07 Jan, 2025
GIFT Nifty’s Role in Market Dynamics The GIFT Nifty, traded on the NSE International Exchange in GIFT City, Gujarat, is emerging as a crucial barometer for Indian stock market trends. Its transition from SGX Nifty in 2023 signaled India’s push to reclaim offshore financial activity, and its impact on market prediction and investor sentiment continues […]
Read More07 Jan, 2025
On December 18, 2024, the GST authority imposed a penalty of ₹1,11,94,324 on pharmaceutical giant Cipla Ltd for allegedly availing inadmissible transitional credit (TRAN-1). This penalty has sparked widespread attention, not only due to its size but also because it highlights critical compliance challenges under India’s Goods and Services Tax (GST) framework. Cipla, however, has […]
Read More07 Jan, 2025
Overview of Indo Farm Equipment IPO Listing Indo Farm Equipment, a leading manufacturer in the agricultural equipment industry, debuted on the stock exchanges today, January 6, 2025. While the IPO saw a strong opening, its performance on the listing day sparked mixed reactions among investors. Listing Performance: NSE and BSE While these figures represent decent […]
Read More07 Jan, 2025
Tax compliance in India has undergone significant transformations with new legal rulings, updated regulations, and emerging challenges. Understanding these changes is crucial for taxpayers, businesses, and professionals to navigate the complex tax landscape. In this blog, we explore recent developments, provide insights into key case laws, and offer practical tips to ensure compliance. Recent Tax […]
Read More07 Jan, 2025
Nifty’s Decline and FPI Exodus: A Deep Dive into Market Turbulence The Indian stock market, led by the Nifty 50 index, has faced significant headwinds in recent months. With the index experiencing a steep decline of approximately 10% from its peak in September 2024, the market seems to be undergoing a phase of correction. Adding […]
Read More06 Jan, 2025
Provisions on Limitation: A Lifeline for Taxpayers Facing Genuine Hardships In a landmark decision, the Hon’ble Calcutta High Court in Shruti Iron (P.) Ltd. v. Assistant Commissioner, State Tax (WPA No. 26637 of 2024, December 04, 2024) offered relief to a taxpayer by quashing an appellate order dismissing an appeal on limitation grounds. This case […]
Read More06 Jan, 2025
Introduction: The Complex Web of GST When the Goods and Services Tax (GST) was introduced in India, it was celebrated as a “good and simple tax.” However, seven years later, its labyrinth of rates, exemptions, and compliances has left many manufacturers and businesses struggling. Recent debates around varying GST rates—such as the controversial tax rates […]
Read More06 Jan, 2025
Introduction In a proactive move to address disruptions caused by technical glitches in the e-way bill system, taxpayers and transporters are granted additional time to extend expired e-way bills. This advisory provides a detailed guide on the updated provisions, ensuring seamless compliance for businesses impacted by the issue. What Happened? On 31st December 2024, the […]
Read More06 Jan, 2025
Introduction India’s Goods and Services Tax (GST) regime continues to evolve, reflecting the government’s commitment to modernization, transparency, and economic growth. The year 2024 witnessed key reforms, including new compliance measures, rate revisions, and anti-evasion initiatives. As businesses prepare for 2025, understanding the changes and adapting accordingly is essential. Key GST Updates of 2024 1. […]
Read More06 Jan, 2025
For the first time, Punjab’s tax revenue has crossed the ₹30,000-crore mark in the first nine months of a fiscal year, heralding a new chapter in the state’s financial management. Finance Minister Harpal Singh Cheema announced that the state’s tax collection from April to December 2024 reached an impressive ₹31,156.31 crore, a sharp rise from […]
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