GST REGISTRATIONS
Nirmala Sitharaman flags global risks, says PM Modi Govt ensuring supply stability amid crude, Hormuz pressures
Union Finance Minister Nirmala Sitharaman said India faces risks from crude prices, Middle East tensions and Strait of Hormuz disruptions, but Prime Minister Modi's government is ensuring there is "not a supply disruption" for households and the economy. She made the remarks at the Viksit Bharat event in Karnataka on Sunday while laying out India's economic growth story.
Vehicle retail sales jump 10% in May to 2.53 million units on rural demand
Vehicle sales saw a 10% jump in May, fueled by robust rural demand for cars and trucks. Passenger vehicle registrations surged in rural areas, outpacing urban growth. Two-wheeler sales also climbed, supported by GST cuts and wedding season purchases. Electric vehicle adoption is increasing across segments. FADA anticipates continued demand, supported by monsoon progress and rural cash flows.
India's EV penetration crosses 11% for first time as auto retail sales hit record in May
India's auto sales reached a record in May, growing 9.55 percent. Electric vehicle penetration surpassed 11 percent for the first time. Dealers reported more inquiries for fuel-efficient and green vehicles following fuel price hikes. Passenger vehicles and two-wheelers saw their best-ever May sales. The outlook for June remains cautiously optimistic, supported by monsoon progress and rural demand.
Indian retail auto sales rise 9.6% in May; dealers see monsoon-driven demand ahead
Indian auto retail sales grew 9.6 percent in May, overcoming heat and fuel price concerns. Passenger vehicles led the surge, with rural markets showing strong demand. Two-wheeler sales also increased. Dealers anticipate continued growth driven by monsoon progress and upcoming festivals. Electric vehicle adoption is rising across segments. The industry remains cautiously optimistic for the coming months.
India's new GDP yardstick: What changed, what did not, and what every investor should now read differently
India changed the base year used to measure its economy from 2011-12 to 2022-23. The first full-year provisional numbers under the new yardstick landed on June 5. Real GDP growth for FY26 came in at 7.7%, while nominal GDP stood at Rs. 346.36 lakh crore. The economy did not suddenly change. The denominator did. That matters because every macro ratio investors look at (debt-to-GDP, market-cap-to-GDP, tax-to-GDP) now sits on a recalibrated base. This is the framework investors need before the next round of macro headlines arrives.
Banks flag bad loans, rising fraud in SHGs
Banks are flagging increased fraud and loan defaults within self-help groups. To combat this, lenders are suggesting mandatory unique registration numbers for groups and their members. A central registry for cross-verification is also proposed. This aims to improve transparency and track loan exposures effectively. The government is already monitoring SHG-bank linkages.
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GST dept issues tax demand of Rs 124 crore to Spicejet, slaps showcause notice for delay in return filing
The GST department has levied a significant tax demand of Rs 124.65 crore on SpiceJet. This action follows the airline's failure to file Goods and Services Tax returns for several months. The department has also issued a show-cause notice for cancellation of SpiceJet's GST registration. The airline has consistently submitted returns late.
Adityanath calls for trader-friendly tax system, better services for honest taxpayers
Uttar Pradesh Chief Minister Yogi Adityanath has instructed the state tax department to boost revenue collection. He emphasised providing facilities and respect to honest traders. The department aims to simplify and digitise the tax system, eliminating delays in processes like GST registration and refunds.
Choosing a crypto exchange in India? Read this first
With fees, security and ease of use all up for scrutiny, WazirX makes a strong case for being the everyday trader’s go-to platform in India’s crowded crypto market.
GST Tribunal revamps appeal process: Division bench review now mandatory for appeals
The move seeks to prevent smaller benches from deciding cases involving important legal questions, ensure consistent rulings, and streamline the process of resolving disputes.
Iran war, fading tax boost may slow India’s growth to 6.7% in FY27: BMI
India's economic growth is set to slow in the upcoming fiscal year. This slowdown is attributed to the diminishing impact of recent tax cuts and escalating crude oil prices. These factors will affect consumption, investment, and inflation. The economy faces pressure from weakening momentum and an oil shock linked to the Iran conflict. A weaker monsoon also poses a risk.
Missed GST return filing? Your GST registration could be suspended; check the legal position
GST registration can now be suspended for even minor delays in filing returns, a shift from the previous six-month rule. Experts highlight this change, enacted in 2022, is causing business disruptions. While authorities have more flexibility, concerns are raised about arbitrary actions and the need for clearer guidelines and appeal mechanisms.
Auto sales jump 13% to 2.61 million units on strong demand tailwinds
Vehicle sales saw a significant 13% jump last month, reaching 2.61 million units. This surge marks the best-ever April for most vehicle categories. Strong rural demand, GST benefits, and lower interest rates fueled this growth. Industry experts anticipate this positive trend to continue. The automotive retail sector has started the new financial year on a robust note.
DGGI officers arrest Kapil Chugh over Rs 1,825 cr GST refund fraud
DGGI officers have arrested Kapil Chugh, the alleged mastermind behind an Rs 1,825 crore GST refund fraud. Chugh, who evaded multiple summons and fled to Dubai, operated a network of dummy firms to fraudulently claim Input Tax Credit. He also siphoned Rs 11 crore from Yes Bank and faces charges in other economic criminal cases.
