20 Nov, 2024
The GST Fitment Committee has revisited the taxation of delivery charges levied by food delivery platforms like Swiggy and Zomato, following notices issued by the Directorate General of GST Intelligence (DGGI). The investigation questions whether delivery charges should be bundled with food supplies and taxed at a higher GST rate of 18%. This blog explores […]
Read More20 Nov, 2024
Crypto Fraud: A Digital Dystopia of Fake Tokens and Financial Losses The world of cryptocurrency has promised decentralised financial freedom, but with it comes a growing threat—fraudulent schemes targeting unsuspecting investors. In this blog, we uncover the layers of Crypto Tax Fraud scams, referencing legal actions, recent reports, and fraud prevention strategies to help protect […]
Read More20 Nov, 2024
The long-awaited Goods and Services Tax Appellate Tribunal (GSTAT), a specialised body to handle GST-related disputes, is nearing operationalisation. Revenue Secretary Sanjay Malhotra announced during the SBI Annual Business and Economic Conclave that GSTAT is in its final stages of setup and will begin functioning by the end of this financial year (FY25). This move […]
Read More19 Nov, 2024
India’s carbonated beverages market lags far behind its global counterparts in innovation and growth. Unlike countries like Thailand and the Philippines, which boast diverse low- and zero-sugar beverage options, India struggles to bring such products to the market. The reason? A staggering 40% GST rate, including the 28% GST and an additional 12% compensation cess, […]
Read More19 Nov, 2024
The GST Council’s 55th meeting, chaired by Finance Minister Nirmala Sitharaman, is set for December 21, 2024, in Jaisalmer, Rajasthan. Delayed due to state elections and the Winter Session of Parliament, this meeting will address key tax reforms, including rate rationalisation and insurance GST exemptions, aiming to balance revenue needs with consumer relief. Key Focus […]
Read More19 Nov, 2024
The Retailers Association of India (RAI) has urged the government to reconsider the price-based GST rates proposed by the GST Council’s Group of Ministers (GoM). The association argues that these changes could have far-reaching consequences for the retail sector, consumers, and India’s broader economic goals. What is Price-Based GST? The GoM has suggested shifting premium […]
Read More19 Nov, 2024
The Goods and Services Tax Network (GSTN) has rolled out a significant update aimed at improving the input tax credit (ITC) process. With the launch of the Invoice Management System (IMS) on October 1, 2024, GST-registered taxpayers can now better manage invoices and reduce disputes in ITC claims. This blog delves into the features of […]
Read More19 Nov, 2024
TDS Refund Form 71 is a crucial tool introduced by the Central Board of Direct Taxes (CBDT) to simplify the process of claiming refunds for TDS mismatches. This rule addresses a common issue where taxpayers face difficulties reconciling TDS credits in their income tax returns (ITR) with the amounts reflected in Form 26AS. This blog […]
Read More19 Nov, 2024
In the bustling streets of Bengaluru, where traffic and time are in a perpetual tug-of-war, a new player has entered the fray, promising to deliver your cravings in just ten minutes. swish food delivery, a startup with a mission to reduce the wait time for food to the bare minimum, has recently clinched a $2 […]
Read More19 Nov, 2024
The economic landscape of 2025 looks promising as the United Kingdom and India prepare to resume their stalled trade negotiations. This development isn’t just another chapter in the ongoing saga of international trade; it’s potentially the beginning of a strategic partnership that could reshape economic relations between the two nations. India-UK Trade Talks A Strategic […]
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