Is outrage over vegetable vendor’s Rs 29 lakh GST notice justified? GST rules explained

Karnataka vendor faces Rs 29 lakh GST notice over UPI payments, fuelling protests. Can the small traders be exempt from GST on UPI transactions?

The Centre has permitted manufacturers, packers, and importers to change the MRP on unsold goods until Dec 31, 2025. This will benefit FMCG companies and prevent wastage of packaging material. The revised MRP can be printed through stamping, stickers or online printing from Sept 22, coinciding with the launch of GST 2.0. Transparency in pricing is mandatory.

India and the EU are close to finalizing their Free Trade Agreement negotiations, with 60-65% of the chapters already finalized. The talks, set to end this week, will be followed by visits from EU Trade Commissioner Maros Sefcovic and Agriculture Commissioner Christophe Hansen.

Persistent heavy rainfall in August has damaged kharif crops in Punjab, Haryana, Karnataka, Andhra Pradesh, and Telangana. Punjab and Rajasthan are facing major crop losses, while other states have localized impacts. The floods have damaged paddy, sugarcane, cotton, and horticulture crops. Inflation risks may arise if the damage continues.

Indian government expands fast-track approval for mergers and amalgamations to promote ease of doing business. This will also encourage "reverse flipping" of Indian start-ups and companies from overseas to India. Ministry of Corporate Affairs amends rules to include more types of companies, such as unrelated unlisted companies with borrowings below Rs 200 crore and no defaults.

The US doubling of tariffs on Indian goods is expected to harm India's economic growth by 0.5-0.6% in the current fiscal year. The impact could be worse if the tariff uncertainty continues into the next fiscal year. However, domestic factors such as strong GDP growth, tax cuts, and a recent GST rate cut may help support growth.

Vodafone Idea has filed a petition against DoT's demand of Rs 9,449.08 crore for AGR dues, stating that it goes against the SC's earlier ruling. The company argues that allowing selective reassessment would be arbitrary and could affect its financial stability and ability to continue operations beyond March 2022.

Ceat has acquired Camso from Michelin for $225 million, with an estimated revenue run rate of $130-150 million and an addressable market of $2 billion. Brokerages expect the deal to bolster Ceat's international business and contribute 8% to its FY27 financials. However, there are near-term concerns and potential long-term benefits, with a focus on integration challenges.

Phoenix Mills, a mall developer, aims to expand its hospitality portfolio by investing Rs 3,500 crore to triple its current size to 1,800 keys. The company already has a St Regis in Mumbai and a Courtyard by Mariott in Agra, and is developing a Grand Hyatt in Bengaluru. With a focus on high performance and revenue, the company also plans to expand its mall and retail operations.

The SAT has allowed Jane Street's appeal against SEBI's interim order and has asked SEBI to clarify why documents were not shared. SEBI claims it has already shared relevant data and is conducting an ongoing investigation. Jane Street is demanding access to internal documents and questioning the formation of a new investigation team.

The Federation of Automobile Dealers Association (FADA) has urged Prime Minister Narendra Modi to address the issue of compensation cess under the new GST 2.0 rates. With an estimated 600,000 unsold passenger vehicles in the system, valued at Rs 2,500 crore, dealers are facing pressure ahead of the price cuts.

Bengaluru's Namma metro yellow line will now operate with a fourth set of trains, increasing the frequency to every 19 minutes. The first train will depart at 6 am on weekdays and 7 am on Sundays. The last train timings remain unchanged. The 19.15-km line, which connects RV Road with Bommasandra, has seen a higher ridership than expected since its opening on August 11.

Godrej Enterprises Group (GEG) has rebranded Interio furniture brand to boost turnover to ₹10,000 crore in 3 years. Executive director Nyrika Holkar shares plans for brand refresh, investments, and expansion to 1,500 stores. GEG aims to be a top choice for modern Indian living, with a focus on consumer and industrial sectors.

Two more IPOs, Neilsoft and PROZEAL Green Energy, have received the SEBI nod. Neilsoft's IPO includes a mix of fresh issue and offer-for-sale, with promoters and key shareholders diluting their stake. PROZEAL's IPO comprises a fresh issue and offer for sale, with the company planning to use the proceeds for various purposes.

Satin Creditcare Network, a microfinance institution, is focusing on expanding its lending operations despite the cautious approach of banks and small finance banks. The company's Chairman & MD, HP Singh, discusses the MFI's credit growth, branch expansion, fundraising plans, and strategy to grow its non-MFI book.

The Union food ministry has requested states to remove ineligible beneficiaries from the free ration scheme PMGKAY by the end of the month. Previous exercise found 10% of 800 million beneficiaries to be ineligible. Regional differences in waitlist, with Delhi having 1.1 million and Maharashtra having 88,000. Reverification underway to improve targeting and add new beneficiaries.

India's solar open access capacity experienced a dip in the first half of 2025, but recovered in the second quarter thanks to waivers and project launches. Maharashtra led in installations, while Karnataka maintained the highest cumulative capacity. The country also saw significant growth in rooftop solar, with 2.8 GW added in the first half of 2025.

