The CBIC has issued clarifications regarding the applicability of GST on local delivery services conducted through e-commerce operators. The notification addresses ambiguities…
18/09/20252 min read
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The CBIC has issued clarifications regarding the applicability of GST on local delivery services conducted through e-commerce operators. The notification addresses ambiguities…
The CBIC has announced that the GST compensation cess on select goods will be reduced to nil effective September 22, 2025. This change applies to specific commodities previously…
The CBIC has announced revised GST rates for handicrafts, artware, and building materials effective September 22, 2025. The notification aims to rationalize taxation, reduce…
The CBIC has notified a 12% GST rate applicable to fly ash bricks, building bricks, and tiles effective September 22, 2025. This clarification ensures that these building…
The Central Board of Indirect Taxes and Customs CBIC has issued a notification substituting references to Notification No. 9/2025 in the context of Central Integrated Union…
The Institute of Chartered Accountants of India ICAI has formally requested the CBDT to extend income tax return ITR filing deadlines for various assessment years to align with…
The ITAT recently ruled that once an employee furnishes Form 10EE, which pertains to claiming relief under Section 89 1 for arrears or salary adjustments, the benefit…
The GST authorities clarified that when goods are returned by a buyer, the applicable GST rate for issuing a credit note should correspond to the original invoice rate, not any…
The Income Tax Appellate Tribunal ITAT recently set aside an order disallowing certain service tax payments under Section 43B due to insufficient verification by the assessing…
The Institute of Chartered Accountants of India ICAI has expressed serious concern over technical glitches on the Income Tax Department’s e-filing portal that are affecting the…
The Chandigarh Bench of ITAT deleted a cash deposit addition of ₹25.25 lakh made against an illiterate agriculturist examining the genuineness of deposits as own-account…
The ITAT condoned a one-day delay in filing Form 10B, the audit report for charitable trusts under the Income Tax Act, recognizing that minor procedural lapses should not result…
The Delhi High Court clarified that courts cannot question the adequacy or sufficiency of material relied on by the Assessing Officer AO when reopening an income tax assessment…
The Income Tax Appellate Tribunal ITAT granted relief to an assessee by reducing unexplained investment addition to ₹1.32 lakh from a higher amount and allowed relief of ₹6.5 lakh…
The Madras High Court ruled that the State cannot retrospectively withdraw purchase tax subsidies granted to sugar mills, such as Ponni Sugars. The case emphasized the principle…
The Chhattisgarh High Court held that a single judge lacks jurisdiction to dismiss writ petitions concerning Central Sales Tax CST and Value Added Tax VAT merely on the basis of…
The Andhra Pradesh High Court ruled that authorities cannot retain petitioner funds after the 10% pre-deposit as mandated under Section 107 of the Andhra Pradesh Goods and…
The Income Tax Department has initiated a comprehensive probe into the Marico Group, a major Indian consumer goods conglomerate, as part of an intensified nationwide tax…
The Income Tax Department has uncovered a massive gold laundering racket valued at approximately Rs 20,000 crore across Telangana and Andhra Pradesh. Focused primarily on Caps…
PayU has increased its stake in fintech firm Mindgate to 70%, solidifying control and strategic oversight over the company’s operations. Mindgate provides comprehensive payment…
Groww, the retail investment platform, awarded ₹614 crore in bonuses to its cofounders in FY25, reflecting strong financial performance and alignment of incentives with business…
Leading fintech platforms PhonePe, Paytm, and CRED temporarily suspended rent payments via credit cards due to regulatory compliance requirements and risk management concerns. The…
The Finance Ministry clarified that there is no necessity for recall or re-labelling of medicines stocked before September 22, 2025, when GST rate changes come into effect.…
Urban Company, India’s largest home and personal services platform, made a successful market debut with its IPO, with shares listing at a significant premium, reflecting robust…
Infra.Market, a B2B construction materials procurement startup, announced plans to raise $83 million in funding led by its founders, Nikhil Kamath, and global investor Tiger…
