22 Mar, 2025
Struggling with GST Waiver Forms? Here’s What You Need to Know Taxpayers across India have reported GST waiver issues while filing applications under the special amnesty scheme via forms SPL 01 and SPL 02. With the deadline for tax payments fast approaching, addressing these problems is crucial to avoid penalties and interest. Here’s a user-friendly […]
Read More20 Mar, 2025
Introduction India has long been the top recipient of global remittances, with millions of overseas workers sending money home. However, the Reserve Bank of India’s (RBI) March 2025 Bulletin highlights a crucial shift: remittances from advanced economies (like the US and UK) have surpassed those from Gulf nations. This shift signals changing migration patterns and […]
Read More20 Mar, 2025
Introduction In recent years, India has witnessed a significant shift in household savings from traditional assets like fixed deposits and gold to financial markets. This transition has been driven by higher returns, increased financial literacy, and digital investment platforms. However, a recent report from the Finance Ministry highlights potential risks associated with this trend, raising […]
Read More20 Mar, 2025
Introduction The Indian stock market is off to a strong start, with the Nifty 50 surpassing the 23,000 mark, a level last seen on February 19, 2025. This bullish momentum signals renewed investor confidence, with key indices like Sensex and Nifty Bank also opening higher. The IT and banking sectors are driving the rally, reflecting […]
Read More19 Mar, 2025
To promote the adoption of digital payments, the Indian government has extended the Incentive Scheme for Low-Value BHIM-UPI Transactions (P2M) for another year, from April 1, 2024, to March 31, 2025. With an outlay of ₹1,500 crore, this scheme aims to encourage small merchants to accept digital payments without financial burden. What is the BHIM-UPI […]
Read More19 Mar, 2025
Introduction Starting April 1, 2025, the Input Service Distributor (ISD) mechanism under the GST system will become mandatory. This major shift ensures the fair allocation of input tax credit (ITC) across multiple locations of a business, preventing tax disputes and enhancing compliance. This change follows an amendment in the CGST Act under the Finance Act […]
Read More19 Mar, 2025
Introduction In a landmark ruling, the Supreme Court of India has placed critical restrictions on the power of tax authorities to make arrests under the Customs Act, 1962, and the Central Goods and Services Tax (CGST) Act, 2017. This decision introduces procedural safeguards to prevent arbitrary arrests and ensures adherence to constitutional protections. The Supreme […]
Read More19 Mar, 2025
Introduction The 28% GST on online gaming has ignited one of India’s most significant tax disputes, with a ₹2.5 lakh crore financial impact at stake. The Supreme Court is set to hear arguments on whether skill-based gaming platforms like poker, rummy, and fantasy sports should be taxed similarly to gambling. The verdict will influence regulatory […]
Read More19 Mar, 2025
Introduction In a significant ruling, the Allahabad High Court has clarified that under Section 129 of the GST Act, the burden to prove the actual movement of goods lies on the assessee in summary proceedings. This decision reinforces the requirement for businesses to maintain proper documentation and transparency in GST compliance. Key Highlights of the […]
Read More19 Mar, 2025
Introduction To counter the surge in steel imports, India’s Directorate General of Trade Remedies (DGTR) has proposed a 12% safeguard duty on imported flat steel products for 200 days. This move aims to protect domestic steel manufacturers from price pressures and excessive foreign competition. The Finance Ministry is expected to review the recommendation within 15 […]
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