India’s GDP to Grow at 6.4% Real and 9.7% Nominal in FY25: 1st Advance Estimates

India’s economic trajectory continues to garner global attention, reflecting its resilience and strategic policy interventions. The recent fiscal projections and economic indicators underscore the nation’s commitment to sustainable growth and…

Marginal Tax Relief Explained: A Guide for Income Above ₹12 Lakh

The Union Budget 2025 has brought significant revisions to India’s income tax structure under the new regime, ensuring fair taxation for individuals earning beyond ₹12 lakh per annum. One crucial…

Goods and Services Tax (GST): A Comprehensive Guide

Introduction The Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax levied on the supply of goods and services in India. Implemented on July 1, 2017, GST replaced…

Comparing India’s GST with Global Taxation Models: Lessons from Other Countries

In the rapidly evolving landscape of taxation, the introduction of the Goods and Services Tax (GST) in India stands out as one of the most significant reforms in recent decades.…

GST Compensation Cess: Why It Matters for States’ Finances

Introduction The introduction of the Goods and Services Tax (GST) in India marked a significant shift from the previous tax structure, aiming to unify indirect taxation across the country. However,…

GST E-Invoicing: How It Works and Its Impact on Businesses

Introduction E-invoicing under the Goods and Services Tax (GST) framework is a system introduced by the Indian government to enhance tax compliance and streamline invoice reporting. It requires businesses to…

Why Petroleum and Liquor Are Outside GST: A Detailed Analysis

Goods and Services Tax (GST) is a unified tax system that has replaced multiple indirect taxes in India. However, certain high-revenue generating commodities like petroleum products and liquor have been…

Reverse Charge Mechanism (RCM) under GST A Complete Guide

The Reverse Charge Mechanism (RCM) under the Goods and Services Tax (GST) is a concept where the recipient of goods or services is liable to pay tax instead of the…

GST on Real Estate: What Homebuyers and Builders Should Know

The introduction of Goods and Services Tax (GST) has significantly impacted the real estate sector in India. Homebuyers and builders need to understand the applicable GST rates, exemptions, and compliance…

Understanding the GST Structure: CGST, SGST, IGST & UTGST

Goods and Services Tax (GST) is a unified tax system in India that replaced multiple indirect taxes. It is structured into four components: Central GST (CGST), State GST (SGST), Integrated…