24 Jul, 2025
Why Income Tax Day Matters: A Look at India’s Tax Journey Income Tax Day marks a pivotal moment in India’s economic history. Celebrated on 24th July each year, it commemorates the introduction of income tax in 1860 by Sir James Wilson to overcome the financial crisis following the 1857 revolt. Now in its 166th year, […]
Read More24 Jul, 2025
Delhi GST Tightens Rules on High-Risk Registrations The Delhi GST Department has made timely verification of high-risk GST registration applications mandatory, warning officials against citing “jurisdictional mismatch” as an excuse for delay. This move aims to curb fake firms, improve compliance, and prevent revenue leakage. Why This Matters Delhi has seen a surge in high-risk […]
Read More24 Jul, 2025
IntroductionThe limitation period in GST is a critical safeguard for taxpayers. But when a show cause notice (SCN) lumps together multiple financial years, it raises a key legal question: does it defeat the time limit prescribed under Section 73 or 74 of the CGST Act? This blog breaks it down using case laws and CBIC […]
Read More24 Jul, 2025
Gameskraft GST Case: 28% Tax on Face Value Under Supreme Court Scrutiny The Gameskraft GST case is once again under the Supreme Court’s spotlight. On 23 July 2025, lawyers representing online gaming and casino platforms strongly challenged the levy of 28% GST on the face value of bets, calling it arbitrary, unworkable, and contrary to […]
Read More24 Jul, 2025
Why Did Govt Forego ₹99,000 Crore in Corporate Tax Revenue? As per a written reply by the Ministry of Finance in July 2025, the government forewent ₹99,000 crore in corporate tax revenue in FY24. This was not a leak or loss—it was a deliberate policy choice. Let’s break down what this means and why it […]
Read More23 Jul, 2025
Women GST Taxpayers in India: A Silent Economic Shift India’s tax system is quietly witnessing a gender revolution. Women GST taxpayers in India now represent 20% of the total base, according to the latest SBI Ecowrap report. That’s 1 in every 5 GST registrations with at least one woman in a key role—either as owner, […]
Read More23 Jul, 2025
Service Tax on Charter Flights: What the Reliance Case Means The focus keyphrase “service tax on charter flights” is back in the spotlight as the Supreme Court takes up the Reliance Transport & Travels case. This has big implications for corporate travel, especially when companies hire chartered aircraft for transporting executives. Let’s break down what’s […]
Read More23 Jul, 2025
LLPs to face AMT even without deductions: What’s changing?The new Income Tax Bill proposes applying Alternative Minimum Tax (AMT) on LLPs, even if they don’t claim any deductions. Currently, many promoter-led LLPs or family office structures pay only 12.5% tax on profits, but that could soon change to 18.5%. This move may level the tax […]
Read More23 Jul, 2025
India’s Per Capita Income touches ₹1,14,710 in 2024–25 Per capita income in India has increased to ₹1,14,710 for FY 2024–25, as stated by the Minister of State for Finance in the Lok Sabha. But the jump in national average masks deep disparities across states — from Goa and Sikkim on top to Bihar and Uttar […]
Read More23 Jul, 2025
GST on Health Insurance May Be Slashed: Big Relief forFamilies The GST Council is considering a GST cut on health insurance, especially for citizens and the middle class. Currently, most health insurance policies attract 18% GST — adding a significant burden to annual premiums. If the Council greenlights this proposal, lakhs of families could save […]
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