The GST Council reduced the tax rate on hotel accommodation up to ₹7,500 per day from 12% with ITC to 5% without ITC. The move aims to simplify taxation and reduce service costs for consumers.
The exchange sought voluntary exit under the SEBI Exit Policy after failing to meet clearing corporation and net worth requirements. SEBI is currently examining the proposal before issuing a final order.
The Government clarified that GST on food products, including ultra-processed foods, is determined according to HSN classification. There is currently no special GST category for unhealthy foods.
The Government clarified that banks can levy charges for non-maintenance of minimum balance as per RBI guidelines. Such fees must remain reasonable, transparent, and aligned with service costs.
The GST Council reduced the tax rate on adult and clinical diapers from 12% to 5%. The Government clarified that a complete GST exemption has not been recommended.
The GST Council reduced tax on hotel accommodation up to ₹7,500 per day from 12% with ITC to 5% without ITC. The move aims to simplify taxation and reduce consumer costs.
The exemption for disability pension has been preserved under the Income-tax Act, 2025 to maintain the relief previously available under earlier tax laws.
The government informed Parliament about measures taken with RBI and other agencies to identify and block illegal loan apps operating through unauthorized platforms.
The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentiality provisions under the Income Tax Act.
The government informed Parliament that mule accounts are increasingly used in cyber frauds. RBI has introduced AI-based tools and stricter monitoring to detect suspicious transactions.
