13 Jun, 2025
Intro:The recent tax drive exposes ₹1,400 crore political donation fraud, shaking the compliance landscape. Bogus Section 80GGC deductions claimed by shell entities and individuals have triggered a nationwide alert. Let’s break down how this scam worked, why it matters to genuine taxpayers, and what the law says. How the ₹1,400 Cr Scam Unfolded What Is […]
Read More13 Jun, 2025
Income Tax Dept Tightens Watch on High-Value Transactions The Income Tax Department is monitoring high-value transactions more closely in 2025 to tackle tax evasion. With better data analytics and third-party reporting, even small mismatches in ITR can now lead to scrutiny. If you’re filing returns this year, understanding what qualifies as a “high-value transaction” is […]
Read More13 Jun, 2025
GSTN Advisory Fix for SPL-01/02 Manual Payment Upload Issue The GSTN advisory on SPL-01/02 applications issued in June 2025 addresses a common issue: manual payment challans not auto-populating in the portal. Taxpayers applying for the Special Procedure under Rule 87B of CGST Rules are facing delays due to missing payment records. Here’s a simplified explanation […]
Read More12 Jun, 2025
United Breweries Gets ₹18.60 Cr GST Order GST Compliance in Focus The focus keyphrase “United Breweries GST order” has sparked attention among corporates and consultants alike. On 10 June 2025, United Breweries Limited received a GST demand of ₹18.60 crore from the Directorate General of GST Intelligence (DGGI), highlighting intensified scrutiny in the alcohol and […]
Read More12 Jun, 2025
Electric HEMMs in Mining Industry Pushes for GST Cut and Subsidies The mining industry is calling for subsidies and lower GST on electric HEMMs (Heavy Earth Moving Machinery) to accelerate green transition. With diesel-run HEMMs contributing significantly to mining emissions, stakeholders argue that financial incentives are essential to make electric alternatives viable and scalable. Why […]
Read More12 Jun, 2025
Corporate Credit Card Usage Rules RBI’s Crackdown on LRS Misuse The focus keyphrase corporate credit card usage rules has come under the scanner with the RBI directing banks to ensure stricter compliance. As of June 2025, banks are asking users of corporate credit cards to declare that they’ll use them strictly for business purposes. This […]
Read More12 Jun, 2025
Summary The Madras High Court has invalidated CBIC’s extension of limitation periods under Section 168A of the CGST Act for FY 2017–18 cases. This ruling has major implications for GST demands raised post the original time limit. Introduction CGST Section 168A notifications quashed — that’s the recent verdict of the Madras High Court which has […]
Read More12 Jun, 2025
GST ITC Denied for Late Filing of GSTR-3B Calcutta HC Orders Reconsideration in Light of Section 16(5) Input Tax Credit (ITC) is the backbone of the GST regime. But what happens if a taxpayer files GSTR-3B after the due date? Can ITC still be claimed? A recent Calcutta High Court judgment brings clarity to this […]
Read More12 Jun, 2025
What Is the Universal KYC System? India’s financial regulators, led by the Finance Minister (FM), are working on a Universal KYC system to simplify onboarding across the entire financial ecosystem—banks, NBFCs, mutual funds, insurers, and stock brokers. The goal is simple: No more repeating the same KYC process multiple times. This was one of the […]
Read More12 Jun, 2025
ASEAN FTA Duty Misuse What Copper Importers Need to Know Over 1,000 copper importers in India are now under the scanner for misusing ASEAN FTA duty exemptions, triggering a wave of investigations and demand notices by Indian Customs. This blog breaks down what went wrong, the legal basis of this crackdown, and how importers can […]
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