18 Dec, 2024
Latest E-Way Bill and E-Invoice Updates for 2025 The GST Network (GSTN) has announced significant E-Way Bill updates and E-Invoice changes, effective from 1st January 2025. These changes aim to enhance security and streamline compliance processes. Let’s break down these key updates and how they impact taxpayers. 1. Multi-Factor Authentication (MFA) Becomes Mandatory E-Way Bill […]
Read More17 Dec, 2024
Rationalised GST Rates: Key to India’s Growth and Jobs India’s introduction of the Goods and Services Tax (GST) in 2017 marked a significant shift towards a unified tax system. Since then, the government has focused on simplifying GST to fuel economic growth and job creation. Recent discussions on GST rate rationalisation highlight the importance of […]
Read More17 Dec, 2024
The GST clarification on ITC for Electronic Commerce Operators (ECOs) like Swiggy and Zomato is expected soon, addressing long-standing ambiguity under Section 9(5) of the CGST Act. The Law Committee, comprising senior officials from the Ministry of Finance and CBIC, recently convened to resolve these queries. 🔍 Background on Section 9(5) and ITC Section 9(5) […]
Read More17 Dec, 2024
GST Rates on Ready-to-Eat Popcorn: What Businesses Need to Know The GST Council’s Fitment Committee has proposed crucial clarifications on GST rates for ready-to-eat popcorn. This move aims to address ambiguities in popcorn classification and applicable GST rates. These recommendations, if approved, could provide much-needed clarity for businesses and make certain popcorn types more affordable […]
Read More17 Dec, 2024
Why Complex GST Slabs May Hinder Compliance India’s GST system was designed to streamline taxation and boost compliance. However, introducing new slabs, like the proposed 35% rate, may derail these goals. A complex tax structure can encourage black market growth and hurt legitimate businesses. Let’s break down the potential pitfalls of these changes and what […]
Read More17 Dec, 2024
Nifty’s Volatility Surge: Decoding the India VIX Spike The recent spike in India VIX, the “fear gauge” of Indian markets, has rattled investors. On Monday, the India VIX surged by 60%, its highest jump since 2015. This surge reflected a sharp rise in market uncertainty, driven by concerns over a potential US recession and a […]
Read More17 Dec, 2024
Bitcoin Surges to $107K: Is a U.S. Strategic Reserve Coming? Bitcoin’s price has soared past $107,000, fueled by speculation about the creation of a U.S. Bitcoin Strategic Reserve. This buzz follows comments from President-elect Donald Trump, suggesting a friendlier regulatory stance toward cryptocurrencies. The potential reserve, modeled after the nation’s strategic oil reserve, has excited […]
Read More17 Dec, 2024
GST Council Eyes Tax Hike on Used EVs and Cars: What You Need to Know The GST Council meeting scheduled for December 20-21, 2024, in Jaisalmer, Rajasthan, is set to discuss a GST hike on used cars and electric vehicles (EVs). Currently taxed at 12%, the proposal suggests raising this rate to 18%, which could […]
Read More16 Dec, 2024
Biometric-Based GST Registration for 3 States: A Step-by-Step Guide The GSTN (Goods and Services Tax Network) has rolled out biometric-based Aadhaar authentication and document verification for GST registration applicants in Chhattisgarh, Goa, and Mizoram. As per Advisory No. 558 issued on 15th December 2024, the GST registration process now involves risk-based biometric verification to enhance […]
Read More16 Dec, 2024
Punjab GST Scam: â‚ą163 Crore Fraud Shakes Tax System The Punjab GST Department recently unearthed a massive bogus billing scam involving fraudulent transactions worth â‚ą163 crore. The scam, centered in Ludhiana, exposed a network of fictitious firms exploiting fake Input Tax Credit (ITC), causing significant losses to the state exchequer. 🚨 Unmasking the â‚ą163 Crore […]
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