Warning: Ignoring Income Tax Mismatch Notice May Result in a Tax Demand Issue: To inform taxpayers about the increased volume of system-generated intimations under Section 143(1)(a) of the Income Tax Act and to warn them of the serious financial and compliance consequences of failing to respond to these notices or correct the discrepancies. Facts:… Read More »
FM Sitharaman: GST 2.0 Increased E-Commerce Trade by 22% Issue: To highlight the successful initial impact of the Goods and Services Tax (GST) 2.0 rate rationalization on the digital economy, specifically e-commerce trade volumes and overall consumer purchasing power. Facts: The GST 2.0 tax revision and rate reduction measures were announced and implemented effective… Read More »
Bajaj to Tweak KTM, Triumph Range to Meet GST Benefits Issue: Bajaj Auto faces a tax disadvantage on its mid-to-high capacity motorcycle range (KTM and Triumph) because the engine displacement of popular models is slightly above the 350cc threshold, causing them to attract the highest GST slab instead of the concessional rate. Facts: The recent… Read More »
India’s Textile Exports Shows Resilience and Diversification; Growth recorded in exports to 111 Countries Posted On: 12 NOV 2025 6:20PM by PIB Delhi India’s Textile & Apparel, including handicrafts exports, demonstrated remarkable resilience in the first half of FY 2025-26 despite global headwinds and tariff-related challenges in major markets. India’s global exports of textiles, apparel… Read More »
Cabinet approves Export Promotion Mission to strengthen India’s export ecosystem with an outlay of Rs.25,060 crore Posted On: 12 NOV 2025 8:16PM by PIB Delhi The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Export Promotion Mission (EPM) — a flagship initiative announced in the Union Budget 2025–26 to strengthen… Read More »
National Financial Reporting Authority (NFRA) publishes an ‘Audit Practice Toolkit’ to enhance audit quality in India Publish Date: November 4, 2025 The National Financial Reporting Authority (NFRA) has commenced issuing audit practice toolkits with a focus on supporting the small and medium practitioners engaged in the audits. This initiative is part of NFRA’s systemic drive to… Read More »
After September High, E-Way Bills Soften 4% to 126.85 Million in October Issue: To analyze the month-on-month trend in the generation of e-way bills—a key indicator of inter-state and intra-state movement of goods—following the record high seen in September 2025 and the implementation of the GST rate rationalization (GST 2.0). Facts: E-way bills are… Read More »
India-Belgium Double Taxation Avoidance Protocol MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 10th November, 2025 (Income-Tax) S.O. 5074(E).—Whereas, the Protocol, amending the Agreement and the Protocol between the Government of the Republic of India and the Government of the Kingdom of Belgium for the avoidance of double taxation and the prevention of… Read More »
GST Rate Cut Eases Discount Pressure for Truck Manufacturers Issue: To analyze the impact of the Goods and Services Tax (GST) rate rationalization on the pricing strategy of truck manufacturers, particularly regarding the need for aggressive discounts to attract buyers in the highly competitive commercial vehicle (CV) market. Facts: The GST rate on vehicles,… Read More »
Insurance Brokers Push for ‘Zero-Rated’ GST to Reclaim ITC Issue: To seek a major tax policy change where the zero-rated status is applied to the insurance sector instead of the current exempt status, allowing insurers and intermediaries to recover Input Tax Credit (ITC) on their expenses, which would alleviate pressure on agent commissions and… Read More »