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Razorpay to Pay ₹1,245 Crore in Taxes for Domicile Shift: Fintech giant Razorpay has reportedly agreed to pay ₹1,245 crore in taxes following its decision to shift its domicile to…
UPI Transactions Surge 44% YoY in May 2025: Unified Payments Interface UPI transactions in India surged by a remarkable 44% year-over-year in May 2025, reaching an unprecedented…
Supreme Court Directs POSH Act Compliance: The Supreme Court of India has issued a directive requiring all States and Union Territories UTs to file affidavits detailing their…
The Delhi High Court reiterated that GST disputes over alleged fraudulent Input Tax Credit ITC must follow the statutory appeal mechanism rather than writ jurisdiction. The court…
The Delhi High Court directed a GST dispute to the statutory appeal process after noting procedural issues weren't raised during initial hearings. The court reiterated that writ…
The Delhi High Court ruled that unexplained credit provisions Section 68 do not apply to pre-April 2023 unsecured loans if properly recorded in books, providing clarity on Section…
The Delhi High Court limited the benefits of Form 10-IC condonation only to companies opting for the Section 115BAA tax rate, dismissing a broader interpretation petition. The…
The Reserve Bank of India RBI expanded the eligibility criteria for 'stripping' and 'reconstituting' government securities STRIPS , allowing more participants in this market…
The Income Tax Appellate Tribunal ITAT has provided significant relief to Skyline Builders, allowing them the Section 80-IBA deduction. The tribunal classified Skyline Builders as…
In a move to streamline export procedures and bolster India's traditional medicine industry in global markets, the Directorate General of Foreign Trade DGFT has officially…
The Delhi High Court ruled that AWS cloud computing fees aren't taxable as equipment royalty under the India-US tax treaty, providing clarity on digital service taxation. The…
The Delhi High Court ruled that full recovery claims for liquidated damages require proof of actual loss, preventing automatic compensation without evidence. This decision impacts…
The Finance Ministry adjusted import duties on edible oils including refined palm oil, palmolein, and soyabean oil and extended exemptions for yellow peas to stabilize domestic…
The Delhi High Court dismissed a GST appeal review petition, reaffirming that delays in Section 107 appeals cannot be condoned beyond the statutory limit. The court maintained a…
Defence Minister Rajnath Singh praised UPI as a "game-changer" and hailed GST as a model of national economic integration at the CII Business Summit 2025. He highlighted how…
The Central Board of Direct Taxes CBDT has included Sikkim under Section 80-IE, allowing tax deductions for businesses in the state via a corrigendum. This amendment extends…
The Reserve Bank of India RBI expanded the eligibility criteria for 'stripping' and 'reconstituting' government securities STRIPS , allowing more participants in this market…
ITAT upheld additions for alleged bogus purchases in a hawala transaction case due to the taxpayer's failure to provide rebuttal evidence. The ruling reinforces tax authorities'…
The Income Tax Appellate Tribunal ITAT ruled that goodwill depreciation remains allowable under income tax laws, setting aside an order that disallowed it based on Ind AS…
Finance Minister Nirmala Sitharaman urged tax officials to uphold trust and transparency while addressing GST registration complaints. She emphasized the importance of taxpayer…
LGT Wealth's Chirag Doshi Recommends 5-10 Year Indian Bonds: Chirag Doshi of LGT Wealth has recommended investing in 5-10 year Indian bonds, anticipating potential interest rate…
RBI Imposes ₹54.78 Crore Penalties on Banks and NBFCs for FY25 Lapses: The Reserve Bank of India RBI has imposed cumulative penalties totaling ₹54.78 crore on various banks and…
GST Collections Remain Above ₹2 Trillion for Second Consecutive Month: India's Goods and Services Tax GST collections have demonstrated remarkable resilience, remaining above the…
Builder.ai, DailyHunt Parent Face $60M Round-Tripping Allegations: Builder.ai and DailyHunt parent Verse Innovation are reportedly facing serious allegations of engaging in a $60…
The Madras High Court directed re-assessment in a GST input mismatch case where no details or hearing were provided, subject to a deposit. While dismissing a writ petition…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT quashed an excise duty demand on BMW India, stating that the post-clearance fitment of fuel adaptors does not qualify…
