24 May, 2025
Input Tax Credit (ITC) on Destroyed Goods What You Must Know ITC on destroyed goods has been a hot topic in GST audits and departmental queries. Many businesses are unaware that GST law mandates reversal of ITC if inputs are used for manufacturing goods that are later destroyed, lost, or disposed of as per specified […]
Read More24 May, 2025
Intro:Issuance of summaries without proper SCN and detailed order is invalid under GST law. Recent High Court rulings have confirmed that merely issuing DRC-07 or tax summaries without issuing a proper Show Cause Notice (SCN) and speaking order violates the principles of natural justice. This blog explains why detailed communication is mandatory and how taxpayers […]
Read More24 May, 2025
ITC on Immovable Property Allowed Supreme Court Upholds Safari Retreats Ruling Input Tax Credit (ITC) on immovable property has long been a contentious issue in GST law. With the recent Supreme Court dismissal of the review petition in the Safari Retreats Private Limited vs Chief Commissioner of CGST case, a major clarification has emerged: builders […]
Read More24 May, 2025
India’s Engineering Exports See 11.28% Surge in April 2025Engineering goods exports from India touched $9.51 billion in April 2025, marking an impressive 11.28% year-on-year growth, as per the latest data from the Engineering Export Promotion Council (EEPC India). This uptick highlights strong demand recovery and improved competitiveness of Indian manufacturers in global markets. What’s Driving […]
Read More24 May, 2025
GST evasion racket in UP’s Sambhal Key facts decoded In a major crackdown, the Directorate General of GST Intelligence (DGGI) has busted a GST evasion racket in UP Sambhal, arresting two individuals for creating fake firms and availing fraudulent Input Tax Credit (ITC). This blog simplifies the case, explains the GST implications, and helps businesses […]
Read More24 May, 2025
Hindustan Zinc Gets ₹1.8 Cr Tax Penalty What You Need to Know This move by the Income Tax Department has raised important questions around corporate tax compliance, especially for listed companies with significant government stakes. Let’s break it down for Indian taxpayers, professionals, and business owners. Why Was Hindustan Zinc Penalised? According to the disclosure […]
Read More24 May, 2025
Supreme Court Verdict Rocks Bhushan Power Takeover — What’s the Tax Impact? In a landmark judgment, the Supreme Court recently annulled the ₹19,350 crore JSW Steel acquisition of Bhushan Power & Steel under the IBC framework. This ruling, which rewrites one of India’s biggest insolvency resolutions, has left tax professionals, lenders, and corporate groups asking […]
Read More24 May, 2025
Introduction One-time LTCG set off is now permitted under the Draft Income Tax Bill, 2025. Starting tax year 2026–27, taxpayers will be allowed to set off long-term capital losses (LTCL) against short-term capital gains (STCG) — a major shift from the old law under the Income-tax Act, 1961. Let’s break down what this means, why […]
Read More23 May, 2025
Are Bangladesh Import Curbs Impacting Tripura Consumers? The recent Bangladesh import curbs imposed by India raised concerns of rising prices and supply disruptions in border states like Tripura. However, ground reports from traders suggest that the impact on local consumers is minimal—at least for now. This blog breaks down the legal and trade implications of […]
Read More23 May, 2025
India’s Economy Likely Grew 6.4–7.2% in Q4 FY25 India’s economy is projected to have expanded between 6.4% and 7.2% in Q4 FY25, according to early government estimates and expert analyses. This marks another strong quarter driven by manufacturing gains, government capex, and resilient services—despite global headwinds. Key Drivers of Q4 FY25 GDP Growth What Official […]
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