Everything a finance person must know - re-brewed every 10 minutes
GNG Electronics reported a 72.5 percent surge in net profit to ₹56.4 crore for Q2FY27. Revenue expanded by 42 percent to reach ₹624.8 crore alongside a doubling of EBITDA. Strong market demand for refurbished information and communication technology devices drove the financial expansion.
Open for the full story →
The Securities and Exchange Board of India signed a memorandum of understanding with the Digital India BHASHINI Division. The initiative integrates artificial intelligence translation and speech tools to improve regional language accessibility. The collaboration also incorporates specific securities market terminology into the BHASHINI language models.
Open for the full story →
The Central Board of Indirect Taxes and Customs has released CBIC Circular 261/07/2026-GST addressing the 50 percent Input Tax Credit option under Section 17(4). The update covers banking companies, Non-Banking Financial Companies, financial institutions, inter-branch supplies, and related compliance procedures.
Open for the full story →
Bayer CropScience posted a nine percent rise in net profit to ₹166.2 crore for the second quarter. Revenue declined due to an uneven monsoon season that negatively impacted demand for crop protection products. The profit growth occurred despite the top-line contraction.
Open for the full story →
ITC share price increased by two percent during trading sessions. The movement positioned the stock among the top performers on the Nifty index today according to India Infoline reports. Equity market activity highlighted the positive momentum for the conglomerate.
Open for the full story →
Property tax deduction at source rules have changed from April 1, 2026, with Form 141 replacing Form 26QB. The updated framework governed by Section 393 also introduces Form 132, affecting deadlines, joint buyer transactions, correction procedures, and overall compliance.
Open for the full story →
Although angel tax has been abolished, companies issuing shares to foreign parents must still comply with Foreign Exchange Management Act pricing rules and Companies Act valuation norms. Entities are also required to complete Form PAS-3 and Reserve Bank of India FC-GPR filings.
Open for the full story →
South Korean shares erased initial gains, causing the KOSPI index to drop more than one percent due to caution ahead of United States midterm election results. Technology companies drove the downturn, while foreign investors offloaded one trillion won in equities amid heightened global market volatility.
Open for the full story →
Foreign companies face Indian resident taxation if their Place of Effective Management is in India, subject to Central Board of Direct Taxes guidelines. Entities with turnover or gross receipts of fifty crore rupees or less are exempt, while global taxation risks apply to others based on board meeting locations.
Open for the full story →
Tax professionals must navigate specific Goods and Services Tax (GST) rules regarding corporate guarantees supplied by foreign parent companies without consideration. This analysis covers valuation under Rule 28(2), reverse charge mechanisms, self-invoicing requirements, and input tax credit eligibility. Understanding these compliance standards helps businesses properly manage cross-border financial transactions.
Effective Not specified in the update
For professionals: Review existing corporate guarantee arrangements with foreign parent entities to ensure correct classification and timely reporting. · Determine the correct taxable value using prescribed methods for transactions between related entities without direct monetary compensation. · Account for tax liabilities under reverse charge mechanisms where applicable, execute mandatory self-invoicing procedures, and evaluate input tax credit claims.
Open for the full story →
The share price of Multi Commodity Exchange dropped by five percent during the trading session. India Infoline reported the price correction, reflecting downward pressure on the exchange operator's equity value. Market participants reacted to ongoing developments influencing the trading platform.
Open for the full story →
India's service sector recorded stronger domestic demand and reduced cost pressures during October, pushing the Purchasing Managers' Index to a four-month high of 55.8. Despite this expansion, subdued export orders and a noticeable slowdown in recruitment tempered overall business optimism. Service providers continue to navigate these mixed economic indicators while managing daily operations.
Effective October
For professionals: The update does not specify any regulatory filings, compliance steps, or statutory sections for Chartered Accountants, Company Secretaries, or Cost Accountants. · Professionals should note that the Purchasing Managers' Index (PMI) serves as a key economic indicator tracking business activity, new orders, employment, and pricing trends across the service economy. · Advisors can use the reported index metrics to brief corporate clients on broader economic trends such as domestic demand versus export sluggishness.
Open for the full story →
One place for all of finance - tap any card to jump in.