In an elaborate scheme to sidestep Goods and Services Tax (GST) regulations, a Western Uttar Pradesh-based chewing tobacco manufacturer has been exposed for employing decoy e-way bills. The strategic evasion, amounting to nearly ₹500 crore, highlights the vulnerabilities within the current tax enforcement framework. Tobacco products, including chewing tobacco, are subject to a substantial GST … Continue reading Chewing Tobacco Manufacturer Evades GST Using Decoy E-Way Bills
Author: Editorial Staff
GST Council’s Strategic Deliberations—Easing Compliance and Facilitating Trade for MSMEs
In an upcoming session, the GST Council is poised to tackle a comprehensive agenda aimed at streamlining compliance and enhancing trade facilitation, particularly for micro, small, and medium enterprises (MSMEs). Central to these discussions is the proposal to amend the GST framework, introducing significant relief measures for sectors such as online gaming, casinos, and horse … Continue reading GST Council’s Strategic Deliberations—Easing Compliance and Facilitating Trade for MSMEs
Reconstitution of the GST Rate Rationalisation Panel—Bihar’s Deputy CM Takes the Helm
In a significant move, the GST Council has announced the reconstitution of the Group of Ministers (GoM) tasked with recommending GST rate rationalisation. Bihar’s Deputy Chief Minister, Samrat Chaudhary, has been appointed as the new convenor, succeeding Uttar Pradesh’s Finance Minister, Suresh Khanna. The official memorandum, although dated February 27, has only recently been posted … Continue reading Reconstitution of the GST Rate Rationalisation Panel—Bihar’s Deputy CM Takes the Helm
Editorial—Essential Reforms in GST Rates and Procedures
Since its establishment nearly seven years ago, the Goods and Services Tax (GST) has unequivocally demonstrated its prowess as a transformative fiscal reform. The consolidation of state levies has provided businesses with a more efficient taxation framework, and the advent of transparent e-filing mechanisms has curbed revenue leakages, thereby augmenting tax collections. Remarkably, the gross … Continue reading Editorial—Essential Reforms in GST Rates and Procedures
Doctor Triumphs in Legal Battle Against Bank Over Faulty CIBIL Score—Critical Lessons Learned
When paying a credit card bill, the minimum expectation is that the issuer will promptly settle your account or notify you of any issues. However, for Dr. Bhalla of South Bombay, the situation took a distressing turn. Despite clearing his credit card debt in 2003, the bank reported him as a defaulter, leading to a … Continue reading Doctor Triumphs in Legal Battle Against Bank Over Faulty CIBIL Score—Critical Lessons Learned
Revamping India’s Tax Landscape— Urgent Reforms for Fairness and Growth
The imperative for reform in India’s personal income tax regime looms large as we approach the Union Budget for 2024-25. The shift of domestic companies to a lower tax bracket five years ago has notably increased pressure on individual taxpayers, who now bear the brunt of tax collections with peak rates surpassing 40 percent. This … Continue reading Revamping India’s Tax Landscape— Urgent Reforms for Fairness and Growth
Gujarat’s ₹96,000 Crore Power Play
Gujarat, a state renowned for its pioneering spirit in renewable energy, has embarked on an ambitious journey to bolster its transmission infrastructure. Recognizing the exponential growth in renewable energy capacity, particularly in wind and solar power, Gujarat Energy Transmission Corporation (GETCO) has committed a staggering ₹96,000 crore over the next eight years. This strategic investment … Continue reading Gujarat’s ₹96,000 Crore Power Play
India’s gold and silver imports from UAE surged by 210% to $10.7 billion in 2023-24, according to GTRI.
In an extraordinary development, India’s importation of gold and silver from the United Arab Emirates (UAE) has surged by an impressive 210%, reaching a staggering $10.7 billion in the fiscal year 2023-24. This significant increase comes even as the nation’s overall imports experienced a decline of 9.8%, totaling $48 billion for the same period, according … Continue reading India’s gold and silver imports from UAE surged by 210% to $10.7 billion in 2023-24, according to GTRI.
Paytm Welcomes Rajeev Agarwal as Independent Director
In a strategic move poised to bolster its governance framework, One 97 Communications, the parent company of Paytm, has appointed the distinguished Rajeev Krishnamuralilal Agarwal as a non-executive independent director. This appointment follows the resignation of Neeraj Arora, who stepped down from the board due to ‘pre-occupation and personal commitments.’ Rajeev Agarwal, a former IRS … Continue reading Paytm Welcomes Rajeev Agarwal as Independent Director
RBI Forecasts Soaring 7.3% GDP Growth Amid Record Low CAD and Strategic Gold Reserves
The Reserve Bank of India (RBI) is projecting a robust GDP growth rate of 7.3% for the first quarter of FY25, demonstrating a continuation of the economic dynamism witnessed in the previous quarter, where GDP surged by 7.8%. RBI Governor Shaktikanta Das, speaking at a business event, emphasized the sustained momentum as evidenced by data … Continue reading RBI Forecasts Soaring 7.3% GDP Growth Amid Record Low CAD and Strategic Gold Reserves