Page 2 - Monika Yadav

CBDT extends I-T return filing deadline for audit cases to November 21

The tax department has also extended the deadline for furnishing tax audit reports to October 21 from September 30, giving taxpayers more time for compliance

CBIC eases paperwork to claim concessional duty on imports from UK

A valid Origin Declaration will suffice to claim concessional duty under the India-UK CETA, while Form-I may be sought only when a shipment is flagged for scrutiny

MSMEs must prepare for EU non-tariff rules to gain from FTA: Govt

Officials and trade experts said lower tariffs alone would not lift exports unless Indian MSMEs can meet EU requirements on ESG, CBAM, certification and supply-chain standards

India's new trade pacts to provide access to $60 trillion GDP: Piyush Goyal

Commerce Minister Piyush Goyal said nine trade agreements, including the nearly concluded US pact, will expand India's preferential access to global markets

Industry seeks ITC use for reverse-charge GST ahead of Oct 7 Council meet

Businesses want the GST Council to allow accumulated input tax credit to pay reverse-charge liabilities, saying the cash-payment requirement blocks working capital

Sitharaman calls for stronger Brics voice in global tax negotiations

Sitharaman said India has proposed working groups on international taxation and transfer pricing, and revenue statistics to deepen cooperation among Brics tax administrations

One year of GST 2.0: Net GST revenue shows signs of recovery

The rate rejig exercise also withdrew compensation cess on most products, while retaining it on tobacco products until the outstanding compensation-cess loan and interest liabilities were discharged.

MSME credit hits ₹47.4 trillion with clusters driving growth: Report

Small and medium businesses led MSME credit growth as lending became more concentrated in established industrial and trading clusters across key districts

Bhutan's Gelephu City opens new fund, family office regime from Oct 1

The framework offers tax breaks and simpler rules for global family offices, investment funds and fund managers seeking to establish operations in Bhutan's Gelephu Mindfulness City

Net direct tax mopup rises 13% to ₹12.12 trillion till September 17

Net direct tax collections rose 13% to ₹12.12 trillion, with corporate tax and STT driving growth despite a sharp rise in refunds

CBDT removes arrest, detention provisions from tax recovery rules

The tax department has also given valuers and authorised income-tax practitioners six more months, until March 31, 2027, to complete their registration

Blinkit to sell PM Vishwakarma products, widen artisans' market access

A Bengaluru pilot will list handcrafted products made by PM Vishwakarma beneficiaries on Blinkit and offer guidance on digital onboarding, fulfilment, packaging and shipping

MDR on UPI payments face 18% GST; registered biz can claim input tax credit

Experts say GST will raise the upfront cost of accepting eligible UPI payments, but registered businesses can offset the tax through input tax credit, subject to applicable rules.

GST Council to take up process reforms at October 7 meeting: FM Sitharaman

Finance Minister Nirmala Sitharaman says the GST Council will discuss e-invoicing, input tax credit rules and other process reforms during its October 7 meeting

CBIC plans wider AI use, unified portal to ease customs compliance costs

CBIC Chairman Vivek Chaturvedi says AI, machine learning and real-time analytics can lower transaction costs and help create a near-touchless customs system for businesses

35 yrs of liberalisation: Tax system makes progress, but reforms unfinished

India's tax system has come a long way since 1991, but simplifying GST, clearing tax disputes and improving taxpayer services remain key priorities

NSE IPO draws 'unexpectedly large' demand, anchor book tops ₹6,000 cr: CEO

NSE's Ashishkumar Chauhan said demand for the IPO significantly exceeded shares available, while the anchor book was reduced from about ₹9,000 crore to over ₹6,000 crore

Madras HC order offers new hope for GST credit on properties built for rent

In the latest case, ESNP Property had built commercial properties for leasing and claimed credit for GST paid on construction. The tax department rejected the claim.

FISME calls for easier trade finance, tech access for MSMEs under Brics

FISME said Brics cooperation should move beyond sharing experiences and create mechanisms that help smaller firms trade, invest and adopt technologies

Brics backs tax working groups, customs pact under India's chairship

Brics leaders back deeper tax and customs cooperation under India's chairship, including new tax working groups, a customs pact and joint enforcement initiatives