The Maharashtra Appellate Authority of Advance Ruling AAAR ruled that Rotary Club membership and admission fees are not taxable under GST. The tribunal classified these fees as…
BNP Paribas Rebalances Indian Investment Portfolio: French financial services major BNP Paribas has strategically rebalanced its Indian investment portfolio, acquiring a…
Razorpay to Pay ₹1,245 Crore in Taxes for Domicile Shift: Fintech giant Razorpay has reportedly agreed to pay ₹1,245 crore in taxes following its decision to shift its domicile to…
UPI Transactions Surge 44% YoY in May 2025: Unified Payments Interface UPI transactions in India surged by a remarkable 44% year-over-year in May 2025, reaching an unprecedented…
TVS Leads May 2025 EV 2W Sales, Bajaj Narrows Gap: In the fiercely competitive Indian electric two-wheeler market, TVS has maintained its lead in May 2025 sales, with Bajaj Auto…
EaseMyTrip Reports 15% Revenue Decline in Q4 FY25: Online travel aggregator EaseMyTrip has reported a 15% decline in its revenue for the fourth quarter of fiscal year 2025. This…
A2Z Infra Engineering Ltd faced a ₹5.19 crore GST demand, including a penalty of ₹3.53 crore, due to alleged credit note discrepancies for the period FY 2017-18 to FY 2019-20. The…
GSTN has mandated separate HSN-wise reporting for B2B and B2C transactions in GSTR-1, effective April 1, 2025. The new rule, an update to Table 12 of Form GSTR-1, enhances…
Finance Minister Nirmala Sitharaman urged tax officials to uphold trust and transparency while addressing GST registration complaints. She emphasized the importance of taxpayer…
Delhi HC Warns Against False Rape Complaints: The Delhi High Court has issued a stern warning against the increasing trend of false rape complaints, emphasizing that such cases…
Rajasthan HC Sets Aside Arbitration Award for Illegality: The Rajasthan High Court has set aside an arbitration award that granted compensation contrary to the specific terms of…
Andhra Pradesh HC: False Criminal Cases Amount to Cruelty: The Andhra Pradesh High Court has ruled that the act of filing false criminal cases against a husband with the intention…
Supreme Court Directs POSH Act Compliance: The Supreme Court of India has issued a directive requiring all States and Union Territories UTs to file affidavits detailing their…
NCLT Delhi Rules on Lease Rent as Operational Debt: The National Company Law Tribunal NCLT in Delhi has issued a significant ruling clarifying that non-payment of outstanding…
The Supreme Court is currently hearing an appeal against the National Company Law Appellate Tribunal's NCLAT judgment in the Byju's insolvency case. This appeal is anticipated to…
The NCLT Delhi has ruled that corporate applicants cannot utilize the Corporate Insolvency Resolution Process CIRP under the IBC to avoid legally recoverable government dues,…
The Madras High Court has declined to quash a GST show-cause notice SCN based on an unshared verification report, but crucially, it directed the department to provide the said…
The Madras High Court has reiterated that repeated GST notice uploads on the portal without ensuring actual taxpayer receipt do not constitute valid service. The court mandated…
The National Company Law Appellate Tribunal NCLAT has permitted the Committee of Creditors CoC to conduct a second challenge process even after declaring a highest bidder in an…
The Madras High Court has upheld the validity of a Goods and Services Tax GST rule, rejecting challenges that it was ultra vires or violated constitutional provisions. This…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT has disallowed belated amendments to bills of entry for claiming Countervailing Duty CVD exemption after a period of…
The Income Tax Appellate Tribunal ITAT has allowed Punjab National Bank PNB to claim club membership fees as a legitimate business expense under Section 37 of the Income Tax Act.…
The Income Tax Appellate Tribunal ITAT has ruled that for entities without valid Section 12A registration, only the net surplus receipts minus expenditure and depreciation , and…
The Income Tax Appellate Tribunal ITAT has provided significant relief to Skyline Builders, allowing them the Section 80-IBA deduction. The tribunal classified Skyline Builders as…
Razorpay to Pay ₹1,245 Crore in Taxes for Domicile Shift: Fintech giant Razorpay has reportedly agreed to pay ₹1,245 crore in taxes following its decision to shift its domicile to…
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