The judgment came after a taxpayer challenged show-cause notices issued under the Tripura Value Added Tax (TVAT) Act, which had ceased to operate following the rollout of GST in 2017. Despite the law being repealed, authorities initiated proceedings almost nine years later, leading the court to call the move “arbitrary and unsustainable.”

The bench noted that deposits taken at the time of registration under the VAT regime were meant for compliance under a law that no longer exists. Therefore, the State cannot hold them indefinitely. Once the VAT system was replaced by GST, those deposits rightly belong to the taxpayers, the court said, directing the authorities to return the money without delay.

The ruling reinforces earlier legal interpretations from the Supreme Court, which has repeatedly clarified that states cannot amend, revive, or use VAT powers after GST came into effect. Any tax action must derive authority from a valid, existing statute—not one that has been abolished.

Legal experts say the Tripura judgment strengthens taxpayer rights and prevents misuse of outdated laws for revenue recovery. It also provides relief to businesses that still had deposits stuck under the old VAT system.

With this order, taxpayers in Tripura can now seek a refund of their VAT-era deposits and challenge any delayed or revival-based notices issued without lawful authority.

The post Tax Refund Real Estate: Tripura High Court Says VAT Powers Cannot Be Revived After GST appeared first on India Podcast.

The case involved a Mumbai homebuyer who booked a 1,000 sq ft apartment in January 2017 for over ₹2 crore. The developer promised possession by December 2019, with a grace period until December 2020. Delays forced the buyer to withdraw and request a refund of the principal amount along with taxes.

MahaRERA had ordered the developer to refund the principal with interest. The buyer asked MREAT to include statutory taxes in the refund. The developer argued that it only collected taxes on behalf of the government and did not benefit from them.

MREAT agreed. The tribunal explained that GST, MVAT, TDS, stamp duty, and registration fees belong to the government. Developers act as collection agents. TDS goes directly to the Income Tax Department. Stamp duty and registration fees are in the buyer’s name. Buyers must apply to authorities for any refunds.

Legal experts welcomed the clarity. Trupti Daphtary, a Mumbai solicitor, noted that the Bombay High Court is reviewing related issues. The court will decide if developers must pay interest on statutory amounts under Section 18 of RERA.

The tribunal reaffirmed that Section 18(1) of RERA requires developers to refund only the money they actually received for the flat. Statutory levies remain outside this obligation.

This ruling clears confusion over tax refunds in real estate transactions. Buyers now know they must seek GST, TDS, stamp duty, and registration refunds directly from the government, not developers.

The post Maharashtra Tribunal Rules Homebuyers Cannot Claim Tax Refunds appeared first on India Podcast.

Morgan Stanley sees a 50 per cent chance that the BSE Sensex will reach 89,000 by June 2026, implying a 6 per cent upside. It said India’s growth cycle will strengthen, supported by RBI’s rate cuts and a lower cash reserve ratio (CRR).

The firm cited deregulation, liquidity infusion, and a possible India-US trade deal as major catalysts. It added that easing ties with China and GST cuts worth ₹1.5 trillion could lift investor sentiment. Analysts believe falling oil intensity in GDP and stronger exports will help cut real rates and steady inflation.

Morgan Stanley prefers domestic cyclicals such as financials, consumer discretionary, and industrials over defensives. The firm expects stronger foreign inflows and monetary easing to further boost India’s equity outlook in the near term.

The post Morgan Stanley Sees Sensex Surge Ahead appeared first on India Podcast.

The GST assesses global progress under the Paris Agreement every five years. Yadav highlighted that developing nations face critical resource shortages for adaptation and mitigation. “Dialogue is important, but action is imperative,” he said, stressing that continuous reviews without implementation are no longer sufficient.

Yadav noted the first GST successfully affirmed the Paris Agreement’s implementation. He outlined GST’s three roles: evaluate collective progress, identify gaps, and guide enhanced domestic and global climate actions. Future GSTs should consider scientific assessments carefully, ensuring relevance and rigor.

Earlier, at the Pre-CoP30 Ministerial Roundtable, Yadav urged translating global commitments into local solutions. He said climate policies must improve people’s lives and accelerate implementation. COP30 will be hosted in Belém, Brazil, from November 10-21, 2025.

The post India Calls for Urgent Climate Action appeared first on India Podcast.

All registered taxpayers under the regular GST scheme, including SEZ units and developers, must file GSTR-9. Taxpayers shifting from the composition scheme to the regular scheme during the year are also required to submit this form. Composition scheme taxpayers should use Form GSTR-9A. Casual, non-resident, ISD, and OIDAR service providers are exempt unless notified otherwise.

