Delhi Clears GST Refund Backlog: ₹694 Crore Disbursed to Traders The Delhi government announced a massive clearance of outstanding Goods and Services Tax (GST) refunds, amounting to ₹694 crore, providing a significant “Diwali gift” to traders and businesses in the city. Key Highlights of the Initiative Total Amount Disbursed: The government disbursed approximately ₹694 crore… Read More »
Chartered Accountant Booked in ₹560 Crore Fake Billing Scam in Jamnagar A Chartered Accountant (CA) in Jamnagar has been formally booked by tax authorities for alleged involvement in a massive Goods and Services Tax (GST) fake billing and fraudulent Input Tax Credit (ITC) racket. Key Details of the Allegations Scam Amount: The fraud is estimated… Read More »
CAG Report Flags Flaws in GST E-Way Bill System A report by the Comptroller and Auditor General of India (CAG) has identified significant procedural and technical shortcomings in the functioning of the e-way bill system under the Goods and Services Tax (GST) regime. Key Flaws Highlighted by the Audit Non-Blocking of Multiple E-Way Bills: The… Read More »
GST Cuts’ Full Effect Delayed: Auto Sector Impact Curtailed by Supply Chains and Global Woes A report by HDFC Securities indicates that the full benefits of the recent Goods and Services Tax (GST) rate rationalization have not yet been realized in the automobile sector, with the real impact expected to be visible later in the… Read More »
Supreme Court Stays Proceedings in ₹780 Crore GST Notice Against Gaming Company The Supreme Court of India has issued an order staying proceedings concerning a massive Goods and Services Tax (GST) notice of approximately ₹780 crore issued to the online gaming company, Nirdesa Networks. Key Points of the Judicial Action Interim Relief: The stay order… Read More »
DGFT Issues Corrigendum for SION C888: Circular Reference Removed The Directorate General of Foreign Trade (DGFT) issued a corrigendum (correction) regarding the Standard Input Output Norms (SION) entry C888 for exports. Key Correction Circular Reference Removed: The corrigendum amends SION Entry C888 by removing the reference to a specific circular (presumably related to the export… Read More »
DGFT Amends Import Policy for Sulfadiazine API: Key Update for Pharma Sector The Directorate General of Foreign Trade (DGFT) issued a notification amending the import policy for the Active Pharmaceutical Ingredient (API) Sulfadiazine, marking a crucial update for the domestic pharmaceutical industry. Key Policy Change Policy Shift: The import policy for Sulfadiazine API has been… Read More »
DGFT Notifies New SION to Streamline Mobile Phone Exports The Directorate General of Foreign Trade (DGFT) has notified a new Standard Input Output Norms (SION) specifically for the export of mobile phones. This amendment is aimed at making the Advance Authorisation (AA) process more efficient for mobile phone manufacturers and exporters. Key Impact of the… Read More »
ITR REFUND PROCESSING लटके हुए रिफंड भी आ गए Income Tax Latest Update
Cash Transaction limits FY 2025-26 in India Cash Transaction Limits and Precautions The video details limits enforced by the Income Tax Department, RBI, and ED to monitor cash transactions. 1. Cash Holding at Home (Source of Cash) No Absolute Limit: There is no specific legal limit on how much cash you… Read More »