02 Oct, 2024
The Central Board of Indirect Taxes & Customs (CBIC) is currently assessing the possibility of merging two of the most debated Goods and Services Tax (GST) slabs—12% and 18%. This exercise is part of a broader initiative to rationalize the existing GST rate structure, which has been pending for over three years. As the conversation […]
Read More02 Oct, 2024
The Goods and Services Tax (GST) framework in India continues to evolve with new rules and clarifications, especially regarding place of supply and invoicing in complex transactions. One such critical update is the recent clarification provided by Circular No. 209/3/2024 – GST, dated June 26, 2024. This circular aims to clarify the rules around place […]
Read More02 Oct, 2024
GSTN e-Services App to Replace e-Invoice QR Code Verifier App: What You Need to Know With the rapid digitalization of tax processes, the Goods and Services Tax Network (GSTN) has been consistently evolving its tools and services to enhance taxpayer compliance. On October 1st, 2024, GSTN announced the launch of a new GSTN e-Services App […]
Read More02 Oct, 2024
India’s GST collections for September 2024 reached ₹1.73 lakh crore, growing by 6.5% year-on-year (YoY). This rise, while steady, marks the second month of single-digit growth and the slowest pace in 39 months. The data from the GST Network (GSTN) paints a nuanced picture of the current state of economic activity. Breakdown of GST Revenue […]
Read More30 Sep, 2024
CRED, a reward-based payments platform, has achieved a remarkable milestone by nearing Rs 2,500 crore in revenue for FY24 while significantly reducing its operating losses by 41%. The fintech unicorn, known for its innovative approach to payments and credit card rewards, has seen rapid growth in user adoption, revenue, and transaction volumes over the past […]
Read More30 Sep, 2024
In a significant relief to taxpayers and professionals, the Central Board of Direct Taxes (CBDT) has announced an extension of the deadline for filing audit reports under the Income-tax Act, 1961. The original deadline of September 30, 2024, has now been extended to October 7, 2024. This extension is expected to provide much-needed breathing room […]
Read More30 Sep, 2024
Flipkart’s Big Billion Days 2024: Key Trends, Insights, and Early Data Flipkart’s Big Billion Days 2024 sale is in full swing, marking one of the largest annual e-commerce events in India. With increasing customer demand, especially during the festive season, Flipkart continues to break new ground. The sale has seen a surge in popular categories […]
Read More28 Sep, 2024
As of October 1, 2024, several significant updates to the Public Provident Fund (PPF) rules will take effect. Whether you have a minor’s account, multiple PPF accounts, or you’re a Non-Resident Indian (NRI), these changes will impact your investment strategy. In this blog, we’ll break down the key updates and provide actionable insights to help […]
Read More24 Sep, 2024
In a significant move towards simplifying tax processes and reducing litigation, the Hon’ble Supreme Court recently disposed of 573 direct tax cases. This landmark action follows the revised monetary limits for filing tax appeals introduced in the Union Budget 2024-25. These measures are set to promote the government’s vision of ‘Ease of Living’ and ‘Ease […]
Read More24 Sep, 2024
The Institute of Chartered Accountants of India (ICAI) has announced a change in the schedule for the Chartered Accountants Final Examination, November 2024, in light of the Diwali (Deepavali) festival. This rescheduling affects both Group I and Group II exam dates, giving CA aspirants more time to prepare and celebrate the festival. This blog provides […]
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