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India’s GST collections for October 2024 reached ₹1.87 lakh crore, marking the second-highest monthly collection since the GST regime’s inception in July 2017. This 8.9%…
The Delhi High Court has ruled that salaries paid to seconded employees are not subject to GST, absolving Sony India and other foreign entities from GST liabilities in light of a…
The Gauhati High Court has ruled that a summary of a show cause notice SCN in GST DRC-01 is not the same as an SCN under Section 73 1 of the CGST Act. This decision came in a case…
The Income Tax Appellate Tribunal ITAT has ruled that there will be no disallowance for Provident Fund PF and Employees’ State Insurance ESI contributions made before the return…
The Central Board of Direct Taxes CBDT has mandated the electronic submission of specified forms under Rule 131 of the Income Tax Rules, 1962, to enhance compliance and streamline…
The Central Board of Direct Taxes CBDT has issued Circular No. 14/2024, allowing for the condonation of delay in filing income tax returns for Assessment Year AY 2023-24 for…
India is likely to delay the implementation of the OECD-led Pillar 2 tax regime, which mandates a 15% minimum corporate tax rate for multinational enterprises with global revenues…
India’s fiscal deficit for the first half of FY25 April-September 2024 was ₹4.7 trillion, or 29.4% of the full-year target of ₹16.16 trillion, showing an improvement from 39.3% in…
The Central Board of Indirect Taxes and Customs CBIC has extended the deadline for filing appeals against orders passed on or before March 31, 2023, under Sections 73 and 74 of…
The ITAT condoned a 236-day delay in filing an appeal, stating that acceptance of delay explanations should be the rule rather than the exception. The tribunal highlighted the…
The Madras High Court ruled that the fundamental right to privacy includes spousal privacy. The court emphasized the importance of protecting privacy within marital relationships,…
Canara Bank aims to recover INR 6,000 Cr in the second half of FY25, focusing on improving asset quality and reducing non-performing assets NPAs . The bank’s recovery efforts are…
SEBI has proposed new measures to enhance the operational framework for Real Estate Investment Trusts REITs and Infrastructure Investment Trusts InvITs . The proposed changes aim…
ONGC’s third attempt to find a partner for the Deen Dayal gas field in the KG basin failed, receiving no bids. The field, acquired from Gujarat State Petroleum Corporation for…
Foreign Portfolio Investors FPIs withdrew a record ₹94,000 crore from Indian equities in October, driven by attractive valuations in the Chinese market and elevated pricing of…
A top PSU NBFC is expected to declare a significant dividend on November 4, with analysts recommending a buy for a target price of ₹175. The anticipated dividend declaration…
The Bombay High Court dealt with a matrimonial dispute involving the right to education under Section 498A of the IPC. The court emphasized the importance of education rights in…
Rajasthan RERA directed Sahara Prime City to refund the amount paid by a homebuyer due to a delay of over 12 years in providing possession of an apartment. The homebuyer had…
The article explains the applicability and key provisions of the Arbitration and Conciliation Amendment Act, 2015. The amendment aims to make arbitration a preferred mode of…
Banks in India experienced a decline in their Net Interest Margin NIM in Q2 due to rising deposit costs and the implementation of the RBI’s penal charge directive. The increased…
The Allahabad High Court criticized the Additional Chief Secretary Finance of Uttar Pradesh for seeking exemption from court appearance to attend a program with the Chief…
The Kerala High Court ruled that a challenge to a nine-year-old appointment by new petitioners is not possible if earlier petitions were dismissed for delay. This decision…
The Delhi High Court granted promotion to an army officer, ruling that promotion cannot be denied due to reasons beyond the candidate’s control. This decision ensures fairness in…
The Delhi High Court ruled that a new employer cannot deny appointment to a selected employee if the previous employer has accepted their resignation. This decision protects…
The NCLAT is set to decide whether a moratorium on parallel proceedings or transactions concerning a debt-ridden company will continue despite a stay on an order admitting the…
