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Exposing Illegal Loan Apps: India’s Comprehensive Regulatory Framework
The proliferation of illegal loan apps has become a growing concern, trapping unsuspecting individuals in a cycle of harassment and financial exploitation. In response, the Government of India, throug...
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GST Input Tax Credit: Issues, Settlements and Government Measures
The availability of GST input tax credit (ITC) has been a subject of concern for traders in India. Questions have arisen regarding limitations, settlements, and government measures to address related...
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Elimination of Inequality in Income & Living of Citizens by GST Implementation
The Goods and Services Tax (GST) implementation in India aimed to simplify the indirect tax system, create a unified market, and eliminate cascading tax effects. However, questions arise regarding its...
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Aadhaar-Based Authentication For GST Registration
The Lok Sabha recently raised queries regarding the implementation of Aadhaar-based authentication for GST registration in Andhra Pradesh. In response, the Ministry of Finance provided insights into t...
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Government Uncovers 4,153 Bogus Firms in GST Evasion Scandal
The Ministry of Finance’s recent disclosure regarding the involvement of bogus firms in the evasion of input tax credit (ITC) under the Goods and Services Tax (GST) system has raised significant conce...
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Government’s Crackdown: Rs. 44,000 Crore Fake GST Claims Uncovered
The Ministry of Finance’s recent revelation regarding fake input tax credit claims in the Goods and Services Tax (GST) system has sparked significant attention. This article delves into the details of...
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Notification No. 20/2024-Income Tax Dated: 6th February, 2024
Ministry of Finance, through the Central Board of Direct Taxes, has issued Notification No. 20/2024-Income Tax, dated 6th February 2024, to amend certain provisions under Section 118 of the Income Tax...
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Faceless Tax Assessment: Impact, Benefits & Redressal Measures: Govt. Response
Introduction: The introduction of faceless tax assessment under section 144B of the Income-tax Act, 1961, marks a significant milestone in India’s tax administration. This innovative scheme, implement...
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Draft IRDAI Regulations 2024: Registration, Capital, Shares Transfer & Amalgamation
Introduction: The Insurance Regulatory and Development Authority of India (IRDAI) is undergoing a comprehensive review of regulations to improve the business environment and reduce compliance burdens....
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Key Takeaways from Budget for Individual Financial Goals
Introduction: In a fictional conversation between Arjuna and Krishna, the Hon’ble Finance Minister Nirmala Sitharaman’s Interim Budget 2024 is discussed. While no amendments were made to tax rates, th...
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SEBI Consultation: Flexibility for AIFs in Creating Encumbrance on Equity in Infrastructure Sector
Introduction: The Securities and Exchange Board of India (SEBI) has released a consultation paper, seeking input on proposed amendments to the SEBI (Alternative Investment Funds) Regulations, 2012. Th...
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SEBI’s Interim Recommendations on ICDR Regulations: Expert Committee Update
Introduction: SEBI, on January 11, 2024, released a Consultation Paper discussing the ‘Interim Recommendations of the Expert Committee for facilitating ease of doing business and harmonization of the...
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DGGI Unearths 1,700 Fraudulent ITC Cases Worth Rs. 18,000 Crore
In the ongoing Financial Year 2023-24 (up to December 2023), the Directorate General of GST Intelligence (DGGI) has made significant strides in detecting fraudulent Input Tax Credit (ITC) cases, unear...
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MCA Notification: Central Processing Centre for Form Processing
Introduction: In a significant move, the Ministry of Corporate Affairs (MCA) has issued a notification No. S.O. 446(E) on 02nd February 2024, announcing the establishment of a Central Processing Centr...
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Budget 2024: TCS Changes on Foreign Remittances
Budget 2024 Important Points on TCS Introduction: Discover the significant amendments to Tax Collected at Source (TCS) on foreign remittances as unveiled in the Budget 2024 by Finance Minister Nirmala...
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France becomes first European country to accept UPI
In a groundbreaking collaboration, NPCI International Payments Limited (NIPL) and Lyra, a leading French payment security company, have introduced the acceptance of Unified Payments Interface (UPI) in...
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IFSCA (Payment Services) Regulations, 2024 notified
Introduction: The International Financial Services Centres Authority (IFSCA) has ushered in a new era with the notification of the IFSCA (Payment Services) Regulations, 2024, on January 30, 2024. This...
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Consultation Paper to revise & revamp nomination facilities in Indian Securities Market
The Securities and Exchange Board of India (SEBI) has released a comprehensive consultation paper in February 2024, proposing significant revisions to the nomination facilities in the Indian Securitie...
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Startups and Interim Budget 2024
The Interim Budget 2024 reflect the growing interest of India to emerge as manufacturing hubs for deep tech and high end emerging technologies. There is a strong realization that unless India invests...
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Interim Budget Changes – Indirect Tax – 2024
Introduction: Dive into the intricacies of the 52nd GST Council Meeting, unraveling key amendments in the GST provisions. Understand the mandatory distribution of Input Tax Credit (ITC) by Input Servi...