Next-generation GST aimed at boosting India's next phase of growth

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Faster registration, easier refunds: Reform rollout with GST 2.0

GST Council plans to unveil substantial reforms aimed at improving business processes and facilitating growth. The proposed changes involve streamlined registration, easier refunds, and a more efficient input tax credit system. Decriminalisation measures are also proposed to alleviate issues for businesses with minor offenses. A focus is on reducing discretionary practices and using technology to minimize litigation. These reforms seek to enhance operational efficiency for both small and large enterprises.

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GST Council meeting on October 7: Arrest powers, ITC, prosecution threshold proposals on agenda - report

The GST Council will meet on October 7 to discuss major reforms in GST processes and enforcement. Proposed changes include removing tax officers' arrest powers and requiring judicial consent for any arrests. Additionally, the prosecution threshold may be raised from Rs 1 crore to Rs 5 crore, with some offences being decriminalized. Changes are also aimed at simplifying compliance for small e-commerce sellers and protecting genuine buyers' input tax credits.

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Stock market outlook: RBI rate decision, earnings, oil & more, here's what will drive D-street this week

Volatility looms over Indian stock markets as they navigate a complex web of local and global influences. Major factors at play include the upcoming decision on interest rates from the Reserve Bank of India, alongside the eagerly awaited corporate earnings announcements. Additionally, fluctuations in crude oil pricing and global bond yields are expected to mold market sentiment.

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Festive demand stays strong: Appliance makers eye double-digit sales despite price hikes

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Rs 2.47 crore cash deposit triggers tax notice: Why ITAT Delhi ruled in favour of assessee

The shop owner said that deposited cash had come from sales generated by his pharmacy and had been properly recorded for in the concerned business books. To support his explanation, he submitted an audited balance sheet, VAT (value-added tax) returns and sample sales invoices. The Assessing Officer (AO), however, did not accept his account.

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Hydro generation falls short, strains power supply during non-solar hours in Sept

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