GST RETURNS
Rs 35 lakh revenue from Rs 500 service: Two Hyderabad childhood friends built an app helping NRIs hire personal assistants in India
Two Hyderabad childhood friends, Nishant Parepalli and Shashank Veer Pothaduri, launched Shoppin in 2023. The startup connects customers in over 20 countries with personal shoppers and assistants in India. Starting at Rs 500, its services include shopping, property checks and paperwork. The company reported Rs 33 lakh revenue in FY26 and Rs 35 lakh between April and October 2026.
The new trends reshaping India's art market
Art Mumbai is back, showcasing a wider array of international exhibitors while highlighting the evolution of art collections. With community initiatives and social media playing pivotal roles, art accessibility and engagement are being transformed in India.
Rs 12.6 lakh salary, Rs 9.2 crore transactions: Telecom company employee lands on Income Tax radar over businesses he claims he never owned
A telecom company employee earning Rs 12.6 lakh annually allegedly faces questions over undisclosed income of Rs 9.2 crore after fraudsters misused his PAN and KYC documents to create fake businesses and obtain GST registrations. The entities reportedly recorded transactions worth Rs 6.5 crore in two months. Delhi Police's Economic Offences Wing has registered an FIR and is investigating the alleged identity theft.
Samvat 2083 begins: Will the good times roll for Indian businesses?
Samvat 2083 begins with Indian businesses entering the new year on a note of cautious optimism. Strong GST collections, festive demand and the RBI’s upgraded FY27 growth forecast point to economic resilience. But weak hiring, easing manufacturing momentum, food inflation and crude oil risks cloud the outlook.
Muhurat Trading 2026: Sensex falls 29 points, Nifty below 25,000 as market snaps 6-day explosive rally on Diwali. What lies ahead in Samvat 2083?
The Indian stock market experienced sharp gains during the Muhurat Trading session on Diwali. Sensex increased by 350 points, surpassing 81,380, indicating strong investor interest. Nifty 50 rose over 80 points, crossing 23,100 as well. Tata Steel, Sun Pharma, BEL, and HDFC Bank contributed to these gains, while some stocks faced losses. Overall, the market breadth remained positive, with more advances than declines.
Market may deliver bumper returns by next Diwali as valuations and earnings align, says Raamdeo Agrawal
Indian equities enter Samvat 2083 on a strong note, with Nifty surging 8.6% last week and reclaiming 25,000. Motilal Oswal Chairman Raamdeo Agarwal cites improving earnings, ₹45,970 crore in FPI inflows, stable currency and easing global pressures as potential drivers.
'Ever seen what a widow looks like?': Accused's chilling threat to Tech Mahindra's ex-APAC head before murder
A fatal conflict over parking in Faridabad reached a deadly climax when Monu Sharma shot Paramjeet Dhankhar. Just hours prior, Dhankhar had taken his concerns to the police regarding threats from Sharma. In a calculated move, Sharma summoned Dhankhar to the parking lot, where he unleashed a barrage of nine shots from his licensed firearm, killing Dhankhar instantly. Police have apprehended Sharma and are investigating the roles of his family.
Britannia Industries plans further price hikes amid food inflation impacting margins and boosting rural demand
Britannia Industries is responding to persistent inflation by considering additional price hikes for its products. The company has already raised prices by 3.5% in the September quarter, but this only partially addresses rising costs. Increased competition from companies like Reliance Industries adds pressure on their pricing strategy and market share. Demand is improving, particularly in rural and semi-urban markets, which reflects changing consumption patterns.
Supreme Court agrees to hear DMK leader's plea challenging rejection of election petition
The Supreme Court agreed to hear a plea by DMK leader K R Periyakaruppan regarding the election results. Periyakaruppan is contesting TVK candidate R Seenivasa Sethupathi's victory by one vote in Tamil Nadu Assembly elections. The Madras High Court had previously rejected Periyakaruppan's election petition challenging the results declared on May 4. The plea argues that a significant number of postal ballots were rejected, affecting the results.
Passenger wins Rs 3,100 after taking IRCTC to court over just Re 1; Kerala man challenges train ticket refund shortfall; consumer court delivers verdict
A Kerala passenger won Rs 3,100 in compensation after taking IRCTC to the consumer commission over a Re 1 shortfall in a cancelled train ticket refund. The Kasaragod commission termed the shortfall a deficiency in service. Meanwhile, Indian Railways revised its confirmed ticket cancellation and refund rules in March 2026.
FICCI makes recommendations to FM ahead of Budget 2027-28, highlights LTCG exemption, TDS relief and faster tax appeals
FICCI has recommended the restoration of long-term capital gains tax exemption on listed shares in Budget 2027-28. The organization highlighted concerns regarding the withdrawal of foreign portfolio investments and the impact of capital gains tax. Additionally, it requested the government to implement lighter TDS rules and resolve backlog issues in tax appeals. FICCI emphasized the need for measures to provide certainty to investors over the long term.
Cancelled flight ticket? GSTAT says airlines can refund GST to passengers and claim it back from the government
Taxpayer wins GST refund denial case after depositing GST on airline ticket with the govt and later refunding the GST back to passengers due to cancelled ticket; GSTAT orders GST department to issue GST refund with interest to taxpayer
Physical gold vs gold ETF: Which can be more tax-efficient for investors?
During Diwali, many choose to invest in gold due to its cultural significance and potential financial returns. It's crucial to grasp the tax implications when deciding between physical gold and gold ETFs. Purchasing physical gold triggers GST and varied capital gains taxes depending on how long it's held. Conversely, gold ETFs offer more favorable conditions for capital gains. Investors need to weigh their goals to make the best choice.
Innefu Labs’ AI platform uncovers suspected Rs 5,700 crore GST fraud network
According to Innefu Labs, Prophecy Eagle I identified several patterns, including the alleged reuse of the same facial identity across multiple business registrations in different geographical regions within a month.
Capex key to India's growth strategy, fiscal prudence remains top priority: Sitharaman at HSBC event
Finance Minister Nirmala Sitharaman highlighted the importance of capital expenditure in driving economic growth in India. She stated that government spending would be guided by fiscal discipline while encouraging private sector investment. Sitharaman noted that higher public investment has historically generated strong economic returns over time. She reassured that the Indian economy remains robust, with no sign of fragility.
GST decriminalisation decisions set benchmark for trust-based governance: CII
The Confederation of Indian Industry praised the GST Council's recent decisions aimed at decriminalising certain offences. The Council recommended raising the prosecution threshold from Rs 1 crore to Rs 5 crore, promoting trust in businesses.
GST reforms: Easier registration for small e-commerce sellers, faster refunds to take effect Nov 1
Simplified GST registration processes will benefit small sellers using e-commerce platforms without physical presence in multiple states. The GST portal will offer user-friendly interfaces and clearer documentation requirements for registration applications. Automatic sanctioning of full refund claims for excess balance in electronic cash ledgers will expedite the refund process. Flexibility in post-supply discount taxation will support industries with volume-based incentives and trade schemes.
New GST registration route allows online sellers to expand using ecommerce warehouses as local bases
Starting November 1, small online sellers will have a new option for GST registration. They can use ecommerce warehouses as local bases in other states, promoting nationwide sales. This initiative is part of a broader effort to simplify regulations and reduce expansion costs for small traders. Eligible sellers must meet specific conditions, including tax liability limits and operator consent.
GST return forms likely to be tweaked to curb mismatches
The government is looking to revamp GST return forms to minimise discrepancies between reported sales and tax payments. Draft forms will be available for public feedback starting November 1 and the changes take effect on April 1, 2027.
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