The government has notified the Goods and Services Tax Appellate Tribunal (GSTAT) (Procedure) Rules which make it online filing of applications mandatory, provide for hybrid hearings and listing of cases on an urgent basis steps that will make the adjudication process simpler for businesses.

The notification states that the rules come into effect from April 24, 2025, and the GSTAT portal has already gone live.

The move marks a major step in streamlining tax litigation under the GST regime. Under the new rules, all appeals and applications must be filed digitally via the official GSTAT portal.

The framework, laid out in 15 chapters, covers procedures from the admission of appeals to hearings and final orders. The Tribunal will allow hybrid hearings -- either in person or through video conferencing -- as approved by the Tribunal President.

Boult Audio, the bootstrapped consumer electronics brand, has reported a 37 per cent drop in its net profit to Rs 2.5 crore for the fiscal year 2023-24 (FY24), compared to Rs 4 crore in FY23.

The Delhi-based company, which designs and manufactures wireless earbuds, headphones, smartwatches, and speakers, saw its revenue from operations increase to Rs 697 crore in FY24 from Rs 498 crore in the previous fiscal, as per its financials.

Boult also made Rs 5 crore from non-operating revenue, bringing its total revenue to Rs 702 crore.

However, the rising expenses, particularly in materials, advertising, and post-supply discounts, outpaced the revenue growth.

Boult’s cost of material consumed surged by 25 per cent to Rs 402 crore, making up nearly 58 per cent of its total expenses.

More than 70 per cent of Indians are seeking generative artificial intelligence (Gen AI) tools to boost their productivity as well as communication skills, a new report said on Friday.

The report by Google and Kantar, based on a survey of over 8,000 people across 18 cities, analysed Gen AI adoption, potential, and impact among people in India. It underlined the massive headroom for Gen-AI adoption in India, and people's desire to use such tools to excel in life.

The report found that while AI excitement is high, it's still early days for adoption: 60 per cent aren't familiar with AI, and only 31 per cent have tried any Generative AI tool.

At the same time, it also showed a strong, innate desire among Indians to improve and excel, with the majority seeking to boost productivity (72 per cent), enhance creativity (77 per cent), and communicate more effectively (73 per cent) in their daily lives.

Essar Energy Transition (EET) congratulates Eni and the UK Government on achieving financial close on the core carbon transport and storage project of the HyNet Industrial Cluster (the Liverpool Bay CCS).

"We are delighted that Eni’s construction phase will now begin on the infrastructure enabling HyNet; vital to massive reductions in carbon emissions and enabling much-needed investment, protecting and growing jobs and industries across North West England and North Wales," the company said.

EET’s Hydrogen Production Plant (HPP1) project is one of the four initial projects that will provide carbon to this infrastructure for permanent storage. HPP1 is expected to be the UK’s first large-scale low-carbon hydrogen production plant with a capacity of 350MW and capturing some 600,000 tonnes of CO2 per annum -- equivalent to taking 125,000 cars off the road.

The electric two-wheeler maker Ather Energy is set to launch its initial public offering (IPO) on April 28, but industry experts on Friday raised eyebrows over the company’s continued losses and lack of revenue growth.

Despite being one of the early players in India’s EV space, Ather has never reported a profit since it was founded in 2013 by Tarun Mehta and Swapnil Jain.

The company’s red herring prospectus (RHP) states that it has been making losses every year and there is no certainty about becoming cost-effective or profitable anytime soon.

In the financial year 2023–24, Ather Energy reported a pre-tax loss of Rs 1,059.7 crore. This is a sharp increase from its Rs 864.5 crore loss in FY23 and Rs 344.1 crore in FY22 -- showing a widening gap in its financial performance.

At the same time, its revenue in FY24 stood at Rs 1,753.8 crore, slightly lower than the Rs 1,780.9 crore it posted in FY23.

Maruti Suzuki India on Friday reported a 4.29 per cent drop in its net profit at Rs 3,711.1 crore for the fourth quarter of last fiscal (Q4 FY25), compared to Rs 3,877.8 crore in the same period in the previous fiscal.

According to its stock exchange filings, the company’s total expenses rose 8.55 per cent YoY to Rs 37,585.5 crore in the March 2025 quarter.

However, the company’s revenue from operations rose by 5.86 per cent year-on-year (YoY) to Rs 38,848.8 crore, up from Rs 36,697.5 crore a year ago.

The automaker also registered a slight growth in overall income, which stood at Rs 40,674 crore during the quarter, compared to Rs 38,235 crore in the year-ago period.

The Union Ministry of Road Transport and Highways has issued a show-cause notice to Ola Electric Mobility Limited over missing trade certificates.

In the notice dated April 24, the ministry asked Bhavish Aggarwal-run Ola Electric to provide detailed information about the number of stores and service centres it currently operates, as well as the number of trade certificates it has obtained in the past three years, including their issuance dates, as per a media report.

The company has also been asked to clarify whether it is stocking unregistered vehicles at its centres, report added.

The ministry further demanded model-wise and variant-wise data for the 7,820 electric scooters Ola Electric claimed to have delivered in February this year.

The company has been directed to respond within seven days of receiving the notice to avoid any adverse action.

Apple is reportedly planning to shift the entire assembly of iPhones sold in the United States to India by as early as next year.

This would mark a major move in Apple’s global manufacturing strategy, as the tech giant continues to reduce its dependence on China, according to a report by Financial Times.

The final decision will depend on how quickly India can ramp up its supply chain and how trade talks between China and the US progress.

According to the report, US President Donald Trump has been pressuring Apple to move away from China due to ongoing trade tensions.

Trump recently confirmed that talks are ongoing with China regarding tariffs. In the meantime, Apple’s contract manufacturers in India are already stepping up production.

The Enforcement Directorate (ED) has detained BluSmart co-founder Puneet Jaggi from a Delhi hotel, after the agency conducted raids in a case related to Gensol Engineering Ltd.

The raids were conducted at company’s offices in Delhi, Gurugram, and Ahmedabad under the Foreign Exchange Management Act (FEMA).

The ED is investigating Gensol promoter brothers Anmol Singh Jaggi and Puneet Singh Jaggi after a SEBI report accused them of financial irregularities, corporate misgovernance and fund diversion.

Gensol was yet to issue a statement.

Adani Energy Solutions Limited (AESL) on Thursday reported an impressive 103 per cent annual profit after tax (PAT) growth in FY25 at an all-time high of Rs 2,427 crore, as the company posted 87 per cent PAT growth at Rs 714 crore in Q4 (January-March).

The Adani Group company also showed strong growth of 42 per cent (year-on-year) in its total income at Rs 24,447 crore in FY25, which is highest ever is driven by the contributions from the recently commissioned transmission projects, robust energy sales in Mumbai and Mundra utilities and contribution from the smart metering business.

“Out of Rs 24,447 crore, the Service Concession Arrangement (SCA) Income under IND-AS 115 in FY25 was Rs 5,064 crore against Rs 858 crore in FY24,” said the company.

PAT witnessed a sharp increase of 103 per cent YoY, resulting from higher EBITDA, and aided by reversal of net deferred tax liability of Rs 469 crore in full year, primarily due to divestment of Dahanu plant in Adani Electricity Mumbai Limited (AEML) and regulatory income of Rs 148 crore, it added.