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Toplyne, a SaaS startup backed by Peak XV Partners and Tiger Global, has decided to shut down operations and return capital to investors. Despite raising over $17 million and…
The Patna High Court quashed the dismissal of Ram Pravesh Chauhan, a Sub Registrar, citing inadequate evidence in the disciplinary proceedings and reiterating Article 311…
The Union Government has released Rs. 1.78 lakh crore to state governments, including an advance instalment of Rs. 89,086.50 crore, ahead of the festive season. This release,…
Jio Financial Services has expanded its JioFinance app with new offerings, including loans on mutual funds, home loans, and loans against property. The upgraded app also provides…
Rapido, a bike-taxi startup, is set to raise $60 million from Prosus in its latest funding round. The investment will be used to expand Rapido’s services and enhance its…
The Good Glamm Group has acquired the remaining stake in femtech startup Sirona for INR 450 crore. This acquisition is part of Good Glamm’s strategy to expand its portfolio in the…
CRISIL has projected a decline in the profitability of small finance banks SFBs in FY25. The report attributes this decline to increased competition, higher operating costs, and…
PwC India has partnered with Meta to expand open-source AI solutions. The collaboration aims to leverage Meta’s AI research and PwC’s industry expertise to develop innovative AI…
The Central Consumer Protection Authority CCPA plans to take action against ecommerce players for flouting dark pattern norms during the festive season sales. Dark patterns refer…
The National Company Law Appellate Tribunal NCLAT has ruled that creditors have the right to file for bankruptcy beyond the threshold timeline under Section 118 of the Insolvency…
The Central Board of Indirect Taxes and Customs CBIC has amended the reconciliation process for Input Tax Credit ITC in Goods and Services Tax GST Return FORM GSTR-9, shifting…
India lacks the ecosystem and skilled manpower to manufacture TV open cells domestically, continuing to rely heavily on China for this critical component. Open cells, accounting…
Financial services company Equirus has raised Rs.125 crore from Amicus Capital and other investors to expand its operations. The funds will be used to enhance the company’s…
The most active stocks on the National Stock Exchange NSE in terms of traded value included Bandhan Bank, Reliance Industries RIL , Tata Consultancy Services TCS , Spicejet, Axis…
The Bombay High Court commuted the death sentence of a convict in a dual murder case to life imprisonment. The court observed that the convict had shown signs of reformation and…
The Madhya Pradesh High Court ruled that customs authorities cannot claim priority over banks for the recovery of dues from an assessee’s property. The court held that the rights…
The Kerala High Court ruled that penalties under Section 129 of the CGST/SGST Act can only be imposed for violations with the intent to evade tax or in cases of repeated…
The National Company Law Tribunal NCLT in Mumbai dismissed a bidder’s challenge to the e-auction sale of a corporate debtor. The case involved a bidder who challenged the…
The Delhi High Court ruled that the scope of review under Article 227 is extremely narrow and cannot be invoked when interrogatories and discoveries allowed by the tribunal have a…
The Kerala High Court ruled that physical contact without resistance does not imply consent in cases of sexual harassment under Section 354 and 354A 1 of the IPC. The court…
The Kerala High Court criticized the police for inaction in investigating a theft at the residence of the former Kollam Bar Association president. The court directed the Crime…
The Madras High Court refused to set aside a show cause notice issued to music composer Harris Jayaraj by the Income Tax Department. The notice was issued for alleged…
The Delhi High Court ruled that annual performance appraisal reports APARs must be written by superior officers with impartiality and fairness, as they play a crucial role in…
A consumer court fined United India Insurance Rs. 5,000 for denying a medical claim without proper justification. The court found that the insurance company acted in bad faith by…
Apple has partnered with Airtel in India to offer Apple TV Plus and Apple Music exclusively to Airtel customers. This partnership, announced in August, will allow Airtel users to…
