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The Hindu
29-05-2025
- The Hindu
Hyderabad bizman duped of ₹2.69 lakh in online scam
A 33-year-old businessman from Hyderabad was duped of ₹2.7 lakh by fraudsters posing as dealers of 'return stocks' or goods which have been returned by customers on leading e-commerce platforms. The scam began on April 9, 2025, when the victim received a call from a Kolkata-based number. According to the Cyber Crime Wing of the Hyderabad police, the caller introduced himself as a seller dealing in 'return stocks' from Flipkart and Amazon, claiming to offer items such as school bags, fans, crockery, and shoes at wholesale rates. Swayed by the seemingly genuine offer, the victim requested product photos and received images of school bags. The fraudster sent copies of his Aadhaar card, Voter ID, and PAN card. Upon online verification, the Aadhaar and Voter ID appeared authentic, further convincing the victim of the deal's legitimacy. He then requested a formal quotation and proceeded to place an order for 750 school bags, 25 mist fans, and 60 normal fans. The fraudster claimed to have dispatched the consignment via a transport company named Maa Vaishno Transport and promised delivery within five days. The victim made an initial payment of ₹18,000, but the delivery was delayed. When he followed up, the fraudster claimed the consignment was stuck in Warangal. When the victim asked for a refund, the fraudster promised delivery by April 28. However, the victim grew suspicious and attempted to verify the transport company. He discovered that the contact number provided was fake, and subsequent enquiries revealed that no such logistics firm existed in Bardhaman, West Bengal. Meanwhile, 25 days later, the fraudster sent a train ticket, claiming he was travelling to Hyderabad to deliver the goods personally. Despite the assurance, he later switched off his phone, though he remained active on WhatsApp. By the end of the ordeal, the victim had transferred a total of ₹2,69,530. Citizens are advised to verify business credentials such as GSTIN, trade licences, and company registration before entering any transaction. All suspicious activities or fraudulent calls should be reported immediately via the cyber crime helpline 1930 or online at
Mint
26-05-2025
- Business
- Mint
Govt relaxes rules to boost GST registration among small businesses
New Delhi: The number of micro, small, and medium enterprises (MSMEs) with Goods and Services Tax (GST) registration is set to rise after the Central Board of Indirect Taxes and Customs (CBIC) asked its officials to relax scrutiny for such businesses, according to two people aware of the development. MSMEs contribute around 30% of India's GDP. CBIC's move comes after MSMEs raised concerns about excess and non-uniform scrutiny in the registration process during stakeholder consultations with the MSME ministry and CBIC, the people the meeting, CBIC asked its registration officials to reduce physical verification and complete the process in seven days if the business is not found to be risky during the common analysis. Also read: Should you register for GST? Here's everything you need to know.'After the consultation, CBIC has issued guidelines to its officials to make the registration process easier for businesses. MSMEs are likely to be beneficiaries of these directions," said one of the persons cited above. Businesses with an annual turnover of ₹40 lakh for goods and ₹20 lakh for services are required to register for GST and obtain a GST Identification Number (GSTIN). No standard procedure According to a copy of the CBIC order dated 17 April, which Mint has reviewed, businesses said GST officers had sought additional documents along with the GST REG-01 form, the first step in registering for GST. These documents were not a part of the list of documents to be appended with the form, they said.'It is noted that varied practices are being followed by the officers in respect of verification of documents and details provided in FORM GST REG-01. It has also been observed that while processing the application, avoidable clarifications are being sought by the officers, leading to delay in getting registration as well as rejection of applications," the CBIC order said. These clarifications were related to things like proof of principal place of business, constitution of business, and identity details of the authorised signatory, the order said.'While on one hand there is a need to prevent registration of fraudulent firms created for passing on input tax credit (ITC) without any underlying supply, on the other hand, there is a need to ensure that genuine applicants seeking registration are not unduly harassed," read the order. 'Seek minimum documents' Now, officers have been told to seek the minimum number of documents required for GST registration. For instance, to prove that an entrepreneur is starting a business on a property owned by them, GST officers will only seek the latest property tax receipt, municipal khata copy, or copy of the electricity bill, and any one these is enough for proof, said the order. For businesses that operated from rented premises, a copy of the rent or lease agreement along with a copy of the property tax receipt, municipal khata copy or electricity bill copy is sufficient, it added. In cases where the GST officer has sought a valid clarification in an applicant's registration, the applicant has seven days to to respond, and the GST officer must accept or reject the application within seven days of receiving the clarification, the order said. Skewed GST contributions The contribution of various types of businesses to GST revenue is highly skewed, according to data released by the government seven years after GST was implemented. It showed that as of June 2024, publicly listed companies, which comprised about 0.5% of taxpayers, contributed a little over 34% of GST revenue, while proprietorships, which comprised about 80% of taxpayers, contributed just 13.3%, and partnerships, which comprised 10% of taxpayers, contributed 7.31%.India's 6.4 crore MSMEs are mostly proprietorships or partnerships. Also read: Tax rate revamp on GST Council agenda; India to push FATF to grey list Pakistan The streamlining of GST registration is likely to make the process easier for such companies and increase their contribution to GST revenue, said Vinod Kumar, president of India SME Forum, an industry association. "But the implementation needs to be comprehensively followed across states. There are issues faced by MSMEs in selling their goods and services between states," he said. 