- 16 Apr 2025 06:19 PM
- New
Ajay Bhushan Pandey joins AIIB as Vice President
Ajay Bhushan Pandey has been appointed as vice president of investment solutions at the Asian Infrastructure Investment Bank. He will oversee various departments and is based in Beijing. Pandey, a former finance secretary, played a key role in India's financial reforms and digital initiatives.
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- 15 Apr 2025 06:20 PM
- New
Jaipur resort files FIR against OYO after getting ₹2.66 crore ‘wrong’ GST notice - Report
The FIR was filed on basis of a complaint by Madan Jain at the Ashok Nagar police station of Jaipur. Jain, who is associated with Samskara Resorts, said his hotel was served a show cause notice of ₹2.66 crore from the GST (Goods and Service Tax) office.
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- 15 Apr 2025 06:29 PM
- New
GSTN Implements Phase-III Changes to Table-12 of GSTR-1 & 1A from April 2025
Summary: The GST Network (GSTN) has introduced Phase-III changes to Table-12 of GSTR-1 and GSTR-1A to enhance HSN-wise summary reporting and minimize errors in GST filings. Starting from the February 2025 return period (April 2025 onward), the key changes include mandatory dropdown selection for HSN codes, with no manual entry allowed. Taxpayers must now select HSN codes from a predefined list, with descriptions auto-populated for consistency. Additionally, Table-12 has been split into two distinct tabs: one for B2B (business-to-business) supplies and another for B2C (business-to-consumer) supplies, requiring separate HSN reporting for each. To further ensure accuracy, an auto-validation feature has been introduced (currently in warning mode), checking the consistency of HSN totals against other GSTR-1 tables. While mismatches will only trigger alerts, they will not block return filing. Other improvements include the ability to download the full HSN list and enhanced search features for faster reporting. These changes are mandatory for businesses with annual turnover over ₹5 crore, requiring 6-digit HSN codes. Business owners and tax consultants are advised to update their accounting software, train staff on new reporting requirements, and ensure alignment with the GSTN HSN dropdown list. As the system evolves, future phases (Phase-IV) will likely enforce mandatory validations, so early preparation is key to ensure smooth compliance.
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- 15 Apr 2025 06:23 PM
Betting ads mushroom in regulatory grey zone
Banned betting sites are piggybacking on popular platforms again, as India's taxmen and regulators play whack-a-mole with shady operators from distant shores.
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- 11 Apr 2025 05:57 PM
Record e-way bills in March signal year-end factory push, manufacturing momentum
A surge in electronic permits for goods movement signals robust year-end dispatches, improved compliance, and sustained factory activity—setting the stage for another bumper GST haul.
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- 09 Apr 2025 05:51 PM
Icrier flags vitamin D crisis, urges pricing reform and R&D push to cut healthcare burden
Vitamin D is essential for bone health, and its deficiency is linked to severe skeletal disorders such as rickets in children and osteomalacia in adults.
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- 08 Apr 2025 06:27 PM
Draft Appeal Section 73 on PMT-09 and absence of GST functionality
Draft Appeal Section 73 on PMT-09 and absence of GST functionality
BEFORE THE HON’BLE COMMISSIONER OF GOODS AND SERVICES TAX, DELHI
In the matter of:
M/s. . Appellant
(GSTIN -)
Vs
GST Officer, Ward , Zone , Respondent
Delhi Goods & Service Tax
STATEMENT OF FACTS:
- 07 Apr 2025 05:44 PM
VW delayed $1.4 bn tax evasion case, say customs authorities
The customs authorities have said that Skoda Auto Volkswagen India Pvt. Ltd delayed the provisional assessment of tax evasion worth $1.4 billion (about ₹11,526 crore) by not providing information promptly.
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- 07 Apr 2025 05:41 PM
Claiming GST credit on gadgets to reduce cost? Why it’s not the smartest idea
On social media, tax-saving hacks often get more likes than they deserve. One of the popular tips doing the rounds these days is: “Buy an iPhone for ₹2 lakh and claim GST input credit of 18%. You save ₹36,000!"
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- 07 Apr 2025 05:37 PM
UP farmer troubled as he gets ₹30 crore Income Tax notice; fake GST number, PAN fraud alleged
Saurabh Kumar, a farmer in UP's Mathura, said he received the Income Tax notice worth ₹30 crore on March 26. “I have never seen ₹30 crore and I have received this notice,” he said.
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