Article Archive
Every Finoscape analysis in one place, newest first.
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India Collected ₹3.73 Lakh Crore in Cesses in FY 2024-25. Did the Money Reach Its Purpose?
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.
21 Oct 202611 min read
Read More‘Undersubscribed,’ ‘Oversubscribed,’ Lottery, Pro-Rata: What IPO Allotment Terms Actually Mean
“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.
21 Oct 20264 min read
Read MoreJio Platforms’ Record Anchor Book Meets a Lukewarm Retail Crowd — What Day 1’s Numbers Actually Show
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.
21 Oct 20265 min read
Read MoreHow IPO Listing-Day Gains Are Actually Taxed
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.
21 Oct 20264 min read
Read MoreIndia’s Biggest-Ever IPO Opens Today — And Its Anchor Book Just Broke a Record
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.
21 Oct 20266 min read
Read MoreSection 74 vs. Section 73 — Why the Difference Just Saved Amul ₹43 Crore
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.
20 Oct 20263 min read
Read MoreAmul Beats Back a ₹43-Crore GST Demand — And the Case Was Never About Invoices
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.
20 Oct 20266 min read
Read MoreSEBI Finalises Revised Closing Auction Session, Market-Timing and Derivatives Settlement Framework
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.
19 Oct 20265 min read
Read MoreRBI Sanctions Amalgamation of Emirates NBD’s Indian Branches Into RBL Bank, Effective 1 December 2026
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.
19 Oct 20266 min read
Read MoreJio Platforms Fixes India’s Biggest-Ever IPO Price Band at ₹1,065–1,119 — Here’s What Changes in the Next Seven Days
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. Prepared by Finoscape Editorial Team.
16 Oct 20265 min read
Read MoreInput Service Distributor (ISD) Under GST — Registration, ITC Distribution and GSTR-6
An explainer on the Input Service Distributor mechanism under GST — mandatory registration, the Rule 39 turnover-ratio distribution formula, and the monthly GSTR-6 filing — timed to annual-return reconciliation season. Prepared by Finoscape Editorial Team.
15 Oct 20264 min read
Read MoreITAT Guwahati Quashes a ₹5.68 Crore Cash-Transaction Penalty — Not on the Facts, But Because the Department Was Six Months Too Late
ITAT Guwahati quashed a ₹5.68 crore Section 271DA cash-penalty order as time-barred under Section 275(1)(c) — six months late — without ever reaching the merits of the underlying cash receipts. Prepared by Finoscape Editorial Team.
15 Oct 20266 min read
Read MoreGSTR-9 and GSTR-9C Annual Return Filing for FY 2025-26 Is Now Live — Due 31 December, With a Portal Glitch CAs Should Know About
GSTR-9/GSTR-9C for FY 2025-26 is now open on the GST portal, due 31 December 2026 — with a separate 30 November ITC cut-off, a first-ever dual-rate reconciliation, and a reported portal glitch CAs should check before escalating. Prepared by Finoscape Editorial Team.
15 Oct 20266 min read
Read MoreIndia’s Wholesale Inflation Jumps to 11.39% in September — a Fuel-Led Spike the Street Is Reading Very Differently From Retail Prices
WPI rose to 11.39% in September 2026 from 9.92% in August — nearly double September’s retail CPI of 5.54% — led by a 25.85% jump in Fuel and Power. Prepared by Finoscape Editorial Team.
15 Oct 20266 min read
Read MoreRetail Inflation Hits a 23-Month High of 5.54%: Why September’s CPI Print Complicates the RBI’s Rate Path
MoSPI’s September 2026 CPI release put headline retail inflation at 5.54%, a 23-month high, up from 4.83% in August — landing days after the RBI’s rate hike and currency-market intervention. Prepared by Finoscape Editorial Team.
13 Oct 20265 min read
Read MoreRBI’s Biggest Currency-Market Intervention Since 2013: What the New 20% Foreign Exchange Risk Reserve Actually Requires
RBI’s 10 October 2026 currency-market package introduces a 20% cash Foreign Exchange Risk Reserve on FX hedges above USD 2 million and cuts the no-underlying-exposure derivative threshold from USD 100 million to USD 5 million. Prepared by Finoscape Editorial Team.
13 Oct 20267 min read
Read MoreDelhi High Court: A Late DRC-01 or DRC-07 Date Can’t Make a Timely GST Notice or Order Time-Barred — Aparna Collection Explained
Two writ petitions, one recurring argument: if the department’s electronic paperwork is dated late, does that make the underlying GST […]
12 Oct 20266 min read
Read MoreTCS’s Q2 FY27 Results: ₹13,884 Crore Profit, AI Revenue Past $3 Billion, and a Dividend Record Date CAs Should Flag Now
Three days after Tata Consultancy Services closed its books on the quarter ended 30 September 2026, the headline the company […]
11 Oct 20264 min read
Read MorePDS Flour Milling Stays GST-Exempt Only Within a 25% Goods-Value Line: West Bengal AAR’s Arithmetic in Darjeeling Flour Mills
West Bengal AAR holds PDS wheat-milling-into-fortified-flour exempt from GST only if the goods component stays within 25% of the composite supply’s value. Prepared by Finoscape Editorial Team.
9 Oct 20264 min read
Read MoreSmartphone Screen Protectors Now Need BIS-Standard Certification: CBIC’s Customs Instruction on the New IS 19348:2025 Mandate
CBIC has instructed Customs field formations on MeitY’s new mandatory IS 19348:2025 standard for smartphone screen protectors, effective 1 April 2027. Prepared by Finoscape Editorial Team.
9 Oct 20263 min read
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