RBL Bank plans to boost its retail book to 55% by FY26 using CRM and bundled offerings. The focus is on cross-selling and expanding the customer base through personal and salary accounts. The bank aims to open 210 branches and launch a wealth management platform, targeting Gen Z and young salaried customers through a balance of physical and digital acquisition.

Srinivas Inteji, a retired IAS officer with over four decades of experience in corporate regulation, financial services, and public policy, has been appointed as the Chairperson of the National Stock Exchange's Governing Board. He has also been approved by market regulator SEBI and previously served as Union Secretary in the Ministry of Corporate Affairs.

ZELIO E Mobility introduces the new Gracyi electric scooter, designed for urban commuters with three battery options, a top speed of 25 km/h, and a range of 140 km per charge. The upgraded version boasts improved ground clearance, a digital meter, and LED headlamp, making it rider-friendly. ZELIO's expanding dealership network and emphasis on practicality aim to make electric mobility accessible.

Real estate prices in India's top cities have skyrocketed by 50%, leading to affordability concerns for buyers. This has resulted in a decline in demand for affordable housing and a rise in demand for premium housing. Many buyers are unhappy with the limited and unsatisfactory options available, particularly in terms of location, construction quality, and small unit sizes.

Nepal witnesses youth-led civic movement demanding political system reform, PM Oli resigns and President accepts, paving way for new government. Kathmandu mayor Balendra Shah gains popularity for activism and unconventional methods, openly supporting protesters and being considered as potential interim PM.

The Department of Consumer Affairs has granted permission for manufacturers to use stickers to revise the MRP on unsold stock after changes in GST rates. The revised price must be displayed through stamping, stickers, or online printing, but the original MRP cannot be overwritten. Companies must advertise the changes and inform authorities. This permission is valid until December 31, 2025.

Tesla's U.S. market share has hit an eight-year low due to competition from other automakers offering better electric vehicle options and incentives. The company's focus on robotaxis and humanoid robots has caused delays and cancellations of cheaper EV models. While their core business remains profitable, Tesla's market share continues to decline as it faces fierce competition.

Indian equity benchmarks continued their upward trend, with Nifty 50 and Sensex both rising 0.39%. Nifty Bank was steady, while small and midcap stocks performed in line with the benchmarks. Infosys saw the highest gains in Nifty 50, while Trent's shares faced losses. Despite concerns over global trade talks, the market is expected to remain positive with the possibility of a FED rate cut.

Nepal sees a youth-led uprising against government's ban on social media and corruption. Prime Minister Oli resigns after protests organized by activist Sudan Gurung and Gen-Z. Social media used to spread awareness and organize demonstrations. Movement represents peaceful resistance and demands change in government's approach.

House Democrats demand release of all records related to Jeffrey Epstein case. Investigation uncovers JPMorgan Chase's continued business with Epstein despite his indictment. Bank processed over $1 billion in transactions for 15 years, raising concerns about money laundering. Ties with high-profile individuals and lucrative deals also questioned.

At the IAA Mobility Show in Munich, Germany, BMW has revealed the iX3 electric vehicle, the first to use the Neue Klasse platform and showcasing a new design. India can expect the iX3 to be available in late 2026, with impressive features such as a 108.7kWh battery, 400kW DC fast charging, and a powerful dual electric motor setup producing 463 bhp and 645 Nm of torque.

Tech stocks, especially in the IT sector, experienced a rise in trading on Dalal Street due to Infosys' potential share buyback and a favourable currency exchange rate. Other factors included a widespread buying trend, with Infosys leading the rally and the rupee depreciation benefiting IT companies.

Dev Accelerator is launching an IPO worth Rs 143.35 crore, with bidding open from September 10-12. The IPO will only offer fresh shares at a bidding range of Rs 56-61 per share. The company's stock is currently trading at a 16% premium, suggesting a potential listing price of Rs 71 per share. The proceeds will be utilised for company growth.

The Mumbai Railway Vikas Corporation (MRVC) has invited bids for 2,856 air-conditioned (AC) Vande Metro coaches worth Rs 21,000 crore for the Mumbai suburban rail network. The project presents a major opportunity for coach manufacturers in India. The top contenders are Alstom, BEML, and Titagarh Rail.

Elara Capital has reduced SpiceJet's target price by 37% to Rs 39 due to delayed fleet growth and a lowered earnings forecast. Despite maintaining an 'Accumulate' rating, the brokerage is concerned about Boeing's delivery, competitors' fleet renewal, and a decrease in EPS estimate for FY26. They are waiting for fleet expansion to recommend further growth.

ChargeZone, India's largest charge point operator, has acquired Zerovolt's Wadala charging facility in Mumbai in an all-cash deal. Zerovolt, known for powering India's first electric private intra-city bus operator, will now focus on building an integrated EV ecosystem for commercial fleets. ChargeZone's acquisition further strengthens its position as the country's largest CPO.

Oracle, a Texas-based tech company, has announced layoffs in its cloud unit, affecting teams in India and the US. The news was shared during "business update" calls, causing anxiety among employees. Many have already lost their jobs, with some describing the process as abrupt and impersonal. The company has been facing backlash for its handling of the layoffs.