'While the CBIC has taken a progressive step through this circular, its full implementation effectiveness would be enhanced through complementary circulars from state GST authorities. A synchronised approach across central and state jurisdictions would help achieve the intended objective of a streamlined registration process. We look forward to aligned directives from state authorities to ensure uniform implementation of the circular," he added. Hurdles for small businesses Mint reported in March that while registering for GST as a freelancer or small business owner seems simple on paper, it is much more complicated in reality. That's because GST officers often ask for additional allied registrations, such as shops and establishment licences, MSME Udyam certificates and no-objection certificates, among other things, though these are not mandated by law. This makes the process tricky for sole proprietor businesses, such as freelancers or those running an inventory-free e-commerce platform, as they may not even qualify for some of these certificates or licences. Also, standard operating procedures related to GST registration are not well defined, and the on-ground practices followed vary from jurisdiction to jurisdiction, Ranjeet Mahtani, partner, Dhruva Advisors told Mint at the time. 'Consequently, the documentation requirements vary depending on the GST officer handling the case." This means applicants will only know what extra paperwork is needed once the officer raises an enquiry, causing unexpected delays. 'These practical challenges often lead to confusion, delays and additional compliance burdens," Vijaykumar Puri, partner at VPRP & Co LLP, Chartered Accountants, told Mint at the time. Also read: Why 'record' gross GST collections in April don't tell the full story
Hindustan Times
23-05-2025
- Business
- Hindustan Times
Tally MSME Honours Marks the Fifth Year of Championing MSME Innovation and Growth
Tally Solutions Pvt Ltd, India's leading business management software provider, has announced the launch of the fifth edition of its flagship annual initiative - Tally MSME Honours. Building on the momentum of four successful years, the initiative continues to recognize and celebrate emerging entrepreneurs who are shaping the future of India's MSME ecosystem through innovation, resilience, and impact. The nominations will be open for all businesses with an annual turnover of less than INR 250 crores and a valid GSTIN number. The entries can be submitted by interested businesses or people who know such businesses via this link: by June 10th. This year, the initiative is expanding its reach with seven events across key cities: Delhi, Bangalore, Mumbai, Kolkata, Jaipur, Ahmedabad, and Chennai, to celebrate and honour the remarkable changemakers driving impact on the ground. Over the last four editions, Tally MSME Honours' has received over 27,000 nominations with over 1500 entries from women-led ventures, making it one of the biggest platforms globally to celebrate MSMEs. This year, Tally expects a record-breaking 20,000 nominations. The winners will be felicitated on International MSME Day—June 27, 2025. The honours will also spotlight MSME success stories from across the Middle East, Africa, Bangladesh, and Nepal, in addition to India. Addressing this initiative, Ms. Jayati Singh, Chief Marketing Officer, Tally Solutions, said, 'The fifth edition of Tally MSME Honours marks more than a milestone; it represents a growing movement. What started as a platform to recognise MSMEs has evolved into a rich tapestry of stories that not only celebrate their courage and commitment but also serve as a source of inspiration, learning, and growth. At Tally, we believe that every business, no matter how small, holds the power to create meaningful change. Through this initiative, we've had the privilege of spotlighting over 600 such stories across India, the UAE, Saudi Arabia, Bangladesh, Nepal, Indonesia, and Africa. This year, we look forward to discovering even more changemakers as we continue this journey of collective insight and progress.' With a focus on lasting impact, Tally MSME Honours goes beyond recognition to meaningfully elevate and empower entrepreneurial voices. The initiative offers continued opportunities for growth and visibility, with past winners becoming part of a thriving community of changemakers. Through industry panels, business forums, and ecosystem events, they gain a platform to share their journeys, strengthen partnerships, and drive sustained impact. Tally MSME Honours 2025 will feature the following award categories: The nomination entries will be judged by an esteemed panel comprising experts from the field of technology, the MSME domain, and the media. About Tally Solutions Pvt LtdTally Solutions Pvt Ltd is a tech and innovation-led company providing business management software globally. Established in 1986, it has revolutionized business operations with simple yet powerful solutions. Its flagship product, TallyPrime, integrates accounting, inventory, compliance, and banking into a unified platform, serving over 2.5 million businesses and 7 million users across 100+ countries. Tally has expanded into the Account Aggregator ecosystem with TallyEdge, enabling easier access to financial services through collaboration with Banks and NBFCs and TallyCapital, which enables easy and secure lending to help entrepreneurs grow their business with confidence. Tally's commitment to skill-building and making youth employable is reflected in Tally Education, which operates across 1,000+ centers in 400+ towns, equipping professionals with industry-relevant expertise. With an unwavering focus on innovation and simplicity, Tally continues to empower MSMEs. Note to the Reader: This article has been produced on behalf of the brand by HT Brand Studio and does not have journalistic/editorial involvement of Hindustan Times.
