Taxpayers facing the September 30 tax-audit deadline should not assume that figures in their books, GST returns, Annual Information Statement, Taxpayer Information Summary and Form 26AS will match. Differences may result from…
Taxpayers subject to tax audit for assessment year 2026-27 must file their audit report by September 30, 2026, using Form 3CA-3CD or 3CB-3CD under the Income Tax Act. The deadline applies to…
Small car sales in India have shown signs of revival after the GST rate cut on entry-level vehicles, with volumes growing 27% to 5.9 lakh units in the first five months of…
The National Payments Corporation of India (NPCI) has said that GST on the Merchant Discount Rate (MDR) for UPI transactions will not burden small merchants. Transactions up to Rs 2,000 will continue…
One year after the GST 2.0 tax rationalisation took effect on September 22, 2025, India's automobile industry reports sustained record sales. Maruti Suzuki's passenger vehicle sales grew 36% year-on-year between April and…
The Bombay High Court has ruled that a cinematographic film is not information technology software under GST law, regardless of whether it is delivered via a digital link or hard disk. The…
Digital payments via Unified Payments Interface (UPI) will incur a charge from 1 April 2025. A fee of Rs 2 plus 18% GST will apply on transactions above a certain threshold paid…
The Delhi High Court has upheld a GST department search of advocate Puneet Batra's office and the seizure of his computer and documents, ruling that advocate-client privilege does not bar investigation when…
The government has ruled out any rethink on the 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant transactions above Rs 2,000, effective October 15. The Finance Ministry denied allegations of foreign influence,…
The government will introduce a Merchant Discount Rate (MDR) on certain UPI merchant transactions above Rs 2,000 from October 15, the National Payments Corporation of India announced. Merchants will pay 0.4% on…
