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CESTAT has classified vegetable waste oil and dry wax from edible oil refining as waste, exempt from excise duty. This decision clarifies the classification of by-products from…
The Supreme Court has ruled that a cheque dishonoring case becomes invalid when the cause of action arose after the declaration of moratorium under IBC. This decision clarifies…
The Cabinet Committee on Economic Affairs has approved the construction of a 6-lane greenfield national highway in Maharashtra. This move aims to enhance infrastructure…
The Indian government plans to propose a reduction in the share of federal tax revenues allocated to states from 41% to at least 40%, starting from the fiscal year 2026-27. This…
Interest payments on government debt have reached their highest level since 2007, consuming a larger portion of rich nations' GDP than defense or housing expenditures, according…
Deloitte, PwC, and KPMG have criticized the Internal Revenue Service IRS for its handling of Coca-Cola's tax dispute, claiming it exhibited "arbitrary, capricious and unreasonable…
Companies operating in India are expressing concerns over complex tax structures and bureaucratic hurdles, often referred to as 'tax terrorism.' Instances like Volkswagen's $1.4…
The commission has rapped a private insurance firm for rejecting a health claim. This action highlights the importance of consumer protection in the insurance sector. The…
The Delhi High Court has ruled that the BCI cannot deny enrollment without a legal basis and ordered to enroll a South Korean national as an advocate. This decision highlights the…
CESTAT has ruled that CENVAT credit for interior decorator services is not admissible as an eligible input service in the Capgemini Technology Services case. This decision…
ITAT has ruled that interest income from cooperative bank investments is eligible for deduction under Section 80P 2 d . This decision clarifies the tax treatment of cooperative…
An Adani unit has completed the acquisition of AI startup Parserlabs. This move aims to enhance Adani's technological capabilities. The acquisition reflects Adani's strategic…
Liqvd Asia has acquired Adlift for ₹50 crore to strengthen its digital marketing play. This acquisition aims to expand Liqvd Asia's service offerings. The move reflects Liqvd…
The Mumbai council has approved an amnesty bill for PSUs' tax dues. This move aims to resolve outstanding tax liabilities. The bill reflects the government's efforts to streamline…
The government has intervened to address the illegal building crisis in Dombivli, convening a meeting to protect residents. This move aims to resolve issues related to…
Raids have been conducted on the home of a Gujarat IPS officer for alleged stock market fraud. This action highlights the government's efforts to combat financial crimes. The…
The government has launched a mutual credit guarantee scheme for MSMEs, providing 60 percent coverage on loans up to ₹100 crore. This initiative aims to enhance credit access for…
SEBI is mulling to clarify on ESOPs for founders classified as promoters. This move aims to provide clarity on the regulatory treatment of ESOPs. The clarification reflects SEBI's…
Aakash has made a full-fledged foray into the edtech space. This move aims to expand Aakash's service offerings beyond traditional coaching. The entry reflects Aakash's commitment…
Accenture has logged $16.7 billion in revenue in Q2 and narrowed its revenue outlook. This financial performance reflects Accenture's strong market position. The company's results…
Elon Musk's X has sued the Indian government over alleged censorship and IT Act violations. This move challenges the government's regulatory powers over online content. The…
DPIIT has signed a pact with Yes Bank to support startups. This collaboration aims to enhance financial access for startups. The partnership reflects the government's efforts to…
India's gems and jewellery exports fell by 23.49% in February. This decline indicates challenges faced by the sector. The data reflects the impact of economic pressures and market…
The Payments Council Chairman has stated that they do not want to survive on government incentives, referring to the ₹1,500 crore UPI scheme. This statement highlights the…
The Income Tax Department has released an official partner remuneration calculator. This tool aims to simplify the calculation of partner remuneration for tax purposes. The…
The Kerala High Court has ruled that registered goods carriage vehicles cannot be reclassified for a one-time tax on construction use. This decision protects vehicle owners from…
CESTAT has upheld the reclassification of ESBO as chemically modified vegetable oil. This decision clarifies the classification of specific vegetable oil products. The tribunal's…
The CBDT's new guidelines offer easier resolution options for taxpayers who have received income tax notices. This move aims to simplify the process of resolving tax disputes. The…
The Supreme Court has ruled that a cheque dishonoring case becomes invalid when the cause of action arose after the declaration of moratorium under IBC. This decision clarifies…
AAAR has ruled that no GST is applicable on additional surcharge levied by an electricity supplier on open access consumers. This decision clarifies the tax treatment of…
The West Bengal government seeks to amend the excise act, removing gender-based restrictions in bars. This move aims to promote gender equality in the state. The amendment…
NCLT has ruled that in the absence of fraud or misrepresentation, an order admitting CIRP cannot be recalled, favoring Canara Bank. This decision clarifies the finality of CIRP…
The Cabinet Committee on Economic Affairs has approved the construction of a 6-lane greenfield national highway in Maharashtra. This move aims to enhance infrastructure…
The Delhi High Court has refused to condone the delay in filing a second appeal before CESTAT due to the negligence of the assessee in tracking the order. This decision highlights…
From April 1, 2025, ISD will be mandatory for claiming input tax credit, according to a GST rule change. This move aims to streamline the input tax credit process. The new rule…
The India AI mission is set to sign an MOU with the Gates Foundation soon. This collaboration aims to enhance AI development and application in India. The partnership reflects the…
India's rapid adoption of digital transactions has positioned it as a global leader in digital payments. However, this surge has also led to an increase in digital financial…
The government has launched a mutual credit guarantee scheme for MSMEs, providing 60 percent coverage on loans up to ₹100 crore. This initiative aims to enhance credit access for…
Temasek continues its selling spree, shedding a stake in CarTrade. This move reflects Temasek's portfolio adjustments. The stake sale indicates changes in investment strategies.…
Over 9 crore taxpayers filed ITR for FY 2025, with 4.68 lakh reporting income above ₹1 crore. This data highlights the increasing number of taxpayers in India. The figures reflect…
The Cabinet has approved an incentive scheme for the promotion of low-value BHIM UPI transactions. This move aims to encourage the use of digital payments for small transactions.…
GSTN has added Yes Bank, expanding the number of banks facilitating GST payments to 31. This move aims to improve the convenience of GST payments for taxpayers. The inclusion of…
ITAT has ruled that interest income from cooperative bank investments is eligible for deduction under Section 80P 2 d . This decision clarifies the tax treatment of cooperative…
CESTAT has ruled that ship management services provided by Capgemini Technology Services do not amount to input service in the absence of documents. This decision highlights the…
CESTAT has granted relief to Capgemini Technology Services, ruling that ITC cannot be denied due to procedural lapses. This decision emphasizes the importance of substantive…
The IndiaAI mission has received 67 proposals to build indigenous AI models. This initiative aims to foster the development of local AI capabilities. The proposals reflect the…
CESTAT has ruled that CENVAT credit for interior decorator services is not admissible as an eligible input service in the Capgemini Technology Services case. This decision…
SEBI's nod to Paytm Money opens new avenues for the fintech, according to Motilal Oswal. This approval aims to expand Paytm Money's service offerings. The move reflects SEBI's…
More BIS raids are being conducted at Amazon and Flipkart warehouses. These raids aim to ensure compliance with quality standards for products sold online. The actions reflect the…
Sagar Defence has partnered with Boeing's Liquid Robotics to boost maritime security. This collaboration aims to enhance surveillance capabilities in the maritime domain. The…
CESTAT has classified vegetable waste oil and dry wax from edible oil refining as waste, exempt from excise duty. This decision clarifies the classification of by-products from…
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