Banks Curb Credit Card Issuances Amid Rising Delinquencies

03 Nov, 2024

Introduction As the festive season unfolds, credit card issuances by banks are taking a significant hit due to rising delinquencies in the unsecured lending segment. Amid the surge in festival spending, banks have adopted a cautious stance, resulting in a sharp decline in new credit card disbursements. This trend reflects growing concerns over increasing default […]

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ChatGPT Search vs Google: A Shift in Informational Searches

03 Nov, 2024

In a digital world dominated by Google Search, it’s hard to imagine a contender that could challenge its supremacy. However, recent updates to the ChatGPT search feature seem to be altering this landscape. This blog delves into the competition between Google and OpenAI’s ChatGPT Search, offering insights into why Google might need to look over […]

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October GST Collections See Healthy Rise Despite Slower Consumer Spending

01 Nov, 2024

October 2024 saw Goods and Services Tax (GST) collections in India reach Rs 1.87 lakh crore, reflecting an 8.9% year-on-year growth compared to the same month in 2023. While these collections stayed above Rs 1.7 lakh crore for the eighth consecutive month, they also marked a six-month high, showcasing resilience in India’s economic activity amid […]

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Temporary Suspension of Business Activity Doesn’t Justify GST Registration Cancellation: Delhi High Court

30 Oct, 2024

Introduction In a significant ruling that upholds taxpayer rights, the Delhi High Court recently emphasized that a temporary suspension of business activity due to health reasons cannot justify the cancellation of GST registration. This judgment is a crucial step towards ensuring that tax authorities exercise their powers reasonably and do not unfairly impact taxpayers’ livelihoods. […]

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GST Return Filing Now Barred After Three Years from Due Date

30 Oct, 2024

The Goods and Services Tax (GST) department has introduced a significant rule change: taxpayers will no longer be able to file their GST returns after a three-year period from the original due date. This update applies to returns such as GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8, and GSTR-9. The new policy is set […]

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Nearly 50 More Offshore Firms Register for GST

30 Oct, 2024

Introduction In recent months, an additional 40-50 offshore entities have registered with Indian GST authorities following investigations into tax non-compliance related to Online Information and Database Access or Retrieval (OIDAR) services. This development is expected to boost GST revenue by several hundred crores, according to official sources. The ongoing initiative is part of a broader […]

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Massive Rs 8,000 Crore GST Scam Involves 246 Fake Companies Across 13 States

29 Oct, 2024

Introduction A shocking GST scam worth between Rs 5,000 crore and Rs 8,000 crore has surfaced. It involves 246 fake companies spread across 13 states in India. The alleged mastermind is a 50-year-old man named Asraf Ibrahim Kalawadiya from Surat. Authorities have arrested Kalawadiya in March 2024, and he is now in judicial custody. The […]

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No Personal Hearing Right if Not Requested: MP High Court Ruling

28 Oct, 2024

Madhya Pradesh High Court Dismisses Plea on GST Personal Hearing Denial In a recent ruling, the Madhya Pradesh High Court, Indore Bench, dismissed a petition filed by Future Consumer Limited. The petitioner challenged an order by the Deputy Commissioner of State Tax under Section 73 of the GST Act, claiming denial of the right to […]

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Manpower Supply to Foreign Clients in India Attracts GST

28 Oct, 2024

The Uttar Pradesh Authority for Advance Ruling (UPAAR) has ruled that supplying manpower to foreign clients for work in India does not qualify as an export of services and therefore attracts Goods and Services Tax (GST). This recent ruling has significant implications for businesses offering manpower supply services to foreign companies operating without a permanent […]

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Mangrove Afforestation Project Gets GST Exemption: Boost for Environmental Conservation

28 Oct, 2024

The Gujarat AAR’s decision is built on two fundamental findings:   Moreover, Furthermore, Additionally VCDRecognized as an initiative for public welfare, the   Moreover, Furthermore, Additionally projectIt is estimated to generate 38,500 person-days of work, benefiting around 210 rural families with 200 workdays annually. Nearly 80% of the   Moreover, Furthermore, Additionally […]

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