Whatfix, a digital adoption platform, reported a 49% increase in revenue, surpassing INR 400 Cr in FY24. The startup’s growth was driven by its expanding customer base and…
The Allahabad High Court ordered a Special Investigation Team SIT probe into the lathi charge violence against lawyers in Ghaziabad District Court. The court emphasized the need…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT justified reassessing the value of imported goods using existing imports’ value as per NIDB data. The tribunal…
The Haryana Real Estate Regulatory Authority RERA held Ramprastha Promoters liable for a delay of over five years and ordered interest to be paid to the homebuyer. This decision…
Meesho, an e-commerce platform, reported a 33% increase in operating revenues to INR 7,615 crore for FY24, up from INR 5,735 crore in the previous fiscal year. The company also…
Zaggle has allotted 2.29 lakh equity shares under its Employee Stock Option Scheme ESOP 2022. The company’s board approved the allotment of 2,29,134 equity shares with a face…
The Kerala High Court struck down Rule 96 10 of the CGST Rules, declaring it ultra vires. The rule restricted exporters from claiming refunds if they had availed of certain…
The Income Tax Appellate Tribunal ITAT has ruled that the purchase of one residential house with modifications of two adjacent properties amounts to a single residential house,…
The Enforcement Directorate ED has returned assets worth over INR 185 crore to banks in a loan fraud case. The assets were seized during the investigation of a loan fraud…
The Central Board of Direct Taxes CBDT has notified the tolerance range for transfer pricing for the assessment year 2024-25. The tolerance range is set at 1% for wholesale…
The insurance industry has expressed support for including senior citizens under the Pradhan Mantri Jan Arogya Yojana PMJAY but has flagged key concerns. Industry stakeholders…
The Life Insurance Corporation of India LIC has received a Goods and Services Tax GST demand notice of INR 65 crore. The notice pertains to discrepancies in the GST returns filed…
Finova Capital, a Jaipur-based non-banking finance company NBFC and MSME lender, has raised USD 135 million in Series E funding led by Avataar Venture Partners, Sofina, and…
Dabur India Ltd will acquire a 51% stake in hair care company Sesa Care Pvt. Ltd for INR 315-325 crore. This acquisition, Dabur’s second in two years, will help expand its…
Officers from several Public Sector Undertakings PSUs have appealed to Prime Minister Narendra Modi against the Employees Provident Fund Organisation’s EPFO method of calculating…
Ambuja Cements has become the first cement company to join the Alliance for Industry Decarbonisation AFID , a global platform for sharing insights among stakeholders in…
The Indian stock market experienced significant volatility on October 30, 2024, with major indices witnessing sharp fluctuations. The market was influenced by a mix of global…
A small-cap stock has surged from INR 3 to INR 2,36,000, surpassing MRF to become India’s costliest share. The stock’s remarkable rise has been driven by strong financial…
India’s top 10 most valued firms lost a combined market capitalization of INR 42,156 crore, with Infosys and ICICI Bank being the major contributors to this decline. Infosys saw a…
Dabur India is set to acquire a 51% stake in Badshah Masala, a leading hair oil company, for INR 315-325 crore. This acquisition is part of Dabur’s strategy to expand its product…
Ninjacart, an agritech startup, reported a 74% increase in revenue to INR 2,002 crore for FY24, up from INR 1,150 crore in the previous fiscal year. The company’s growth was…
Navi Finserv, led by Sachin Bansal, has been allowed by the Reserve Bank of India RBI to make scheduled home loan disbursals sanctioned before October 20, 2024. This reprieve…
Nazara Technologies’ subsidiary, Datawrkz, has acquired UK-based growth marketing agency Space & Time for around INR 52.3 crore in a cash and stock deal. This acquisition aims to…
Moneyview, a Bengaluru-based fintech startup, reported a 75% increase in operating revenue to INR 1,012 crore for FY24, up from INR 576.75 crore in the previous fiscal year. The…
Niyo, a neobanking startup, reported a reduction in net loss by 18.95% to INR 143.47 crore in FY24 from INR 177.03 crore in the previous fiscal year. The company’s operating…
India’s GST collections for October 2024 reached ₹1.87 lakh crore, marking the second-highest monthly collection since the GST regime’s inception in July 2017. This 8.9%…
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