{
Pankaj Chaudhary

People

}
cryptocurrency regulation and market trends poised for change in 2025
The year 2025 is poised to be pivotal for cryptocurrencies, with Bitcoin prices potentially reaching new heights amid regulatory shifts anticipated from the incoming US administration. As Bitcoin's value surged to $108,000, Indian exchanges like CoinDCX are exploring growth strategies in an evolving regulatory landscape. Indian policymakers are closely monitoring global trends and engaging with international counterparts to develop a comprehensive framework for virtual digital assets, as highlighted by Finance Minister Pankaj Chaudhary's recent remarks on the need for tailored regulations.
Forbes India
USA IND Donald Trump Sumit Gupta Pankaj Chaudhary Show more
Finance & Economy, News Article
05:58 23.12.2024
gst officers uncover massive itc evasion by fake firms totaling 35132 crore
GST officers have uncovered ITC evasion amounting to Rs 35,132 crore linked to 17,818 fake firms from April to October, resulting in the arrest of 69 individuals. Minister of State for Finance Pankaj Chaudhary reported that a special drive was conducted to identify these fraudulent entities, with 18,876 ITC fraud cases detected during this period.
Moneycontrol
IND Pankaj Chaudhary
Regulatory & Legal, News Article
13:34 09.12.2024
gst council confirms no pending report on rate rationalisation from gom
The finance ministry confirmed that no report from the Group of Ministers (GoM) on rate rationalisation is pending for the GST Council's consideration. This clarification was made in Parliament, addressing speculation about potential tax rate reductions from 12% to 5% based on state ministers' recommendations. The GST Council is set to meet on December 21.
Moneycontrol
IND Pankaj Chaudhary
Finance & Economy, News Article
10:56 09.12.2024
gst revenue from healthcare and life insurance exceeds 16000 crore in fy24
GST on healthcare and life insurance services generated over Rs 16,000 crore in FY24, with Rs 8,135 crore from life insurance and Rs 8,263 crore from health insurance. The standard GST rate on health insurance is 18%, while specific schemes for economically weaker sections are exempt. A Group of Ministers is reviewing GST issues related to these sectors, with recommendations expected to be presented to the GST Council in December.
Business Today
Universal Health Insurance Scheme Niramaya Health Insurance Scheme Rashtriya Swasthya Bima Yojana IND Pankaj Chaudhary Samrat Choudhary Show more
Finance & Economy, News Article
13:33 25.11.2024
upi transactions surge 35 percent amid rising fraud cases and prevention measures
UPI transactions surged 34.5% in value to Rs 122 lakh crore during April-September, with a volume increase of 46% to 8,566.52 crore, as reported by Minister of State for Finance Pankaj Chaudhary. However, 6.32 lakh fraud cases valued at Rs 485 crore were recorded, prompting the government and financial institutions to implement measures like device binding, two-factor authentication, and AI-based fraud monitoring to enhance security.
Moneycontrol
Indian Rupee National Payments Corporation OF India IND Pankaj Chaudhary
Finance & Economy, Market Report
11:18 25.11.2024
Group of Ministers to Present GST Recommendations on Life and Health Insurance
Parliament was informed that the Group of Ministers (GoM) examining GST on life and health insurance will present its recommendations to the GST Council once received. The issue of exempting or reducing GST was discussed at the Council's 54th meeting on September 9, 2024, leading to the GoM's formation under Bihar's Deputy Chief Minister Samrat Chaudhary. The first GoM meeting took place on October 19, 2024, focusing on GST rates, which currently stand at 18% for health and pure term life insurance services.
website
United States Dollar Indian Rupee IMF Reserve Bank of India CHE IND CHN JPN Pankaj Chaudhary Samrat Choudhary Show more
Finance & Economy, News Article
10:55 25.11.2024
gst council reviews health insurance tax rates amid ongoing discussions
The GST Council discussed the exemption and reduction of GST on life and health insurance during its 54th meeting on September 9, 2024, leading to the formation of a Group of Ministers (GoM) chaired by Bihar's Deputy Chief Minister Samrat Chaudhary. The GoM's first meeting on October 19, 2024, focused on GST rates, which currently stand at 18% for health and pure term life insurance. Revenue from GST on these services reached Rs 8,263 crore and Rs 8,135 crore in fiscal 2023-24, showing a mixed trend compared to the previous year.
Moneycontrol
United States Dollar Reserve Bank of India IND Pankaj Chaudhary Samrat Choudhary
Finance & Economy, Press Release
10:53 25.11.2024
finance ministry clarifies gst exemption status for health and life insurance
The Finance Ministry has clarified that while certain government-backed health and life insurance schemes are exempt from GST, there are no plans to extend this exemption to all policies. Exemptions currently apply to programs like the Rashtriya Swasthya Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, which target economically disadvantaged groups. A Group of Ministers has been formed to evaluate the implications of GST on these sectors, with their recommendations pending review by the GST Council.
NDTV Profit
Pradhan Mantri Jeevan Jyoti Bima Yojana Ayushman Bharat PM-JAY IND Pankaj Chaudhary Samrat Choudhary
Regulatory & Legal, News Article
06:21 25.11.2024
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