RBI May Have Sold $12 Billion Gold to Shield Forex Reserves
Amid US-Iran conflict, RBI likely sold gold worth $12 billion to protect forex reserves from rising oil prices and rupee pressure, says Bloomberg Economics.
Category : GST & Taxation
GST Growth Slows to 3.2% in May at Rs 1.94 Lakh Crore
India's GST collections grew only 3.2% in May to Rs 1,94,184 crore, impacted by a dip in domestic revenue, but adjusted for a one-time telecom gain, growth was 9%.
Telangana Paddy Procurement Drive Pays Off: Minister Uttam
Telangana minister Uttam Kumar Reddy reviewed paddy procurement in Suryapet, stating 64 LMT purchased via 8,575 centres, with Rs 11,500 crore transferred to farmers.
Gujarat GST Collections Rise 16% in May
Gujarat's GST collections grew 16% year-on-year in May to Rs 7,262 crore, outpacing the national growth rate of 3.2%. Total state revenue from GST, VAT, electricity duty, and professional tax reached Rs 10,998 crore.
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Bhopal Consumers Face Higher Power Bills Due to Tariff Hike
Bhopal residents face rising electricity bills due to a 4.8% tariff hike and a 3.91% fuel surcharge for May-June, adding to summer expenses.
GST Collection Drops to Rs 1.94 Lakh Crore in May
India's GST collection fell to Rs 1.94 lakh crore in May 2025, marking a 4% decline from April's record high. Experts cite lower economic activity and compliance factors.
Commercial LPG price hiked by Rs 53.50 in Ranchi
The price of a 19-kg commercial LPG cylinder in Ranchi increased by Rs 53.50 to Rs 3,304, impacting restaurants, caterers, and small businesses already facing high fuel costs.
India's GST Collection Up 3.2% to Rs 1.94 Lakh Crore in May
India's gross GST collection increased 3.2% YoY to Rs 1.94 lakh crore in May 2026, driven by higher domestic supplies and imports. Net collections stood at Rs 1.67 lakh crore after refunds.
GST Collections Up 32% in May to Rs 1.94 Lakh Crore
India's GST collections rose 32% year-on-year to Rs 1.94 lakh crore in May, driven by strong economic activity and improved compliance.
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GST Collections Rise 3.2% to Rs 1.94 Lakh Crore in May
India's gross GST collections rose 3.2% year-on-year to over Rs 1.94 lakh crore in May, driven by imports. Net GST revenue increased 3.3% to Rs 1.67 lakh crore.
CAIT Seeks GST Simplification, Notes Sevenfold Rise in Collections
The Confederation of All India Traders (CAIT) has urged the government to further simplify the Goods and Services Tax (GST) regime, highlighting that monthly collections have increased sevenfold since its rollout.
UPPCL Imposes 10% Fuel Surcharge on UP Electricity Bills
UPPCL has levied a 10% fuel surcharge on June electricity bills, impacting consumers. The move is expected to generate Rs 1,610 crore, sparking criticism from consumer groups.
UPPCL imposes 10% fuel surcharge on UP electricity consumers
UPPCL has imposed a 10% fuel and power purchase adjustment surcharge on electricity consumers for June, expected to generate Rs 1,610.57 crore. Consumer groups protest the burden.
Konkan Railway Intensifies Ticket Checks, Recovers Rs 2.9 Crore
Konkan Railway intensified ticket inspections in April 2026, detecting 37,000 unauthorized travel cases and recovering Rs 2.9 crore. In 2025-26, over 4.99 lakh cases led to Rs 27.68 crore recovery.
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Supreme Court Upholds 28% GST on Online Gaming Bets
The Supreme Court upheld the 28% GST on the full face value of online gaming bets, validating the tax levy and dismissing challenges from gaming firms facing notices for Rs 2.5 lakh crore evasion.
Borrowed Success: Hidden Costs of Shortcuts
Explore the steep price of borrowed success, where shortcuts and unethical practices undermine genuine achievement and long-term growth.
179 Units Register for 24x7 Operations in Chandigarh
Nearly two years after Chandigarh allowed round-the-clock commercial operations, 179 units have registered, mostly food outlets. Revised norms cap work at 10 hours daily, 48 weekly.
Mumbai BEST Bus Fire at Santacruz Depot, Fourth in May
A BEST bus caught fire at Santacruz depot early Tuesday, the fourth bus fire reported this month. No injuries occurred. A short circuit in the driver's cabin is suspected.
Cabinet Clears Rs 25,530 Crore for Sarthak PDS Extension
The Union Cabinet has approved Rs 25,530 crore for the extension of the Sarthak PDS scheme for five years, aiming to strengthen food security and streamline distribution.
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Onion MSP Raised to Rs 15/kg Amid Protests
The Centre raised onion MSP by Rs 3.50 to Rs 15/kg as farmers protest. CM Fadnavis criticizes opposition for politicizing the issue, says a meeting with Centre is scheduled.
Fresh Tenders for Vijayawada Railway Station Redevelopment
Indian Railways will issue new tenders for the Vijayawada station redevelopment project worth Rs 946.60 crore under the PPP model, aiming for an airport-like facelift.
LPG Distributors Accuse OMCs of Forced Commercial Cylinder Sales
LPG distributors in Rajasthan allege OMCs force billing of 19-kg and 5-kg commercial cylinders despite domestic LPG shortage, causing long waits for refills and financial burden.
Goa Revamps Land Valuation with Category-Based System
Goa's revenue department replaces uniform land rates with a category-based system in Taleigao, assigning different values based on location and amenities to improve accuracy and transparency.
Fuel Price Hikes Threaten Mumbai's Transport and Fisheries
Fuel price hikes in quick succession are causing distress among transport, logistics, fisheries, and traders in Mumbai, with warnings of slowdown and potential shutdowns.
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Fuel Price Hikes Hit Mumbai Transport, Fisheries, Traders
Fuel price hikes in Mumbai are causing distress among transport, logistics, fisheries, and traders, threatening livelihoods and increasing costs of essential goods.
Mahayuti govt yet to decide on VAT cut amid fuel price hikes
Despite central urging, Maharashtra's Mahayuti govt is undecided on reducing VAT on fuel due to rising debt and fiscal strain, while opposition slams price hikes.
Telangana Fuel Prices High Due to Steep VAT
Telangana's fuel prices are among India's highest due to a 35.2% VAT on petrol and 27% on diesel. The ad valorem tax system causes automatic revenue increases with crude prices, while states like Delhi have lower rates.
Haryana Advances Sunflower Procurement to May 25
Haryana advances sunflower procurement under PSS to May 25, a week earlier than scheduled, following BKU pressure. Farmers urged to participate at Shahabad market.
Toll hike at Ponnarimangalam plaza despite incomplete work
Toll rates at Ponnarimangalam plaza on Vallarpadam-Kalamassery stretch hiked from May 22, 2027. Monthly pass for cars rises to Rs 2,150; locals demand infrastructure completion.
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Iran-U.S. Deal Imminent? 9-Point Formula Out, Nukes Off Table
A dramatic new twist may be unfolding in the Iran conflict after Saudi network Al-Arabiya published what it claims is the final draft of a possible U.S.-Iran agreement brokered through Pakistan.
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