GST Circular 251 clarifies trade discounts and credit notes, ensuring manufacturers’ tax certainty, but FMCG distributors face cash-flow pressures due to excess input tax credit under the new dual-rate GST regime.
GST rate cut from 18% to 5% boosts India's ice-cream market, driving demand for organised players like Amul, HUL, and Vadilal, while fostering innovation and expansion across urban and rural areas.
FHRAI has urged the GST Council to review the 5% GST slab on hotel tariffs up to Rs 7500 without ITC, warning it burdens mid-market hotels, affects affordability, and chokes investment in India’s hospitality sector.
The Ministry of Corporate Affairs (MCA) has extended the due date for filing DIR-3 KYC and DIR-3 KYC-WEB without fees to October 15, 2025, offering directors more time to meet compliance requirements.
The Government of India has extended the due date for SEZ Annual Performance Report (APR) filing for FY 2024-25 to December 31, 2025, aligning it with GST audit deadlines to ease compliance.
Chandra Gupta & Associates' Re1 statutory audit bid for NHAI subsidiary raises questions on audit quality, fee sustainability, and professional ethics in India...
The ICAI has launched the Income Tax Act, 2025, replacing the 1961 Act with a simplified, taxpayer-friendly framework effective April 1, 2026.
Finance Ministry says recent GST rate cuts will lower inflation and boost India’s growth, while warning of trade uncertainties and global market risks.
Two Income Tax officials sentenced to 4 years in jail for accepting ₹15 lakh bribe in Jodhpur CBI court; jeweller acquitted due to insufficient evidence.
Exporters await 90% provisional GST refunds as Centre considers ordinance. Law committee working on Section 54 amendment for rollout.
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