Starting July 2025, the GSTN will make the GSTR-3B form non-editable to enhance consistency and reduce revenue leakages. Taxpayers must use GSTR-1A to amend outward supplies before filing GSTR-3B. This shift requires businesses to ensure real-time reconciliation and error correction, placing greater responsibility on internal controls.
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NeoLiv, a Mumbai-based realty developer, has successfully sold all 263 residential plots in its inaugural project, 'NeoLiv Grand Park' in Kundli-Sonipat, Haryana, generating over Rs 300 crore in sales. The project, spanning 19.46 acres, experienced demand nearly four times the available inventory, highlighting strong buyer confidence.
European and Asian stocks climbed, mirroring Wall Street's optimism fueled by easing trade tensions and South Korea's political developments. Investors are closely monitoring US trade policy and awaiting key economic data, including the non-farm payrolls report. Technology stocks led gains, while Treasury yields remained stable after recent increases, and commodity markets saw slight gains in crude oil prices.
Aakash Educational Services has petitioned the NCLT in Bengaluru to dismiss Byju's petition, requesting that EY and Ajay Shah be included. AESL alleges a conflict of interest, pointing to EY's prior advisory positions in transactions now being challenged by Think & Learn's resolution professional. AESL claims EY played a key role in financial and legal matters.
IndiGo will launch direct daily flights connecting Mumbai and Adampur in Jalandhar. The service starts on July 2, 2025. Adampur becomes IndiGo’s 92nd domestic destination. This new route aims to boost connectivity for business and leisure travelers. It will also strengthen trade between Punjab and Mumbai. The airline focuses on affordable and hassle-free travel.
Procter & Gamble, the consumer goods giant, will implement significant layoffs. Around 7,000 employees, or 6% of the global workforce, may lose their jobs. This decision comes amid rising input costs and softening demand. The company aims to streamline operations and exit select markets. Andre Schulten announced the restructuring at a conference in Paris.
Eternal Limited shares saw a significant jump. This surge follows Morgan Stanley's positive outlook. Eternal's Q4 earnings showed a profit decline. However, operational revenue increased substantially. The company remains a key player on the Nifty50. Other gainers included Power Grid and Reliance Industries. Some companies like Bajaj Finance experienced declines.
The rupee weakened by 7 paise to close at 85.55 against the US dollar, influenced by volatile equity markets and rising crude oil prices. Investors were cautious ahead of GDP data release, while the dollar strengthened after a US court ruling on tariffs. Despite FII selling, India's growth outlook remains robust, as highlighted by the RBI.
Ola Electric's stock prices plunged following the release of disappointing quarterly results. The electric vehicle company reported a substantial net loss for the fourth quarter and the full financial year. Revenue from operations also experienced a sharp decline. Despite these challenges, Ola Electric expresses optimism about achieving profitability in the coming financial year.
Indian markets are poised for an upswing, fueled by the RBI's significant rate cut and optimism surrounding a potential US-India trade agreement. Investors will closely monitor inflation data, monsoon progress, and global trade discussions. However, global headwinds, including potential shifts in US tariffs and geopolitical tensions, could induce market volatility.
Bharat has formally requested consultations with the United States under the WTO. This challenges American tariffs on automobile parts. The move follows Bharat's earlier decision to reserve the right to impose retaliatory duties on select US goods. This is in response to Washington’s tariffs on steel and aluminium. Bharat seeks to discuss the implications of the US measure.