Monika Yadav

GST registration for small e-commerce sellers to begin from November 1

The simplified GST registration facility will allow small e-commerce sellers to expand across states without setting up physical offices, with detailed notifications expected soon

GSTN adds two e-invoicing categories for reverse charge purchases

The new RCM-DOM and RCM-IMP categories will allow eligible businesses to generate e-invoices for specified domestic purchases and imported services under reverse charge rules

India, New Zealand sign pact for electronic exchange of trade origin data

The agreement will enable advance electronic exchange of origin data, improve customs cooperation and help businesses access tariff concessions under the India-New Zealand FTA

CBDT notifies new form for tax exemption claims on govt securities

The new Form 173A requires eligible foreign investors and BIS to disclose security holdings, interest income and capital gains to claim exemptions under the Income-tax Act, 2025

Centre's net direct tax collection rises 13.2% to ₹13.38 trn till Oct 14

Gross direct tax collections stood at ₹16.03 trillion during the period, registering an annual growth of 14.89 per cent

India tightens Mauritius tax treaty, adds test to deny tax-driven benefits

The amended India-Mauritius tax treaty introduces a principal purpose test, allowing authorities to deny benefits where securing a tax advantage is a main purpose of a transaction

CBDT nudges 12,000 tax professionals to file audit reports by October 21

Under its SAKSHAM NUDGE initiative, the Income Tax Department has contacted professionals who have filed fewer than half the audit reports they submitted in the previous year

Two-thirds of MSMEs use AI tools, but only 21% deploy biz software: Study

A CII-ISB study finds 65.8 per cent of surveyed MSMEs use AI tools, but just 21 per cent deploy ERP or customised software, highlighting gaps in technology adoption and productivity.

Fisme urges SME Growth Fund aid for MSMEs with SMA-2, NPA loan accounts

Fisme wants the ₹10,000-crore SME Growth Fund to support financially stressed MSMEs with SMA-2 or NPA accounts, provided they have credible plans to revive their businesses

No automatic GST refund if earlier claim under appeal, says FinMin

GST refunds under the fast-track route will require officer scrutiny if an earlier refund order is under dispute, potentially delaying working capital relief for businesses

September e-way bill generation rises 7.2% to a new record 141.53 million

September e-way bill generation rose 1.75 per cent from August to a record 141.53 million, as the GST Council proposed curbs on routine checks of goods moving by road.

GST Council unveils major reforms, eases penalties and speeds up refunds

Measures ease compliance through simpler registrations, quicker refunds, wider tax credit access and relief on penalties and enforcement

GST Council to take up far reaching compliance reforms at Thursday meeting

The GST Council is expected to consider simpler compliance, faster refunds and changes to prosecution and arrest rules, with no major rate changes likely at the meeting

Union Cabinet approves ₹10,000 crore commitment to SME Growth Fund

The fund will provide growth capital to SMEs seeking to expand capacity, adopt technology, enter global markets, make acquisitions and join global value chains

GST Council may set different timelines for services, capital goods refunds

The refund for capital goods is likely to be implemented from April 1, 2027. Refunds for input services are likely to take effect this year itself, once council approves

GST Council may wind up Fitment Committee, consolidate officer panels

The proposed structure will comprise the GST Secretariat, implementation committee and a single standing committee, replacing several existing panels and sectoral groups

GST Council may allow export tag for overseas contract manufacturing

Proposal seeks to address a place-of-supply anomaly by allowing export treatment for work done for overseas companies even when finished goods remain in India

GST Council likely to ease audits for firms with multi-state operations

The GST Council is likely to consider coordinated audits for businesses with multiple state registrations to reduce duplication and ease compliance

Net GST revenue rises 18.1% to ₹1.77 trn in September, fastest in 6 months

Gross GST collections rose 14.7 per cent to Rs 2.04 trillion, while net revenue growth accelerated to around 14 per cent in the July-September quarter

ESOP tax treatment uncertain as courts differ on pre-exercise payouts

Divergent court rulings on vested but unexercised ESOPs create uncertainty over whether employee payouts are taxed as salary or capital gains