Staffing Services Need Relief from GST 2.0’s Tax Inequity that Has Made Gig Hiring More Attractive Issue: To highlight how the Goods and Services Tax (GST) 2.0 rate rationalization, despite lowering taxes on goods, maintains a high tax rate on formal manpower supply services (staffing), inadvertently creating a tax inequity that makes informal gig hiring… Read More »
Tax Audit Deadline Not Extended for These Taxpayers; Karnataka CA Body Highlights Anomalies in CBDT’s Due Date Extension Circular Issue: The Central Board of Direct Taxes (CBDT) extended the due dates for the Tax Audit Report (TAR) and Income Tax Return (ITR) for most audit cases, but its official circular failed to grant similar extensions… Read More »
₹8 Lakh Cash Deposited in Bank – Man Gets Tax Notice! Assessing Officer Deems It Presumptive Business Income, But Taxpayer Wins Case in ITAT – Ruling Explained (Mr. Kumar vs. Income Tax Officer, ITAT Delhi) Issue: Whether an Assessing Officer (AO) conducting a “limited scrutiny” assessment (opened only to examine cash deposits) can subsequently travel… Read More »
HUL Receives ₹1,986 Crore Income Tax Assessment Order for FY21 Issue: The Income Tax Department issued a large assessment order and notice of demand against the FMCG major Hindustan Unilever Limited (HUL) pertaining to the financial year 2020-21 (Assessment Year 2021-22). Facts: Hindustan Unilever Limited (HUL) received an assessment order, along with a notice… Read More »
GST Cuts Fuel Consumer Durables Output to 10-Month High Issue: To analyze the surge in consumer durables production in September 2025, determining the factors driving the growth and assessing the sustainability of this momentum, especially in light of the recent GST rate rationalization. Facts: The GST rate cuts were implemented effective September 22, 2025. The… Read More »
GST Collection Rises 4.6% Despite Rate Cuts; Total Collection at ₹1.96 Lakh Crore in October 2025; Festive Purchasing Drives Growth Issue: To analyze the revenue performance of the Goods and Services Tax (GST) in October 2025, specifically determining whether the strong consumer spending during the festive season successfully counteracted the expected revenue decline caused by… Read More »
GST 2.0 Next Generation Reform: Streamlined Notifications Issued for GST Rates and Exemptions W.E.F. September 22, 2025 Issue: To implement the comprehensive restructuring of India’s Goods and Services Tax (GST) rate system—known as GST 2.0—aimed at simplification, anomaly removal (like Inverted Duty Structure), and alignment with current economic policy. Facts: The GST Rate Reform 2.0… Read More »
IRDAI Chief: GST Cut Puts Insurance on Par with Food in Fiscal Policy Issue: To analyze the policy signal sent by the Central Government’s decision to exempt individual health and life insurance premiums from Goods and Services Tax (GST) as part of the broader tax rationalization efforts. Facts: The government recently reduced the GST… Read More »
Home Minister: Record Festive Sales Confirm GST Benefits Reaching People Issue: To assert that the recent significant growth in festive season sales volumes provides tangible evidence that the benefits of the Goods and Services Tax (GST) rate rationalization have successfully been passed on to, and realized by, the common consumer. Facts: Home Minister Amit… Read More »
Income Tax Department Unearths ₹5,500 Crore Donations Racket Issue: The Income Tax (IT) Department conducted a nationwide investigation into Registered Unrecognised Political Parties (RUPPs) to expose a large-scale tax evasion and money laundering scheme involving bogus political donations. Facts: A nationwide investigation was conducted into Registered Unrecognised Political Parties (RUPPs). The probe unearthed a… Read More »