Brainbees Solutions Limited, the parent company of the well-known e-commerce platform FirstCry, announced on November 10, 2024, that a GST department inspection that started on November 6 had completed. The business said in a report to the stock exchanges that it answered all of the questions posed and cooperated completely
Businesses can now enter their GSTIN (Goods and Services Tax Identification Number) while making purchases on the Blinkit platform, thanks to a new feature. Albinder Dhindsa, the CEO, claims that this change is a reaction to consumer demand, especially from companies buying expensive goods like electronics. Businesses can now claim
According to media reports, the goods and services tax authorities have warned large payment aggregators like BillDesk and CCAvenue, requesting GST on the cost they charged merchants for processing digital transactions under INR 2,000. Vishwas Patel, the joint managing director of Infibeam Avenues, which runs the payments processor CCAvenue,
According to media reports, the GST Council might take into consideration a plan to charge payment aggregators (PAs) 18% GST for digital transactions with a minor value of up to INR 2,000 that are made through debit and credit cards during their upcoming meeting. Following the overnight demonetization of
Zomato, a food-tech giant, has received a tax demand and penalty order totaling over INR 3.5 lakh, adding to the flood of goods and services tax (GST) warnings it has already been receiving. On August 31st, Zomato announced in an exchange filing that the Sales Tax Officer of Delhi&
A new requirement that requires sellers on Flipkart to authenticate their goods and services tax identification number (GSTIN) via an OTP (one-time password) authentication procedure has left many vendors confused. According to sellers, Walmart-owned Flipkart may be attempting to obtain their private GST data while posing as a verification procedure
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This Article has been contributed by Harsh Kumra and Sanjana Kumar, Associates with Spice Route Legal's Corporate Practice Group. In recent times, the boom in the startup industry has given rise to another parallel ecosystem that shares a symbiotic relationship with early-stage startups — this ecosystem being the ecosystem
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The recent imposition of a 28% GST on fantasy gaming apps in India has disrupted the industry, particularly during the Indian Premier League (IPL) 2024 season. This unexpected move has hindered marketing efforts and user engagement strategies, posing significant challenges for fantasy gaming platforms during one of the most anticipated
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Amid the deluge of tax notices being slapped on companies, the GST (Goods and Services Tax) Council is receptive to complaints and is said to be providing clarifications on the same. However, the onus lies on companies to be prudent in their tax and financial compliance, said tax experts that
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The Goods and Services Tax (GST) is an extensive indirect tax structure that has revolutionised the Indian taxation domain. Moreover, the GST structure substituted and simplified a complicated web of numerous indirect taxes with a unified tax administration to facilitate the taxation procedure, making for seamless business operations. Nevertheless, one
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The new 28% GST on online gaming has produced divided opinions about the industry’s future in India. Some experts condemn the GST hike, while others see it as boosting government revenues. The Parliament’s new amendments in the Goods and Services Tax (GST) laws to levy a 28% tax
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After 75 years of independence from the British Raj, India has emerged as the fastest-growing and fifth-largest economy in the world. By the year 2020-2021, India’s per capita income has increased to INR 1.28 lakh. By August 2022, the country’s Foreign Exchange Reserves amounted to USD 572.