The Central Board of Indirect Taxes and Customs CBIC has issued a notification prohibiting the issuance of consolidated invoices for supplies under the Reverse Charge Mechanism…
The Central Board of Indirect Taxes and Customs CBIC has updated the penal provisions in Form GST INS-01 to align with the Bharatiya Nyaya Sanhita, 2023. This amendment, effective…
The Bombay High Court has upheld the tax exemption on anonymous donations received by the Shree Sai Baba Sansthan Trust, Shirdi. The court confirmed that the Trust qualifies as a…
Union Minister Pankaj Chaudhary inaugurated the new GST Bhawan in Nangal Raya, Delhi, marking a significant milestone in the government’s commitment to improving tax…
The Union Government has released Rs. 1.78 lakh crore to state governments, including an advance instalment of Rs. 89,086.50 crore, ahead of the festive season. This release,…
A report warns that 314 housing projects in Maharashtra are facing insolvency, posing a significant risk to homebuyers. The projects, which are at various stages of completion,…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has ruled that clearing and forwarding agents, bungalow rent, and maintenance in tire manufacturing are considered…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has upheld a reduction in fines and penalties for the unlicensed import of used clothes. The Appellate Authority AA…
The National Company Law Appellate Tribunal NCLAT has ruled that creditors have the right to file for bankruptcy beyond the threshold timeline under Section 118 of the Insolvency…
The Allahabad High Court has ruled that Section 107 of the GST Act is a complete code and excludes general limitation provisions. This decision came in response to an appeal where…
The Union Government has disbursed ?1,78,173 crore in tax devolution to state governments on October 10, 2024, nearly double the regular monthly devolution of ?89,086.50 crore.…
Sudarshan Chemical Industries announced the acquisition of Heubach’s global pigment business for Rs. 1,180 crore. The acquisition aims to strengthen Sudarshan’s position in the…
The National Financial Reporting Authority NFRA has imposed a penalty of ?2 crore on the statutory auditor and ?15 lakh on two chartered accountants for professional misconduct in…
The Central Government has issued a transfer order on October 9, 2024, reshuffling several Honourable Members of the Income Tax Appellate Tribunal ITAT . This reshuffling, made in…
The Central Board of Indirect Taxes and Customs CBIC has amended Rule 66 of the CGST Rules, requiring GSTR-7 returns to be filed by the 10th of every month, effective from…
The Central Board of Indirect Taxes and Customs CBIC has amended the reconciliation process for Input Tax Credit ITC in Goods and Services Tax GST Return FORM GSTR-9, shifting…
The Kerala High Court has ruled that the restrictive interpretation adopted by the authorities regarding the application of the limit prescribed on Public Provident Fund PPF…
The Central Board of Indirect Taxes and Customs CBIC has prohibited the issuance of consolidated invoices for supplies subject to Reverse Charge Mechanism RCM . This notification,…
The Central Board of Indirect Taxes and Customs CBIC has revised GST Form INS-01, replacing IPC penal provisions with BNS sections. This amendment, notified on October 8, 2024,…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT has set aside an order revoking a customs broker license due to the show cause notice SCN failing to state…
The Reserve Bank of India RBI has released its latest monetary policy report, keeping the repo rate unchanged. The decision to maintain the repo rate at its current level reflects…
The Reserve Bank of India RBI has increased the transaction limit for UPI Lite from ?500 to ?1,000. This move aims to enhance the convenience and usability of the UPI Lite…
The Telangana High Court has ruled in favor of Ola Fleet Technologies, stating that issuing a GST order manually without considering the reply submitted on the GST portal amounts…
The National Company Law Tribunal NCLT in Bengaluru ruled that no interest can be claimed in an insolvency petition without prior intimation to the corporate debtor. The case…
The Kerala High Court ruled that penalties under Section 129 of the CGST/SGST Act can only be imposed for violations with the intent to evade tax or in cases of repeated…
Toplyne, a SaaS startup backed by Peak XV Partners and Tiger Global, has decided to shut down operations and return capital to investors. Despite raising over $17 million and…
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