The Goods and Services Tax (GST) was passed in a joint session of parliament on 1 July, 2017. It is the biggest tax reform in the history of the country. GST’s rollout abolished a plethora of regional taxes and ushered in a unified indirect tax regime across the country. This change was expected to cut red tape, facilitate movement of goods and services across state borders and widen the tax base by bringing erstwhile evaders into the system via the input tax credit radar. It was a radical reform. Reforms…

UPI payments had fell to 999.57 million in terms of volume with transactions worth of  Rs 1.51 lakh crore in April, following the coronavirus-induced lockdown that halted almost all services, except essentials. Payments on Unified Payments Interface (UPI) in June hit an all-time high of 1.34 billion in terms of volume with transactions worth nearly Rs 2.62 lakh crore, as per National Payments Corporation of India (NPCI) data. On a month-on-month basis it registered a 8.94% growth from 1.23 billion in May. UPI payments had fell to 999.57 million in terms…

Bengaluru: The Nifty settled down 0.1% at 10,302.1 on Tuesday, while the benchmark Sensex slipped 0.13% to 34,915.8 after rising around 0.8% each during the session. Indian shares ended lower on the last day of its best quarter since 2009, led by losses in energy stocks, and ahead of Prime Minister Narendra Modi’s address to the nation. The Nifty settled down 0.1% at 10,302.1 on Tuesday, while the benchmark Sensex slipped 0.13% to 34,915.8 after rising around 0.8% each during the session. The Nifty closed over the quarter about up…