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The CAG reports ₹3,72,982 crore of cess collected in FY 2024-25. A visual explainer on collection, transfer and utilisation, with health, education, road and GST compensation cess.
“Undersubscribed” doesn’t mean an IPO is in trouble, and “oversubscribed” doesn’t mean every bidder loses. Here’s how subscription ratios, pro-rata QIB allotment and the retail lottery actually work — explained through Jio Platforms’ own Day 1 split.
Jio Platforms’ public IPO cleared 3.04x overall on Day 1, with QIB demand running 9.04x — but the retail category stayed undersubscribed at 0.73x. Here’s what that split actually means, and what it doesn’t, for clients still deciding whether to apply.
The holding period for IPO-allotted shares starts on the allotment date, not the listing date — which is why almost every “sell on listing day” decision is a short-term capital gain taxed at 20%, not the long-term 12.5% rate, and why the ₹1.25 lakh exemption doesn’t apply to it.
Jio Platforms opens for public subscription today after its anchor book drew ₹8,110 crore from 212 institutions — demand of over ₹2.5 lakh crore, more than 30 times the anchor allocation. Here’s what’s new since Finoscape’s 16 October price-band coverage, and the tax-timing detail every applicant should know before listing day.
Every GST demand rests on one of two foundations — ordinary Section 73 or fraud-grade Section 74 — and which one the department picks changes the penalty, the limitation period, and the taxpayer’s whole defence. Here’s the difference, and why it mattered in Amul’s ₹43-crore case.
Gujarat High Court quashed a ₹43.43-crore IGST demand against Amul’s parent GCMMF, holding that not cross-charging head-office services to branches isn’t automatic “suppression” under Section 74 where the branches have full ITC — CBIC’s own Rule 28 circular did the heavy lifting.
SEBI has revised the Closing Auction Session, market timings, and expiry-day derivatives settlement methodology — a market-microstructure overhaul effective 7 December 2026 (8 February 2027 for carry-forward order rules) that touches every trader, broker and listed-company closing-price clause.
RBI sanctioned the amalgamation of Emirates NBD Bank’s Indian branches into RBL Bank under Section 44A(4) of the Banking Regulation Act, effective 1 December 2026 — with a DICGC combined-cover implication worth flagging to clients.
Jio Platforms fixed its IPO price band at ₹1,065–1,119 per share — a ₹30,213 crore fresh issue that would be India’s largest-ever public offering. Opens 21 October, lists ~28 October.
Knowledge Centre
Notifications, circulars, rate changes and GSTN advisories.
Explore 02Assessment, TDS, capital gains and CBDT positions.
Explore 03Cross-border flows, LRS, ODI/FDI and RBI master directions.
Explore 04MCA filings, governance, CSR and corporate compliance.
Explore 05Tribunal, High Court and Supreme Court rulings that matter.
Explore 06Quick scenarios — pick an answer, then see the reasoning behind the right one.
Explore 07Section-by-section walkthroughs of the statutes.
Explore 08Artificial intelligence developments affecting tax, law and professional practice.
Explore 09Customs duties, classification, valuation and trade-related rulings.
Explore 010Key tax and regulatory filing dates for professional teams.
Explore 011Important statutory notifications and implementation updates.
ExploreGST Crossword · Coming soon
Five minutes. Ten clues. One practical way to test what you retained from this week’s GST developments.
In the meantime, the daily Quiz of the Day lives inside Today's Intelligence.
Clue 06 · Across
A notice issued before a tax demand is confirmed.
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