02 Aug, 2025
IntroductionThe Income Tax Bill has triggered discussions across professional bodies. One key pitch: recognising Company Secretaries as accountants in tax law. The Institute of Company Secretaries of India (ICSI) has formally urged the Finance Ministry to extend the legal status of “accountant” to CS professionals, currently restricted to Chartered Accountants and Cost Accountants. Why This […]
Read More02 Aug, 2025
Rs 100 Crore GST Fraud in Copper Trade: What You Must Know The recent bust of a ₹100 crore GST fraud in copper goods trade has once again exposed the growing misuse of fake invoices and shell firms in India’s indirect tax ecosystem. According to the DGGI (Directorate General of GST Intelligence), the accused created […]
Read More01 Aug, 2025
Offshore gaming firms are increasingly using crypto to evade tax in India, according to government officials. With online betting and casino platforms booming, many foreign entities are bypassing Indian tax laws by routing payments through cryptocurrencies and avoiding TDS and GST liabilities. Let’s break down the compliance risks, enforcement challenges, and what Indian taxpayers and […]
Read More01 Aug, 2025
GST System Downtime on 2nd August 2025: What Taxpayers Need to Know The Goods and Services Tax (GST) Network (GSTN) has officially announced a scheduled Disaster Recovery (DR) drill on Saturday, 2nd August 2025. During this period, the GST portal will not be available for any compliance activity, including return filing, registration, or e-way bill […]
Read More01 Aug, 2025
0.1% Concessional Guarantee Fee for NaBFID: Finance Ministry Notification Explained The Finance Ministry has notified a 0.1% concessional guarantee fee on government guarantees provided to the National Bank for Financing Infrastructure and Development (NaBFID). This blog breaks down the implications, eligibility, legal backing, and practical significance of this concessional fee for NaBFID-backed instruments. What is […]
Read More01 Aug, 2025
GST Collection July 2025: ₹1.96 Lakh Crore, What It Signals India’s GST collection in July 2025 touched ₹1.96 lakh crore — a 7.5% increase compared to July 2024. This sustained revenue momentum reflects both improved compliance and underlying consumption strength, even amidst inflationary pressures and monsoon-linked uncertainty. Key Highlights of July 2025 GST Revenue Component […]
Read More01 Aug, 2025
Early retirement for Customs Settlement Commission notified from April 2025 The government has notified early retirement provisions for the Chairman and Vice-Chairmen of the Customs & Excise Settlement Commission, with retrospective effect from 1 April 2025. This follows the abolition of the Commission under the Finance Act, 2025, replaced by Interim Boards for Settlement to […]
Read More01 Aug, 2025
What is the 8th Pay Commission? The 8th Pay Commission update is creating buzz among central government employees as the government has signalled progress in setting up the new pay revision panel. Once constituted, this commission will review salary structures, pension, and allowances for nearly 50 lakh employees and 65 lakh pensioners. What Will the […]
Read More01 Aug, 2025
ED PMLA Conviction Rate: Just 15 Convictions in 10 Years The Enforcement Directorate (ED) has filed 5892 cases under the Prevention of Money Laundering Act (PMLA) since 2015. But as per the Finance Ministry’s reply in the Rajya Sabha, only 15 cases have led to conviction in the last 10 years. This raises sharp questions […]
Read More01 Aug, 2025
GST Margin Scheme for Used Machinery Dealers: AAR Relief Explained This is a welcome relief for the second-hand goods market, where GST interpretation has long been confusing. What Is the GST Margin Scheme? This avoids double taxation and encourages resale markets. Key Conditions for Using Margin Scheme: Gujarat AAR Ruling Highlights Case: M/s. Pooja EnterpriseOrder […]
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