Delhi High Court overturns 2019 arbitral award against NTPC, setting aside the Rs 1,891 crore damages granted to JITF, citing "patent illegality" and violation of public policy.
Ethos Limited has received a ₹3.21 crore GST demand from the Principal Commissioner, CGST Chandigarh, for alleged non-payment on non-taxable transactions and Input Tax Credit discrepancies for FY 2017-18 to 2019-20. The company plans to appeal, asserting the demand is unfounded.
Usha Martin Limited has been fined ₹53.47 million by the Joint Commissioner of CGST & C.Ex., Jamshedpur, for non-payment of Compensation Cess on the supply of Char Fines.
Dr. Reddy's Laboratories Ltd has been issued a tax demand of over ₹74.22 crore by the Additional Commissioner of Central Tax, Hyderabad, for allegedly wrongfully availing input tax credit under GST laws. The company intends to appeal the order, stating no significant impact on its financials or operations.
In the Union Budget 2025-26, Finance Minister Nirmala Sitharaman announced an income tax exemption for individuals earning up to ₹12 lakh annually, aiming to increase disposable income and stimulate economic growth. Industry experts praise these measures for their potential to enhance consumption and drive innovation across sectors.
India is reviewing its cryptocurrency stance due to evolving global perspectives, particularly following recent U.S. policy changes under President Trump. Economic Affairs Secretary Ajay Seth emphasizes the need for a collaborative approach to crypto regulation.
Volkswagen sues India over a $1.4 billion tax demand, claiming the penalty jeopardizes its $1.5 billion investment in India. The dispute centers on accusations of misclassifying imported car parts to evade higher duties.
The Indian government has unveiled a ₹10,000 crore Fund of Funds Scheme and extended startup incorporation benefits by five years to bolster the startup ecosystem.
In the Union Budget 2025-26, Finance Minister Nirmala Sitharaman introduces the Jan Vishwas Bill 2.0 and a revamped Central KYC Registry to streamline procedures and expedite company mergers, enhancing the ease of doing business in India.
Finance Minister Nirmala Sitharaman announced key tax reforms in Budget 2025-26, including TDS simplification, a new Income Tax Bill, and incentives for EV and mobile battery production. The TCS threshold on remittances under RBI's liberalized remittance scheme has been increased from ₹7 lakh to ₹10 lakh.
