17 Jul, 2025
India’s Rising Imports Trigger Dumping Alarm India’s import surges have drawn close government attention in Q1 of FY 2025–26, as inbound trade touched $179.44 billion — a 4.2% jump year-on-year (source: CNBC-TV18). This sudden spike has sparked concern across ministries, especially about dumping threats that can undercut domestic manufacturers. The Ministry of Commerce has issued […]
Read More17 Jul, 2025
Introduction:Income Tax Bill 2025 is set to overhaul India’s 60-year-old tax law. A key recommendation from a Parliamentary panel seeks to give Income Tax authorities powers under the Civil Procedure Code, allowing them to summon, examine, and enforce compliance like a court. Here’s why this matters for taxpayers and consultants. Why Stronger Powers Are Being […]
Read More17 Jul, 2025
Intro:The Income Tax department has used AI to detect fake capital gains deduction in a Hyderabad case. The taxpayer had claimed ₹68.7 lakh under “cost of improvement” using suspicious old bills, which were exposed as forged through font-based forensic analysis. AI exposes fake capital gains claim: What happened? A Hyderabad taxpayer sold a property for […]
Read More17 Jul, 2025
Bengaluru’s small vendors ditch UPI over GST fears The rise of “No UPI, Only Cash” signs in Bengaluru isn’t just a tech hiccup — it’s a clear signal of a deeper issue: tax anxiety. Despite UPI’s unmatched success in India’s digital payment revolution, many small vendors in the IT capital are retreating from digital modes […]
Read More17 Jul, 2025
Online Gaming GST Case: Supreme Court Debate Explained The keyphrase “Online Gaming GST case” sits at the centre of a major Supreme Court hearing on July 17, 2025. Gaming companies like Gameskraft and Dream11 argue they offer a service—not gambling or betting—making the 28% GST levy unjustified. At stake? A booming ₹19,000 crore industry and […]
Read More17 Jul, 2025
Summary India’s Income Tax Bill, 2025 proposes 285 changes to modernise the 1961 Act. It aims to simplify tax compliance, reduce litigation, and take effect from April 1, 2026, without altering current tax rates. Introduction: What is the Income Tax Bill 2025? The Income Tax Bill 2025 is the government’s ambitious step to replace the […]
Read More17 Jul, 2025
GST Rate Rationalisation May Finally Get Green Light in August 2025 After an 8-month pause since the last meet in December 2024, the Council may finally take up structural reforms, starting with tax slab simplification and changes to GST on insurance. Let’s break down what taxpayers and businesses should expect. What is GST Rate Rationalisation? […]
Read More17 Jul, 2025
GST Credit Denial Invalid Without Online Revision Option: Bombay HC Rules in Favour of Taxpayer In a major relief for GST transition cases, the Bombay High Court has ruled that GST credit denial cannot be justified solely because the taxpayer couldn’t file revised returns electronically. The judgment reinforces a core principle—substance over procedure—when technical systems […]
Read More17 Jul, 2025
GST on Small Traders: What Karnataka Protest Reveals Over 65,000 small traders across Karnataka—running bakeries, tea shops, condiments stores, and petty stalls—are gearing up for a statewide bandh on July 25, 2025. The trigger? GST demand notices based on digital payment data allegedly showing turnovers beyond the ₹40 lakh threshold for mandatory GST registration. This […]
Read More17 Jul, 2025
Target-Based Incentives Not a Taxable Service Under Old Law A recent CESTAT ruling dated 2 July 2025 has brought major relief to car dealers by holding that target-based incentives and discounts from manufacturers are not taxable as ‘Business Auxiliary Services’ under the pre-GST Finance Act, 1994. This case involved Vipul Motors, a dealer who received […]
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