CII proposes comprehensive reforms to streamline industrial land access in India
The Confederation of Indian Industry has presented a plan to fix issues in India's industrial land system. This aims to boost manufacturing by making land access easier and more transparent. The proposals include a national land bank and a digital single-window system. These changes are expected to speed up projects and attract more investment.
Establish 'GST-like' industrial land council for dispute resolution: CII
Industry lobby CII proposes a National Industrial Land Council, mirroring the GST framework, to standardize regulations and resolve disputes. A key recommendation is a unified, GIS-enabled land bank for transparency and faster investment decisions. The report also advocates for uniform stamp duties and a digital single-window system to streamline industrial land processes across India.
7-seater EV race heats up as VinFast, Mahindra & Mahindra, BYD, JSW MG, Kia target big families in India
The electric vehicle revolution in India is not just about getting from point A to B; it’s now about enhancing family journeys. With the emergence of seven-seater electric vehicles, automakers are capitalizing on this fast-growing segment. Designed for comfort, versatility, and efficiency, these models are attracting the attention of affluent city dwellers eager to embrace modern, eco-friendly transportation.
LIC HFL Recruitment 2026 begins: Check direct link to apply, eligibility, salary, selection process, important dates and more
LIC Housing Finance recruitment 2026: LIC Housing Finance Limited has opened applications for 180 Junior Assistant positions and the deadline is April 30. To apply for LIC HFL, candidates need a graduate degree with 55% marks and must be between 21 and 30 years old. The selection process involves an online exam and interview, with a starting salary of ₹20,000 plus benefits.
Ola Electric vs Ather Energy: Which stock looks better after a stellar surge of up to 70% in April?
Ola Electric shares have rebounded sharply, surging 68% in under 10 sessions, while Ather Energy gained 16% over the same period. Despite the recovery, Ola remains down 75% from its Rs 157 peak and nearly 50% below its issue price. In contrast, Ather Energy has surged 172% from its IPO price within a year of listing.
Liquidity unlocked, access denied: With rating rules, how TReDS leaves most MSMEs behind
Despite the government’s TReDS push, experts say the RBI’s move to ease onboarding lacks clarity as credit ratings continue to be a key bottleneck, limiting MSME participation.
Buy, Sell or Hold: DAM Capital initiates coverage on Orkla India; Citi maintains sell on Dr Reddy's Laboratories
Brokerages remain selective on Indian equities, balancing stock-specific optimism with caution. DAM Capital initiated coverage on Orkla India with a ‘Buy’, citing spices-led growth, while Morgan Stanley stayed bullish on ICICI Prudential Life. In contrast, Citi maintained a ‘Sell’ on Dr. Reddy’s due to regulatory hurdles and uncertainty around the Semaglutide opportunity, highlighting a mixed sector outlook.
GST registration to be suspended if you do not give bank account details at the earliest; These taxpayers get exemption from this
Attention all businesses! Your GST registration may be suspended if you don't submit your bank account details on time. Make sure to provide this crucial information within 30 days of registration, or before filing outbound supplies. Neglecting this requirement could lead to serious disruptions in your operations.
Small, low-risk businesses to get GST registration within 3 days beginning November 1
Small and low-risk businesses can now obtain GST registration within three working days under a new simplified scheme rolling out from Saturday. This initiative, approved by the GST Council, aims to benefit 96% of new applicants by streamlining the process for those with output tax liability under Rs 2.5 lakh monthly.
New guidelines to curb GST registration related harassment, to help in timely resolution of grievances of taxpayers
GST registration: The govt said: "It is noted that varied practices are being followed by the officers in respect of verification of documents & details provided in FORM GST REG-01. It has been observed that while processing the application, avoidable clarifications are being sought by the officers leading to delay in getting registration as well as rejection of GST registration."
GST registration: Register for GST via biometric-based Aadhaar authentication and document verification in these states
GST registration in Haryana, Manipur, Meghalaya, and Tripura will now involve biometric Aadhaar authentication and document verification. Under this, some applicants might be required to visit a GST Suvidha Kendra to complete biometric verification. Read on to find out who will be required to visit the GST Suvidha Kendra for biometric verification, and in which states is this facility already active.
What is the procedure for GST registration?
If a business operates from more than one state, the taxpayer should obtain a separate GST registration for each state.
Step-by-step guide to GST registration through Aadhaar authentication
Aadhaar authentication facility for new taxpayers has been rolled out from August 21, 2020.
Interest on PPF, savings bank deposit to be included for calculating GST registration threshold: AAR
Under the Goods and Services Tax law, businesses and individuals are required to obtain GST registration if their aggregate turnover is Rs 20 lakh or more. AMRG & Associates Senior Partner Rajat Mohan said this ruling may lead to homemakers, retired persons and freelancers taking GST registration.
How to correct errors in GST registration?
You can rectify any mistakes or change any of the details given in the application for registration either at the time of registration or even afterwards.
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