17 Jul, 2025
GST on Small Traders: What Karnataka Protest Reveals Over 65,000 small traders across Karnataka—running bakeries, tea shops, condiments stores, and petty stalls—are gearing up for a statewide bandh on July 25, 2025. The trigger? GST demand notices based on digital payment data allegedly showing turnovers beyond the ₹40 lakh threshold for mandatory GST registration. This […]
Read More17 Jul, 2025
Target-Based Incentives Not a Taxable Service Under Old Law A recent CESTAT ruling dated 2 July 2025 has brought major relief to car dealers by holding that target-based incentives and discounts from manufacturers are not taxable as ‘Business Auxiliary Services’ under the pre-GST Finance Act, 1994. This case involved Vipul Motors, a dealer who received […]
Read More17 Jul, 2025
India’s Tax Collection Drop: Temporary Dip or Deeper Issue? Tax collection dip not a concern — that’s the message from a senior government source after a 1.39% fall in gross tax revenue for April–June 2025, totalling ₹4.59 lakh crore. Despite the dip, officials expect a 5–6% rise in tax collection by September 2025. Let’s break […]
Read More17 Jul, 2025
Section 80M Reintroduced in Income Tax Bill 2025: What It Means for Indian Corporates Section 80M is back—and this time, it may help thousands of Indian companies save big on taxes. The Income Tax Bill 2025, soon to be tabled in the Lok Sabha, includes a key amendment proposed by a parliamentary panel: the reintroduction […]
Read More17 Jul, 2025
Received Foreign ESOPs? Disclose in ITR or Risk ₹10 Lakh Penalty If you’re a Resident and Ordinarily Resident (ROR) in India and have received ESOPs from a foreign company, you must report them in your ITR under the Foreign Asset Schedule. Failing to do so—even if you’re just holding and not selling—can trigger a penalty […]
Read More17 Jul, 2025
Fake Tax Deduction Claims Under Scrutiny: The Taxman’s Red Flag The Income Tax Department has intensified its crackdown on fake tax deduction claims, especially among employees of MNCs, PSUs, and government departments. With improved data analytics and TDS cross-verification, inflated refund claims are now triggering automated scrutiny notices. If you’ve overstated Section 80C investments, fake […]
Read More17 Jul, 2025
Summary The Delhi VAT Amnesty Scheme 2025 offers traders a chance to settle pre-GST VAT dues with major waivers. With ₹85,000 crore in arrears across 3 lakh+ cases, this move aims to ease business and boost state revenue. Delhi VAT Amnesty Scheme 2025: What Traders Must Know These are legacy tax liabilities from the pre-GST […]
Read More16 Jul, 2025
GST Limitation Extension Under Section 168A Declared Invalid by Madras High Court The Madras High Court has struck down GST Notifications 9/2023 and 56/2023 issued under Section 168A of the CGST Act. These notifications, which extended the limitation period for tax proceedings under Section 73, were declared ultra vires due to lack of legal basis […]
Read More16 Jul, 2025
GST Appeal Filing Against SPL-07 Orders: What Taxpayers Must Know The GST appeal filing against SPL-07 orders is now active on the GST Portal from 16 July 2025, as per GSTN Advisory No. 615. Taxpayers who received rejection orders (SPL-07) under the amnesty-like waiver scheme can now file Form APL-01 appeals online. Background: Waiver Scheme […]
Read More16 Jul, 2025
Himachal Pradesh Borrowing Limit: What the CM’s Request Means for State Finances In a recent meeting with Union Finance Minister Nirmala Sitharaman, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu urged the Centre to increase the state’s borrowing limit under the FRBM Act. This move highlights growing fiscal pressure on hill states and raises important questions […]
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