Mint
23-05-2025
- Business
- Mint
Tally MSME Honours Marks the Fifth Year of Championing MSME Innovation and Growth
Tally Solutions Pvt Ltd, India's leading business management software provider, has announced the launch of the fifth edition of its flagship annual initiative- Tally MSME Honours. Building on the momentum of four successful years, the initiative continues to recognize and celebrate emerging entrepreneurs who are shaping the future of India's MSME ecosystem through innovation, resilience, and impact. The nominations will be open for all businesses with an annual turnover of less than INR 250 crores and a valid GSTIN number. The entries can be submitted by interested businesses or people who know such businesses via this link: by June 10th. This year, the initiative is expanding its reach with seven events across key cities: Delhi, Bangalore, Mumbai, Kolkata, Jaipur, Ahmedabad, and Chennai, to celebrate and honour the remarkable changemakers driving impact on the ground. Over the last four editions, Tally MSME Honours' has received over 27,000 nominations with over 1500 entries from women-led ventures, making it one of the biggest platforms globally to celebrate MSMEs. This year, Tally expects a record-breaking 20,000 nominations. The winners will be felicitated on International MSME Day—June 27, 2025. The honours will also spotlight MSME success stories from across the Middle East, Africa, Bangladesh, and Nepal, in addition to India. Addressing this initiative, Ms. Jayati Singh, Chief Marketing Officer, Tally Solutions, said, 'The fifth edition of Tally MSME Honours marks more than a milestone; it represents a growing movement. What started as a platform to recognise MSMEs has evolved into a rich tapestry of stories that not only celebrate their courage and commitment but also serve as a source of inspiration, learning, and growth. At Tally, we believe that every business, no matter how small, holds the power to create meaningful change. Through this initiative, we've had the privilege of spotlighting over 600 such stories across India, the UAE, Saudi Arabia, Bangladesh, Nepal, Indonesia, and Africa. This year, we look forward to discovering even more changemakers as we continue this journey of collective insight and progress.' With a focus on lasting impact, Tally MSME Honours goes beyond recognition to meaningfully elevate and empower entrepreneurial voices. The initiative offers continued opportunities for growth and visibility, with past winners becoming part of a thriving community of changemakers. Through industry panels, business forums, and ecosystem events, they gain a platform to share their journeys, strengthen partnerships, and drive sustained impact. Tally MSME Honours 2025 will feature the following award categories: Wonder Woman: Honouring women entrepreneurs who have defied odds to build thriving businesses and inspire change. Honouring women entrepreneurs who have defied odds to build thriving businesses and inspire change. Business Maestro: Recognising experienced business leaders whose expertise and perseverance have laid strong foundations for others to follow. Recognising experienced business leaders whose expertise and perseverance have laid strong foundations for others to follow. NewGen Icon: Spotlighting startups that are redefining the business landscape with bold ideas and breakthrough innovations. Spotlighting startups that are redefining the business landscape with bold ideas and breakthrough innovations. Tech Transformer: Celebrating businesses that are leveraging technology to boost efficiency and drive digital transformation. Celebrating businesses that are leveraging technology to boost efficiency and drive digital transformation. Champion of Cause: Acknowledging businesses that go beyond profits to create a more inclusive, equitable, and sustainable business environment. The nomination entries will be judged by an esteemed panel comprising experts from the field of technology, the MSME domain, and the media. About Tally Solutions Pvt Ltd Tally Solutions Pvt Ltd is a tech and innovation-led company providing business management software globally. Established in 1986, it has revolutionized business operations with simple yet powerful solutions. Its flagship product, TallyPrime, integrates accounting, inventory, compliance, and banking into a unified platform, serving over 2.5 million businesses and 7 million users across 100+ countries. Tally has expanded into the Account Aggregator ecosystem with TallyEdge, enabling easier access to financial services through collaboration with Banks and NBFCs and TallyCapital, which enables easy and secure lending to help entrepreneurs grow their business with confidence. Tally's commitment to skill-building and making youth employable is reflected in Tally Education, which operates across 1,000+ centers in 400+ towns, equipping professionals with industry-relevant expertise. With an unwavering focus on innovation and simplicity, Tally continues to empower MSMEs. Note to the Reader: This article has been produced on behalf of the brand by HT Brand Studio and does not have journalistic/editorial involvement of mint.
