05 Feb, 2025
The GST Confusion Around Kerala’s Favourite Snacks Imagine relishing a crispy pazhampori (banana fritter) with evening chai, only to realise that it falls under the 18% GST bracket. Meanwhile, peanut chikki (a sweet candy made of jaggery and peanuts) enjoys a much lower 5% GST rate. This taxation disparity isn’t just limited to pazhampori. Other […]
Read More05 Feb, 2025
E-Filing Your Income Tax Return: A Step-by-Step Guide E-filing your income tax return (ITR) in India is now easier than ever. With the government’s push towards digitisation, taxpayers can conveniently file their returns online, ensuring accuracy and faster processing. Here’s a complete guide to help you navigate the e-filing process smoothly. Step 1: Log in […]
Read More04 Feb, 2025
GST Rate Rationalisation: A Step Towards Simplicity? The Indian GST system, introduced in 2017, was meant to simplify indirect taxation. However, its multi-tier rate structure—comprising 5%, 12%, 18%, and 28% slabs—has led to complexities. Recognising these challenges, the GST Council has initiated discussions to rationalise rates and streamline compliance. Current Status of GST Rate Rationalisation […]
Read More04 Feb, 2025
From Snack to Stalemate: The Great Popcorn Tax Debate India’s GST on popcorn has sparked widespread debate, grouping plain, salted, and caramelized variants under 5%, 12%, and 18% tax brackets, respectively. Intended to simplify taxation, the GST system now faces increased complexity, raising concerns about its efficiency and fairness. This article delves into the legal, […]
Read More04 Feb, 2025
Introduction Budget 2025 has arrived, and with it, a wave of new tax reforms that promise simplicity but come wrapped in layers of intricate changes. This year, taxpayers are facing forms with more sections, additional compliance requirements, and evolving deduction structures. But are these reforms truly simplifying tax filing, or are they adding more pieces […]
Read More04 Feb, 2025
Strong GST Revenue Performance in January 2025 India’s Goods and Services Tax (GST) revenue continued its growth streak, with net GST collections reaching ₹1.71 trillion in January 2025. This reflects an 11% year-on-year (YoY) increase, highlighting strong economic activity and improved tax compliance. Key figures from the January 2025 GST collection: Metric January 2025 (₹ […]
Read More04 Feb, 2025
India’s Manufacturing Growth Accelerates India’s manufacturing sector showed robust expansion in January 2025, as the HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 57.7, marking a six-month high. This significant growth signals resilience in the sector, driven by strong export demand, domestic orders, and job creation. Key Highlights from the PMI Data Factor Insight […]
Read More04 Feb, 2025
Introduction The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, lays out a strategic roadmap for economic growth, tax reforms, and infrastructural advancements. With a focus on middle-class relief, domestic manufacturing, and digital transformation, this budget aims to strengthen India’s economic resilience while ensuring fiscal stability. Here’s a deep dive into the key announcements […]
Read More03 Feb, 2025
GST Registration & Payment of Tax After Inspection Is Not Voluntary: Madras HC Ruling Case Background The Madras High Court recently ruled that GST registration and payment of tax following an inspection cannot be considered a voluntary act. The judgment was delivered in a case where a charitable trust operating a marriage hall was found […]
Read More03 Feb, 2025
The Rise of UPI in India’s Digital Economy In less than a decade, the Unified Payments Interface (UPI) has revolutionized India’s payment ecosystem, becoming the backbone of digital transactions. Launched in 2016 by the National Payments Corporation of India (NPCI), UPI allows instant money transfers between bank accounts via smartphones, eliminating the need for traditional […]
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