Latest Updates
Indian-Origin US Doctor Jailed 34 Months for $700K Tax Evasion and Medical Fraud
Illinois physician Dr. Krishnaswami Sriram was sentenced to 34 months in prison for $700,000 tax evasion and medical fraud. He transferred funds overseas and left $1.6 million in unpaid taxes. This case is part of a larger problem: healthcare fraud costs the U.S. billions annually. Learn the full story, its impact, and lessons professionals can use to stay compliant, protect their reputation, and build careers on integrity.
Telangana Deputy CM Backs GST Reforms but Demands Fair Compensation for States
Telangana Deputy CM Mallu Bhatti Vikramarka has supported GST reforms while demanding fair compensation for states. He argues that without revenue guarantees, welfare and infrastructure could suffer, especially in southern states that contribute more but get less. Proposed solutions include continuing the GST compensation cess or taxing luxury and sin goods higher. The debate mirrors U.S. federal vs. state funding disputes, underlining the need for fairness in India’s tax reforms.
FMCG Stocks in Focus – Which Companies Gain the Most From GST Reforms?
India’s GST reforms slash taxes on essentials, benefiting FMCG companies like Bikaji, Emami, Dabur, and Nestlé while giants like HUL and Britannia enjoy steady growth. With consumption projected to rise by ₹1.98 lakh crore, analysts see strong investment potential in FMCG stocks. While risks like inflation and rural cycles remain, the sector offers a rare mix of growth and stability—making FMCG a solid long-term play.
GST Cuts Could Boost Consumption by ₹2 Lakh Cr – Can Economic Growth Offset Losses?
GST cuts could boost consumption by ₹2 lakh crore, fueling growth and easing inflation. But the government risks losing ₹85,000 crore annually in tax revenue, raising concerns for states. Experts believe stronger economic growth and improved tax collections can offset much of the loss, but only if fiscal balance and capital investment are protected. This article breaks down the risks, rewards, global context, and what it means for everyday Indians.
Health & Life Insurers Eye Zero GST – Will You Finally Pay Less on Premiums?
India’s plan to scrap GST on health and life insurance premiums could save policyholders up to 18% on costs. While this looks like a win for families, insurers warn that losing tax credits may lead to higher base premiums, trimming actual savings to around 8–12%. With a decision due by late 2025, this reform could transform affordability, boost insurance penetration, and reshape the financial security landscape.
12% & 28% GST Slabs Axe Approved – Will Consumers and Businesses Finally Benefit?
India’s GST overhaul is here: 12% & 28% GST slabs axe approved, moving toward a two-slab system at 5% and 18%. Consumers will enjoy cheaper essentials and big-ticket goods, while businesses benefit from simpler compliance. States, however, fear revenue loss and demand compensation. With rollout expected before Diwali 2025, the reform could reshape India’s tax landscape—if executed smoothly and backed by fair state support.
GST Reform May Cost Billions in Revenue – But Could Lower Costs Fuel Spending?
GST reform may cost India up to ₹1.1 trillion in lost revenue, but it could slash consumer costs and fuel spending. Experts forecast a $13 billion consumption surge and a 0.6% GDP boost, though states face fiscal strain. With historical context, global lessons, inflation impacts, and practical advice, this article breaks down how GST reform could reshape the economy for consumers, businesses, and policymakers alike.
GoM Endorses Two-Slab GST and 40% Sin Tax – Are Premium Goods About to Get Pricier?
India’s two-slab GST and 40% sin tax proposal aims to simplify the tax system and protect revenues. Essentials drop to 5%, standard goods steady at 18%, while luxury and harmful goods face a 40% levy. The reform could ease compliance for businesses and lower costs for households, but raise prices for premium buyers. With states concerned about revenue, the GST Council’s decision before Diwali 2025 will be crucial.
States Back GST Simplification to 5% & 18% – But Will Sin Goods Be Taxed More?
India’s GST is being simplified into two slabs—5% for essentials and 18% for most goods. But sin goods like tobacco, alcohol, and luxury cars will face a hefty 40% tax. While consumers benefit from simpler taxes and lower prices on appliances and mid-tier goods, states fear major revenue losses. This reform strikes a balance between affordability, revenue protection, and public health goals, making GST simpler but still controversial.
GST Shake-Up Sparks Tensions Between Centre and States – Can Revenue Gaps Be Bridged?
India’s GST shake-up has simplified rates but sparked a tug-of-war between the Centre and states. With billions in revenue losses looming, states fear budget shortfalls while the Centre bets on higher consumption to close the gap. Solutions include special excise duties, extending compensation cess, and direct grants. The outcome hinges on the GST Council’s ability to balance short-term state needs with long-term national growth.
