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The CEO of GST Network GSTN confirmed the completion of the design architecture for B2C e-invoicing for retailers. This initiative aims to streamline the invoicing process,…
EaseMyTrip has signed an exclusive agreement with PhonePe to list hotels on the payment platform. This partnership aims to expand EaseMyTrip’s hotel booking services to PhonePe's…
PB Fintech, the parent company of Policybazaar, saw its shares drop by 10.3% intraday amid reports of its potential healthcare foray. Investors expressed concerns over the…
GSTN Issues Advisory on Issuance of Notices/Orders Without Digital Signatures of the Issuing Authorities The Goods and Services Tax Network GSTN issued an advisory addressing the…
Immediate Steps Must Be Taken by Revenue to Upgrade Software: Supreme Court Slams Dept, CBDT for Demand of ₹62.85 Lakh Excess Surcharge on Income Tax The Supreme Court criticized…
Statutory Bodies Not Liable to Pay Service Tax on Amounts Received in Compliance with Government Directives: CESTAT CESTAT ruled that statutory bodies are not liable to pay…
CESTAT Exempts Indian Tea Association from Service Tax on Member Contributions, Sets Aside Demand Order The Customs, Excise, and Service Tax Appellate Tribunal CESTAT exempted the…
Final Registration Application Under Section 80G 5 Rejected Due to Delay in Filing Form 10AB: ITAT Orders Fresh Adjudication The Income Tax Appellate Tribunal ITAT ordered fresh…
The National Company Law Appellate Tribunal NCLAT ruled that there is no pari materia equivalence between Section 37 of the Maharashtra Value Added Tax MVAT Act, Section 33 of the…
Fifteen months after splitting from Sequoia, Peak XV has realized exits worth $1.2 billion. The article details the firm’s successful investments and the strategies that led to…
Rajesh Sawhney discusses Ola Electric’s decision to price its IPO lower than its last valuation. He argues that this strategy is beneficial for attracting a broader investor base…
The Supreme Court emphasized the need for election petitions to be precise and well-founded, dismissing an appeal in which the allegations were found to be vague. In the case of…
Indian Bank plans to raise Rs 5,000 crore through the issuance of infrastructure bonds in FY25. The funds will be used to finance and refinance infrastructure projects, including…
India’s private debt market is expected to surpass $18 billion in assets under management AUM by the end of the year. The growth is driven by increasing demand for private credit…
Indian financial companies are facing a balancing act between regulatory compliance and high credit growth, according to S&P Global Ratings. The report highlights the challenges…
Bandhan Life Insurance has partnered with Bandhan Bank to distribute life insurance products through its 1,700 branches. This strategic move aims to generate Rs 300 crore in new…
The Punjab and Haryana High Court directed the waiver of interest in situations beyond the assessee’s control in the timely filing of income tax returns. The case involved a…
The GST Appellate Tribunals are set to start functioning by November, with a new digital portal for managing GSTAT cases. The announcement aims to streamline the appellate process…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT directed the refund of untransitioned excess CENVAT credit amounting to Rs 30.52 lakh. The case involved a taxpayer…
Axis Bank has partnered with Next Bharat Ventures to support startups and MSMEs through financial and strategic assistance. The collaboration aims to provide funding, mentorship,…
India is set to marginally increase minimum wages for informal sector workers, including those in construction, mining, and agriculture, starting October 1. This move aims to help…
HDFC Bank has sold a housing loan portfolio worth Rs 60 billion $717 million to reduce its credit load amid regulatory pressures. The portfolio was sold to about half a dozen…
Star Health has initiated legal proceedings against Telegram and a hacker for leaking sensitive customer information via chatbots. A Tamil Nadu court has temporarily ordered the…
The Bombay Stock Exchange BSE has called on investment bankers to enhance their due diligence processes for SME IPO listings. This move aims to ensure the credibility and…
The Karnataka High Court remanded a case involving disputed service tax exemption on the supply of auto tippers and manpower for garbage collection to the post-show cause notice…
