23 Jul, 2025
Why Small Business Tax Rules Need Reform: SBI Raises a Red FlagIndia’s formalisation push depends on one pillar — small businesses adopting GST and digital systems. But a new SBI Research report warns that if tax authorities take harsh or inflexible actions, many of these firms could regress into the cash economy. This blog unpacks […]
Read More23 Jul, 2025
Demystifying Income Tax Filing: Who Must File Their Income Tax Return? Filing your income tax return (ITR) is not just for salaried individuals. The rules are broader and stricter than most people realise. In this blog, we break down who must file income tax return in India, based on the latest CBDT guidelines and legal […]
Read More23 Jul, 2025
Why Is GSTAT Still Not Operational? Legal Reasons Explained The delay in operationalising the Goods and Services Tax Appellate Tribunal (GSTAT) has frustrated many taxpayers and professionals. Though it was cleared in principle in 2023, the Ministry of Finance has recently clarified that legal and procedural hurdles are behind the delay. In this blog, we […]
Read More23 Jul, 2025
Summary Supreme Court has dismissed an SLP against the Gujarat HC’s interim relief restricting ITC blocking under Rule 86A to 10%. This means no final ruling yet, and the GST department can still block 100% ITC as per current law. SC dismisses SLP on 10% ITC block: What it means for taxpayers The focus keyphrase […]
Read More23 Jul, 2025
GST Compensation Dues: What States Got and What’s NextThis update from the Finance Ministry ends years of speculation about pending dues and opens the door for a new mechanism to support state revenues post-compensation cess.To ease this, the Centre promised a five-year compensation for any shortfall in their annual revenue growth, calculated at 14% from […]
Read More23 Jul, 2025
Can GST Apply to Entire Bet Value in Casinos or Gaming? Supreme Court Weighs In The GST on bet value in casinos and online gaming platforms is now under the Supreme Court’s lens. At the heart of the case is whether GST should be levied on the entire face value of the bet — or […]
Read More23 Jul, 2025
GST scrutiny on UPI payments: A growing concern for small businesses With the GST regime pushing for digital formalisation, UPI transactions have become a visible trail for tax officers. But the growing GST scrutiny on UPI payments—especially for small traders—has triggered concerns of overreach and a return to cash-based dealings. A July 2025 SBI research […]
Read More23 Jul, 2025
Auto Demand in India: Why Tax Cuts and Rate Drops Aren’t Enough Despite recent income tax cuts, RBI’s lending rate easing, and favourable monsoon conditions, India’s auto sector hasn’t seen the sales revival many expected. A new report suggests consumer demand remains muted even as economic and policy indicators look supportive. Let’s break down the […]
Read More23 Jul, 2025
Refund relief for small taxpayers: What the panel recommends A key Parliamentary Standing Committee has recommended refund relief for small taxpayers who miss the due date for filing their Income Tax Return (ITR). If accepted by the CBDT, this proposal could bring big relief to lakhs of individual filers and MSMEs who lose out on […]
Read More22 Jul, 2025
GST Rate Confusion Hits the Textile Sector The textile industry seeks uniform GST rate to simplify tax compliance and reduce classification disputes. This fragmented structure has led to compliance hurdles, frequent notices, and cash flow mismatches for MSMEs and exporters. Current GST Rates in the Textile Sector Item GST Rate Cotton fibre, yarn, fabric 5% […]
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