Author: Editorial Staff

Harnessing its formidable agricultural prowess, India is poised to set a global standard for sustainable development, showcasing a strategic pivot from surplus to self-sufficiency. The minimum support price (MSP) mechanism serves as a critical lifeline for Indian farmers, ensuring a guaranteed minimum price for their crops irrespective of market volatility. Instituted by the government and … Continue reading From Surplus to Self-Sufficiency—India’s Audacious Journey Towards a Sustainable Biofuel Future

The central government is poised to expedite the repayment of ₹2.69 lakh crore in market loans, originally secured to compensate states for GST revenue shortfalls during FY21 and FY22. According to an authoritative source, the repayment could be completed by November 2025, surpassing the earlier target of March 2026 by four months. This critical financial … Continue reading Central Government to Accelerate Repayment of ₹2.69 Lakh Crore GST Compensation Loans

Union Finance Minister Nirmala Sitharaman, in the wake of queries regarding the inclusion of petroleum products under GST, evoked the foresight of her predecessor, Arun Jaitley. “Today’s GST Council meeting has seen significant strides in trade facilitation, the reduction of compliance burdens, and delivering tangible relief to taxpayers,” she asserted. When probed about the potential … Continue reading Finance Minister Nirmala Sitharaman Reflects on Arun Jaitley’s Legacy Amidst GST Council Decisions

The imperative of filing an Income Tax Return (ITR) extends beyond the threshold of taxable income exceeding the basic exemption limit. Intricacies within the income tax laws necessitate mandatory ITR submission under specific conditions, irrespective of whether the taxable income falls below this exemption limit. Suresh Surana, an esteemed chartered accountant, elucidates, “Section 139 enforces … Continue reading Mandatory Income Tax Return Filing— FY 2023-2024

The Union Finance Ministry has recently initiated its comprehensive consultations for the upcoming Union Budget, engaging with diverse economic stakeholders to shape the fiscal landscape of the nation. On a pivotal Saturday morning, Union Finance Minister Nirmala Sitharaman chaired a significant pre-budget meeting, convening Finance Ministers from all States and Union Territories. This high-level assembly, … Continue reading Nirmala Sitharaman Leads Crucial Pre-Budget Dialogue with State Finance Ministers

GST Council Announces Compliance Relief for Students and Professionals Union Finance Minister Nirmala Sitharaman held a press conference following the 53rd GST Council Meeting in New Delhi, highlighting the Council’s latest recommendations. While the agenda did not include discussions on online gaming taxation, significant measures were introduced to ease GST compliance for assessees. The Council’s … Continue reading GST Council Implements Compliance Easing Measures, Omits Online Gaming Tax Review

In a notable assertion of federal solidarity, Union Finance Minister Nirmala Sitharaman underscored the Centre’s steadfast support to States through timely tax devolution and the clearance of GST compensation arrears, aimed at stimulating economic growth. This was prominently highlighted during the 53rd GST Council meeting held in New Delhi on June 22, 2024. During this … Continue reading States Press for Increased Funding Amidst Federal Financial Backing