Business Upturn
01-05-2025
- Business
- Business Upturn
How to Verify a Vendor's GST Number Before Making Payments
Verifying GST numbers is a crucial compliance and fraud-prevention step for Indian businesses, ensuring legitimacy in vendor transactions and protecting against fake invoicing and tax-related risks. By News Desk Published on May 1, 2025, 15:59 IST In India, the scope of digitally driven business transactions has become quite promising, already capturing the market at a rapid scale and growing. With GST playing a crucial role in the taxation framework, ensuring the legitimacy of business transactions is more important than ever. For businesses, making vendor payments requires verifying the GST online before making payments. With rising cases of tax fraud and fake invoicing, performing a GST number search is both a strategic and regulatory necessity. In this article, we will look at the importance of GST number verification and how implementing proper verification processes can protect your business from potential fraud and compliance issues. What is a GSTIN? GSTIN, or Goods and Services Tax Identification Number, is a 15-digit unique PAN-based identification provided to a firm or taxpayer registered under India's Goods and Services Tax (GST) regime. This GST number search validation is necessary for enterprises to comply with GST laws and regulations, which allow them to collect and transfer GST to the government. Once the person crosses the threshold limit for GST registration, then it's compulsory to obtain GSTIN. Ensure the correct GST number format of the 15-digit alphanumeric code as per the GST structure. Just in case the GST number format is incorrect, you will get an error message at the time of the GST payment. Why Verifying a GST Number in India Matters? Compliance Assurance: GST number verification has become essential due to the increasing number of GST-related frauds, which caused Gujarat to lose Rs. 3,434 crores through fake invoicing. Businesses encounter major IT claim obstacles when working with vendors who lack proper registration or whose registration is incorrect. Fraud Prevention: Multiple situations have seen businesses creating fake GST invoices through the use of non-existent GST Identification Numbers. With quick GST Verification companies can avoid fraudulent activities and other legal consequences Business Authentication: GST number verification belongs to a comprehensive system of due diligence practices. Businesses that verify GST numbers ensure they work with honest entities, which creates both safe and transparent supply chain operations. Steps for a GST Number Search The process to verify a GST number online is simple and quick Visit the GST website: Visit the official GST website. Choose 'Search Taxpayer': Select the 'Search Taxpayer' Put in the GSTIN or PAN of the taxpayer you want to verify. Choose the type of verification: Depending on your preference, select either the 'Search by GSTIN' or the 'Search by PAN' option. Once you have entered the necessary information and chosen the method of verification, click the 'Search' button. Check the information. You can view the taxpayer's information on the screen if the GSTIN or PAN is legitimate. If the number is invalid or inactive, the portal will alert you instantly. Things to look into Mismatch of names between the GST portal and the invoice. Inactive status of a GSTIN at the time of transaction. Invalid GST structure, suggesting a fake or mistyped number. Frequent changes in GSTIN for a recurring vendor, indicating suspicious activity. Conclusion This article highlights the need for regularly conducting GST number verification because, more than a proactive business measure—it's a critical compliance requirement in India's GST-regulated economy. Whether you're running a small business or managing large-scale operations, consistently performing GST checks online helps mitigate risks and protect your enterprise's integrity. In the market, there are several fintech tools like Pice that provide a reliable platform to perform GST searches and verify the authenticity of businesses. News desk at
