06 Jun, 2025
12% GST Rate Was Always Meant to Be Transitional When GST was launched in 2017, the government introduced five slabs: 0%, 5%, 12%, 18%, and 28%. But few taxpayers realize that the 12% GST rate was only a stopgap measure. It was not meant to last forever. In fact, official records and CBIC statements have […]
Read More06 Jun, 2025
Intro Paragraph:The Special Economic Zones (Amendment) Rules, 2025 bring a strategic boost to semiconductor manufacturing in SEZs and ease land usage norms. As notified by the Commerce Department in June 2025, these changes align with India’s ‘Make in India’ and chip self-reliance mission. What Changed in SEZ Rules 2025? Here’s a simplified overview of the […]
Read More06 Jun, 2025
India-Bhutan Food Safety Agreement What It Means for Indian Businesses On May 28, 2025, the Food Safety and Standards Authority of India (FSSAI) and Bhutan’s Food and Drug Authority (BFDA) officially signed an agreement under the Ministry of Health and Family Welfare to strengthen cooperation on food safety standards. This move goes beyond diplomacy. It […]
Read More06 Jun, 2025
IntroThe ₹800 crore GST scam in Jamshedpur has once again brought fraudulent input tax credit (ITC) rackets into the spotlight. This massive GST evasion, uncovered by the Enforcement Directorate (ED), exposes a deep-rooted network of fake firms and illegal transactions aimed at siphoning off government revenue. What Is the ₹800 Crore GST Scam About? How […]
Read More06 Jun, 2025
Summary Form 16 and Form 16A are crucial for e-filing your ITR in India. Ensure they’re downloaded only from TRACES and match your Form 26AS to avoid notices, rejections, or refund delays. What is Form 16 and Form 16A? Form 16 and Form 16A are TDS certificates issued under the Income-tax Act, 1961. Both are […]
Read More06 Jun, 2025
A New Paradigm for Income Tax Return Filing in India Clause 263 vs. Section 139 What’s Changing for ITR Filers? The Income Tax Bill, 2025 proposes Clause 263, a revamped provision that replaces the widely followed Section 139 of the Income-tax Act, 1961. This change aims to simplify, digitize, and streamline income tax return filing […]
Read More06 Jun, 2025
What Is the Repo Rate Cut 2025 All About? On June 6, 2025, the Reserve Bank of India’s Monetary Policy Committee (MPC) announced a significant repo rate cut of 50 basis points, reducing the rate from 6.0% to 5.5%. This decision, led by RBI Governor Sanjay Malhotra, marks a shift in monetary policy stance to […]
Read More06 Jun, 2025
Retailer Discounts & GST HC Rules No Consideration for Services In a landmark interim relief for traders, the Delhi High Court recently stayed a GST demand raised on the ground that retailer discounts were “consideration” for services rendered to manufacturers. This ruling is a major development in the ongoing debate around what qualifies as a […]
Read More06 Jun, 2025
IntroThe dismissal of the review petition in the Safari Retreats Pvt Ltd v. Chief Commissioner of CGST case has raised fresh doubts among taxpayers. However, legal experts confirm that the Safari Retreat ruling has no impact on the 2023 amendment to Section 17(5) of the CGST Act, which restricts ITC on immovable property. What was […]
Read More06 Jun, 2025
FDI Rules for Bordering Nations Remain Unchanged in 2025 In a recent clarification, official sources have confirmed that FDI rules for bordering nations such as China, Pakistan, Nepal, Bhutan, Bangladesh, Myanmar, and Afghanistan remain unchanged in 2025. This comes amid speculation about a potential easing of restrictions. FDI from these nations is still subject to […]
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