Amanta Healthcare, a pharmaceutical company, had a successful listing on the stock market with its IPO being oversubscribed by 82 times. The company's share price opened at a 7% premium on both NSE and BSE, trading at Rs 137 and Rs 1367 respectively. The IPO raised Rs 126 crore through the issuance of 1 crore shares. Amanta specializes in sterile liquid medicines.

Three brokerages have recommended a "Buy" on Samvardhana Motherson, a stock in the auto sector. Motilal Oswal, Jefferies, and ICICI Securities have set target prices of Rs 114, Rs 110, and Rs 115, respectively, with upside potential ranging from 16% to 22%. The positive outlook is driven by the company's expansion plans, global presence, and diversified business model.

Hero MotoCorp has launched its Xoom 160 maxiscooter in India to compete with Yamaha Aerox 155. The scooter has a liquid-cooled engine and is designed for young riders seeking power and adventure. Priced at Rs 1.48 lakh, it is available at Hero Premia dealerships and can be booked online.

Indian equity indices open higher on Tuesday, with Nifty and Sensex rising 0.36% and 0.43% respectively. Bank Nifty, small and midcap stocks also see gains. Expectations of earnings boost from GST reforms, especially in auto sector, drive market momentum. Nasdaq's record high is good for US markets, but Fed may pause due to inflation and unemployment. Infosys among early gainers.

Infosys, a top IT company, is experiencing a 3% increase in its share price ahead of a crucial board meeting on September 11. The meeting will discuss a buyback of equity shares, the first since 2023, following strong first-quarter results. Shareholders are eagerly anticipating the outcome, as the company's share price has dropped by 15% in 2025.

Peter Navarro, US Senior Counsellor for Trade and Manufacturing, faces backlash for attacking India on social media over purchasing Russian oil before the Ukraine invasion. Despite being called out for spreading false claims, Navarro accuses India of using "blood money" to fund the war. His comments have sparked a heated debate, with many Indians speaking out against him.

Vedanta has offered Rs 17,000 crore for Jaiprakash Associates' assets, but will need approvals that could take 3-6 months. This is surprising as the businesses do not align with Vedanta's core portfolio, but the payment terms are favorable. However, the turnaround visibility is unclear, and there are concerns about the strategic fit.

The government has added a new provision, Section 164A, in the Insolvency and Bankruptcy Code (Amendments) Bill, 2025 to prevent company promoters from diverting funds before filing for personal insolvency. This allows resolution professionals to reverse avoidance transactions with no time limit.

Market news: Tuesday saw important market updates, with investors keeping an eye on new deals, expansions, and policy changes in the IT, infrastructure, and consumer sectors. Indian equity indices closed with marginal gains, with the Sensex rising 76.54 points and the Nifty edging up 32.15 points. Stocks to watch include Infosys, IRB Infrastructure, Brigade Enterprises, Godrej Consumer, and more.

NPCI data reveals UPI consumer spending growth in debt collection, groceries, and securities in August. Food and beverage sector shows signs of recovery, but online gaming ban causes decline. UPI transactions reach 20 billion, with slight increase in merchant transactions.

Interior design startup Flipspaces has raised $50 million in its Series C round, with $15 million from new investors. The funds will be used to expand operations, enhance technology and supply chain, and possibly acquire other companies. This reflects the increasing investor focus on proptech, along with other real estate startups.

Amazon India is preparing for its largest shopping event by increasing logistics, having a high number of sellers, and offering lower prices due to GST cuts. The Great Indian Festival, beginning September 23, will have a high demand from pent-up demand and GST reduction. Amazon has also improved its systems, lowered referral fees for sellers, and hired 150,000 seasonal employees.

Newton School, an edtech startup, has experienced a 40% rise in enrollments for courses in AI, Gen AI, and data science, mainly through referrals. Their offerings include a B.Tech program, certifications, and a career acceleration sprint for early professionals.

Hero MotoCorp has appointed Harshavardhan Chitale as its next CEO, effective January 2026, signaling its focus on electric mobility and premium motorcycles in a competitive two-wheeler market. Chitale, with global experience in innovation and transformation, will take over from interim CEO Vikram Kasbekar.

Car and SUV registrations increased by 1% in August, and dealers are expecting a further boost in sales in September due to festive demand and GST clarity. Two-wheeler sales also saw a rise of 2%, while commercial vehicles saw a significant increase of 9%. However, three-wheeler sales declined by 2%.

The election for India's vice president will take place on September 9, with CP Radhakrishnan of NDA and B Sudershan Reddy of INDIA bloc as the candidates. The position offers perks such as a monthly remuneration of Rs 4 lakh and free accommodations, medical care, and staff, but there is no designated salary. This is because the VP is also the ex-officio Chairman of the Rajya Sabha.

Infosys board to discuss buyback of equity shares in upcoming meeting. Share price in focus after ending flat with negative bias. Previous buyback in 2022 saw 60.4 million shares repurchased. The decision is expected to be shared after the meeting.