While large companies have passed on the benefits, unorganised retailers remain slow to comply, prompting close monitoring by CBIC and government authorities to ensure full pass-through of GST benefits by December.
Key nomination provisions under the Banking Laws (Amendment) Act, 2025 to take effect from Nov 1, allowing up to 4 nominees and ensuring transparent claim settlements.
UPI recorded its highest-ever single-day transaction value this Diwali, hitting Rs 1.02 lakh crore across 754 million transactions. NPCI data shows India’s festive season driving record digital payments, credit card growth, and fintech innovation.
CBDT's APA Annual Report 2024-25 records a surge in Advance Pricing Agreements, offering tax certainty for multinational enterprises and strengthening India's ease of doing business
CBDT issues fresh directions following C&AG's Performance Audit Report on the entertainment sector, instructing tax officers to ensure uniform assessment of pre-operative and film production expenses under Rules 9A and 9B of the Income-tax Rules, 1962.
Audit report exposes cost escalation, non-scheduled items, and unverified GST payments in Electrical Division No. 3 streetlight works. Final action from authorities awaited.
Assam GST officials arrest Ujjawal K. Agarwal for allegedly issuing fake Input Tax Credit through bogus billing worth Rs 12 crore. Bail denied, under judicial custody.
A 43-year-old Hyderabad advocate alleged her identity was forged to register multiple private firms, leading to ₹5.22 crore tax evasion notices.
The DGGI Belagavi unit unearthed Rs 21.64 crore GST evasion by a scrap trader in Harihar, Davanagere, involving fake invoices worth Rs 112 crore and fraudulent ITC claims.
FM Sitharaman said recent GST cuts effective from September 22 have boosted festive consumption, with Rs 2.5 lakh crore in tax benefits reaching consumers.
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