or deposit Taxes Deducted at Source (TDS) and Taxes Collected at Source (TCS) for the financial years 2022-23 and 2023-24. This initiative aims to address significant discrepancies in tax deductions and penalize repeat offenders. The Central Board […]

In a bid to curb tax evasion under the Goods and Services Tax (GST) regime, the government plans to introduce a unique identification (UID) mechanism for select commodities. The system is expected to enhance transparency in the supply chain and strengthen compliance in sectors prone to tax evasion. Focus on High-Risk Commodities The UID mechanism […]