PayU has raised its ownership in Mindgate to 70%, further consolidating its control over the fintech services firm. Mindgate provides technology-driven solutions including payment…
DevX, a newly listed technology startup, experienced a lower circuit lock on its shares during the second trading session post-IPO. The decline reflects market volatility,…
Raptee, an electric vehicle EV startup, secured funding support from the Technology Development Board TDB to accelerate its R&D, production, and deployment of EV solutions in…
Gameskraft, a prominent online gaming startup, laid off 120 employees due to operational restructuring and cost rationalization measures. The layoffs are part of strategic efforts…
The International Finance Corporation IFC , a member of the World Bank Group, announced an investment of $25 million into Trifecta Capital’s fourth venture debt fund. This fund…
Groww, a leading retail investment and wealth management platform, filed its Draft Red Herring Prospectus DRHP detailing its shareholding structure and leadership team ahead of an…
IndiaAI, the government-backed artificial intelligence mission, selected eight companies, including Fractal Tech and Mahindra, to develop large language models LLMs in India. The…
Digital payments platform Mobikwik reported a fraud incident resulting in a ₹40 crore loss, of which ₹14 crore has been recovered. The company clarified that the breach was linked…
BigBasket, one of India’s largest online grocery platforms, reported FY25 losses exceeding ₹2,000 crore alongside a decline in revenue growth. Despite increasing order volumes,…
The Indian government, represented by Union Minister Ashwini Vaishnaw, announced that the Online Gaming Act will come into effect from October 1. The legislation aims to regulate…
A consortium of Gujarat-based family offices has acquired a 2.6% stake in BharatPe, an Indian fintech payments and merchant services platform, for INR 179 crore. This minority…
Darwinbox, a leading HR tech platform, has announced the issuance of Employee Stock Ownership Plans ESOPs worth $21 million to its workforce. This strategic move is aimed at…
Walmart India reported a significant reduction in its annual losses, bringing it down to ₹110 crore in FY25, compared to previous fiscal years. The muted revenue growth indicates…
PayU, a leading fintech payments company, has increased its equity stake in Mindgate Solutions to 70%, consolidating its control over the technology services firm. Mindgate…
Inframarket, a leading B2B construction materials marketplace, is set to raise Rs 731 crore about $88 million in a new funding round led by company promoters and major…
Gameskraft, one of India’s leading real-money gaming companies, has laid off roughly 120 employees following a government ban on all online money gaming. These job cuts are part…
Wow! Momo, a quick service restaurant chain, is set to secure Rs 75 crore approximately $8.5 million as part of its ongoing Series D funding round, primarily led by 360 ONE and…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT recently reviewed a case involving a customs seizure near the India-Bangladesh border. The tribunal observed…
The Kerala High Court clarified that petrol pumps not situated on National Highways may exercise discretion in granting or denying public access to restroom facilities. The Court…
A Public Interest Litigation PIL was filed in the Kerala High Court challenging the depiction of Arundhati Roy smoking on the cover of her new book. Petitioners argued that the…
Chief Justice of India, BR Gavai, addressed the controversy surrounding his comments in a case concerning the Vishnu idol. The remarks had sparked debates regarding judicial…
The Kerala High Court criticized the National Highways Authority of India NHAI for failing to provide public toilet facilities along national highways, despite the imposition of…
A Delhi court set aside a prior injunction that restrained journalists from publishing stories about Adani Enterprises, emphasizing freedom of the press and public interest in…
Senior advocate Harish Salve publicly expressed concerns regarding arbitration proceedings presided over by retired judges, suggesting a perceived conflict of interest and erosion…
The Himachal Pradesh High Court addressed a criminal case involving negligent driving of a high-speed vehicle resulting in damage and potential harm. The case was filed under…
The CBIC has issued clarifications regarding the applicability of GST on local delivery services conducted through e-commerce operators. The notification addresses ambiguities…
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