31 Jul, 2025
India Faces 25% US Tariffs: Impact on Trade & Compliance India is back in Washington’s crosshairs. Starting August 1, 2025, the United States will impose 25% tariffs on select Indian goods — citing “friendship misuse” and India’s continued purchase of Russian oil. But beyond geopolitics, what does this mean for Indian exporters, tax reporting, and […]
Read More31 Jul, 2025
What Is Tax Audit under Section 44AB? Tax Audit under Section 44AB of the Income-tax Act, 1961 is a mandatory compliance for certain businesses and professionals based on turnover, gross receipts, or presumptive taxation rules. ICAI released a revised Guidance Note in 2025, clarifying the audit procedures and documentation standards for Chartered Accountants. If your […]
Read More30 Jul, 2025
Income Tax crackdown on bogus refund claims: What you must know With the filing deadline for AY 2025–26 fast approaching, the Income Tax Department has intensified its crackdown on bogus refund claims. From AI-driven scrutiny to real-time TDS validation, the system is now aggressively flagging suspicious refund filings — especially those with fabricated deductions, inflated […]
Read More30 Jul, 2025
GST Slabs Simplification and Rate Cuts: What’s Coming in August? With the 54th GST Council Meeting expected next month, the government may finally move toward a two-rate structure and rationalise items across slabs. Here’s what it could mean for your business and tax planning. Why GST Slabs Simplification Matters India currently follows a multi-rate GST […]
Read More30 Jul, 2025
Income Tax Portal Downtime During ITR Filing Season Income Tax Portal downtime during the peak ITR filing season is a recurring concern for lakhs of Indian taxpayers. Delays, glitches, and login issues can disrupt filings, trigger penalties, and waste precious manhours. Why It Matters During Peak ITR Season When the ITR due date approaches—especially for […]
Read More30 Jul, 2025
RBI Draft Master Direction on Digital Banking Channels The RBI has released a Draft Master Direction on Digital Banking Channels to streamline how banks and NBFCs offer digital services. This move aims to create a single regulatory framework for mobile apps, internet banking, UPI, and future digital innovations. It is now open for public feedback […]
Read More30 Jul, 2025
India GDP Growth Forecast FY26: Finance Ministry Estimate India’s GDP growth forecast for FY26 is pegged at 6.2–6.5%, according to the Union Finance Ministry’s latest economic assessment. Despite global economic uncertainty, India’s domestic demand, investment push, and stable macro indicators are expected to drive this growth. Why the India GDP Growth Forecast for FY26 Matters […]
Read More30 Jul, 2025
DGFT Notifies Three New SIONs for Chemical Exports The Directorate General of Foreign Trade (DGFT) has notified three new Standard Input Output Norms (SIONs) for products under the Chemical and Allied Product Group. These SIONs define how much input material is allowed for a specific quantity of export product. Exporters dealing with these items must […]
Read More30 Jul, 2025
GST Collection Shows Double-Digit Growth in April–June 2025 India’s GST collection has recorded double-digit growth in Q1 FY 2025–26, as confirmed by Finance Minister Nirmala Sitharaman. This jump reflects rising consumption, improved compliance, and digital enforcement under GST 2.0 initiatives. Key Highlights of April–June 2025 GST Growth Month Gross GST Collection Year-on-Year Growth April 2025 […]
Read More30 Jul, 2025
AEO Certificates in India: Trade Boost via CBIC’s 5,800+ Approvals The CBIC has issued over 5,800 Authorised Economic Operator (AEO) certificates in India to exporters and importers. This move aims to fast-track customs clearance and simplify trade compliance—crucial for India’s export growth and logistics efficiency. Let’s break down what the AEO program means, how it […]
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