26 Feb, 2025
Introduction The Supreme Court is set to decide whether the time limit for adjudicating a show cause notice (SCN) and passing an order can be extended via government notifications issued under Section 168A of the GST Act. This provision empowers the Government to extend time limits under special circumstances such as force majeure. The case […]
Read More26 Feb, 2025
Can the Government Extend GST Show Cause Notice Deadlines? The Supreme Court of India is set to decide whether the government can extend the time limit for adjudicating show cause notices (SCNs) under Section 73 of the GST Act by issuing notifications under Section 168A. This provision allows the government to extend time limits during […]
Read More26 Feb, 2025
Introduction The Reserve Bank of India (RBI) has announced a significant adjustment in risk weights for bank loans to Non-Banking Financial Companies (NBFCs) and microfinance institutions (MFIs). Effective April 1, 2025, the risk weight will be reduced from 125% to 100%, reversing the increase implemented in November 2023. This move is expected to reduce borrowing […]
Read More26 Feb, 2025
Introduction Meta Platforms is reportedly in discussions for a massive $200 billion investment in a new AI-focused data center campus. If confirmed, this would mark one of the largest technology infrastructure projects in history. The initiative underscores Meta’s ambition to dominate AI research and cloud computing, but it also raises key questions about power consumption, […]
Read More25 Feb, 2025
Introduction India and the United Kingdom have embarked on a significant journey to strengthen their economic ties through a proposed Free Trade Agreement (FTA). This initiative aims to more than double bilateral trade within the next decade, fostering growth and collaboration between the two nations. Key Objectives of the India-UK FTA Potential Impact on Bilateral […]
Read More25 Feb, 2025
Delhi HC Quashes ₹2,000 Crore Tax Reassessment Against Maruti Suzuki In a significant ruling, the Delhi High Court quashed a ₹2,000 crore income tax reassessment notice issued to Maruti Suzuki India Ltd. (MSIL) for the Assessment Year (AY) 2009-10. The Court held that the notice, issued by the Deputy Commissioner of Income Tax (DCIT) on […]
Read More25 Feb, 2025
Introduction India, the world’s second-largest gold consumer, is witnessing an unprecedented drop in gold imports. In February 2025, imports are expected to plummet by 85% compared to the previous year, marking the lowest level in two decades. This decline is primarily driven by record-high gold prices, which have deterred both retail and wholesale buyers, even […]
Read More25 Feb, 2025
Introduction Crypto trading in India has seen an unprecedented surge, particularly in smaller cities and towns. With limited job opportunities and income stagnation, individuals are exploring cryptocurrency as an alternative financial avenue. According to reports, trading volumes on major crypto exchanges reached $1.9 billion in Q4 2024, highlighting the growing traction of digital assets in […]
Read More25 Feb, 2025
Introduction The Kerala High Court has ruled that issuing a consolidated GST show cause notice (SCN) for multiple financial years prejudices the assessee by restricting their ability to respond effectively. The limitation period for adjudication gets pegged to the earliest year mentioned in the notice, leading to potential legal disadvantages. This ruling clarifies the adjudication […]
Read More25 Feb, 2025
RBI’s Move to Ease Withdrawal Limits at New India Co-op Bank The Reserve Bank of India (RBI) has permitted depositors of New India Co-operative Bank, Mumbai, to withdraw up to ₹25,000 from their accounts starting February 27, 2025. This move will benefit over 50% of the bank’s depositors, allowing them to access their full savings. […]
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