Seven individuals were arrested in Uttar Pradesh for orchestrating a GST fraud involving 48 shell companies and fake invoices worth Rs 900 crore. The scam resulted in a government…
A tax notice of Rs 382 crore has exposed a scam involving the misuse of Aadhaar and PAN details to create multiple bank accounts in Thane. The scam involved fraudulent…
The Kerala High Court ruled that income tax authorities are entitled to seek interim custody of currency notes seized and produced before a jurisdictional magistrate. The court…
The Punjab and Haryana High Court quashed reassessment proceedings initiated without conducting a faceless assessment as required under Section 144B of the Income Tax Act. The…
The Goods and Services Tax Network GSTN issued an advisory stating that GST return data older than seven years will be archived and removed from the GST portal after September 30,…
The Delhi High Court set aside a GST demand order due to the improper placement of a Show Cause Notice SCN on the GST portal. The petitioner argued that the SCN was uploaded under…
The Bombay High Court clarified that the non-filing of a declaration and input-output ratio is a procedural requirement but not a pre-condition for claiming an excise rebate on…
A significant number of GST show-cause notices issued in 2023-24 stemmed from data discrepancies in tax return filings. Efforts are underway to leverage technology to resolve…
The Central Board of Indirect Taxes and Customs CBIC is considering amending its June 2024 circular to quash GST liabilities for Infosys and similar companies facing tax demands…
The Group of Ministers GoM of the GST Council is unlikely to provide tax relief to the real estate sector concerning Joint Development Agreements JDAs . Despite ongoing…
The Institute of Chartered Accountants of India ICAI issued a corrigendum for the 2024 council elections, specifically correcting the voters list for the Southern Region. This…
The Punjab and Haryana High Court allowed the benefit under Section 12AA of the Income Tax Act for an educational trust dedicated to educational advancement. The case involved a…
The Punjab and Haryana High Court directed the waiver of interest in situations beyond the assessee’s control in the timely filing of income tax returns. The case involved a…
The CEO of the GST Network GSTN confirmed the completion of the technical design architecture for B2C e-invoicing for retailers. This initiative aims to streamline the invoicing…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that the Department cannot appeal a Customs Brokers Licensing Regulations CBLR order issued by the…
Seekho, an upskilling startup, is in advanced talks to raise $10 million in a Series A funding round co-led by Lightspeed and Elevation Capital. The funding will be used to expand…
Paytm’s stock has shown signs of revival, closing above INR 700 after nearly eight months. This rise follows sustained recovery efforts and improved market sentiment. Factors…
The Madhya Pradesh High Court ruled that provisions under the Indian Penal Code IPC cannot be invoked directly without applying the penal provisions of the GST Act. The case…
The Delhi High Court ruled that negative blocking of Input Tax Credit ITC beyond the available balance in the Electronic Credit Ledger ECL is impermissible under GST Rule 86A 1 .…
The GST Appellate Tribunals are set to start functioning by November, with a new digital portal for managing GSTAT cases. The announcement aims to streamline the appellate process…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT directed the refund of untransitioned excess CENVAT credit amounting to Rs 30.52 lakh. The case involved a taxpayer…
The Andhra Pradesh High Court ruled that the fees collected by Agricultural Market Committees AMCs for services provided to farmers and traders cannot be classified as a tax. The…
The Supreme Court ruled that a conviction cannot be challenged solely on the basis of a conversion of charges unless it leads to a failure of justice. The ruling came in a case…
The Supreme Court ruled that restricting the number of candidates for an interview is necessary to enhance the efficiency and transparency of the selection process. The decision…
The Supreme Court held that when special statutes impose stringent bail conditions, the requirement of expeditious trials must be read into such laws. The ruling emphasizes the…
The CEO of GST Network GSTN confirmed the completion of the design architecture for B2C e-invoicing for retailers. This initiative aims to streamline the invoicing process,…
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