Form GSTR-9C must be filed by taxpayers exceeding the government-specified turnover threshold. These taxpayers must also have their accounts audited by a Chartered or Cost Accountant and submit audited statements along with the reconciliation. Experts emphasize preparing filings early to ensure compliance and avoid last-minute issues.

GSTR-9 provides a summary of a business’s sales, purchases, and GST collected or paid. All taxpayers with annual turnover above Rs 2 crore are mandated to file the return. Timely filing ensures legal compliance and helps maintain accurate financial records.

The post GST Portal Enables Online Filing for FY 2024–25 appeared first on India Podcast.

Steel and heavy engineering contribute about 25% of India’s steel output from Jharkhand. The GST cuts support sectors that depend on steel, such as construction and automotive. Taxes on two-wheelers and small cars dropped from 28% to 18%, while tractors below 1800cc now attract only 5%.

Auto components and commercial vehicles also enjoy lower tax rates, making machinery and vehicles cheaper. This reform boosts demand, increases production, and creates more jobs in Jharkhand’s steel and engineering ecosystem. Over one lakh workers benefit from the sector’s expansion, supported by thousands of MSMEs.

The reforms improve domestic consumption and enhance Jharkhand’s export competitiveness. The state exports steel and machinery to the US, China, Japan, and Europe. By reducing costs and promoting efficiency, the GST reforms place Jharkhand firmly on the path of industrial excellence and sustainable growth.

The post GST Reforms Boost Jharkhand’s Industrial Growth appeared first on India Podcast.

For local deliveries, items up to 50 grams will cost Rs 19. Parcels weighing 50–250 grams will be charged Rs 24, while items weighing 250–500 grams will cost Rs 28. Charges for longer distances will range from Rs 47 to Rs 93 depending on weight and distance. GST will apply to all shipments.

Speed Post services have evolved since 1986 to meet customer needs. The new features include secure OTP delivery, online payment, SMS notifications, online booking, real-time delivery updates, and registration options. These upgrades aim to strengthen Speed Post as the preferred delivery service in India.

The tariff for Inland Speed Post was last revised in October 2012. The revision reflects rising operational costs and aims to support ongoing improvements and new innovations. India Post remains committed to providing fast, reliable, and secure delivery services across the country.

The post India Post Revises Inland Speed Post Tariff appeared first on India Podcast.

The initiative coincides with GST 2.0, which introduces a two-slab tax system. GST on over 375 daily-use items has been cut. Prime Minister Narendra Modi described the campaign as a “festival of savings” for all Indians.

During the campaign, MPs and party workers will conduct daily padyatras in selected markets. They will greet shopkeepers with flowers and distribute placards promoting Swadeshi and Made-in-India products. The campaign also emphasizes supporting local businesses.

The outreach aims to help the poor, middle class, MSMEs, women, and youth by lowering household expenses. MPs will submit daily reports of their activities to central and state offices. The new GST rates will simplify compliance for businesses and make essential items more affordable nationwide.

The post BJP Launches ‘GST Savings Festival’ Nationwide appeared first on India Podcast.

Finance Minister Nirmala Sitharaman described the reform as a “Diwali gift” for consumers. The move aims to lower costs for the middle class and simplify business operations. Daily food items, personal care products, electronics, medicines, and medical devices will see tax reductions.

In the services sector, GST cuts apply to gyms, yoga centres, salons, and barbers. Cement tax is reduced from 28 per cent to 18 per cent, benefiting homebuyers. Companies have been directed to revise MRPs and pass savings to consumers.

Brands have already responded. Hindustan Unilever lowered prices on Dove, Lifebuoy, Horlicks, and Kissan Jam. Amul cut prices on over 700 dairy products. Automakers like Maruti, Tata, and Hyundai announced price reductions on hatchbacks ranging from Rs 70,000 to Rs 1.3 lakh.

The post GST 2.0: Prices of 375 Goods Slashed appeared first on India Podcast.

He highlighted government efforts to improve ease of doing business and manufacturing. New industrial cities, a logistics policy, and decriminalisation of minor offences were cited. Certain sectors, like automobiles, have started reducing prices, showing early GST benefits. The government aims to strengthen trade ties through free trade agreements.

Businesses have been directed to display tentative price lists for goods, including cars and consumer durables. This ensures consumers see the impact of the new rates. Retailers and dealerships must display both pre- and post-GST prices to ensure transparency. The CBIC held meetings with ministries and industry associations for smooth implementation. Consumer durables are expected to drop by at least 10 per cent, while automobile prices could fall 12–15 per cent under the new GST regime.

The post Piyush Goyal Urges Pass-On of GST Benefits appeared first on India Podcast.