Why CNG Cylinder Suppliers Are Under the GST Radar?
what's going on
“The best time to start is now, the best way to start is together.” That’s why we’re here—to walk this exciting journey of insights and growth with you.
This Thursday, we’re spotlighting inspiring business moves and stories that’ll have you rethinking what’s possible. Let’s make today thrive!
But first…
Top headlines of the day
📌 Gurgaon becomes a corporate hub as IBM secures TRIL Tower Space
IBM is reportedly close to leasing 260,000 sq ft of office space at Gurgaon’s TRIL Tower, developed by Tata Realty. This comes as India’s office space demand keeps surging, driven by factors like the rise of Global Capability Centers (GCCs), flexible workspaces, unicorn startups, and Big Tech expansions.
In fact, India is expected to dominate the Asia-Pacific market, contributing 70% of the region’s net office absorption this year. With record-breaking leasing projected at 83-85 million sq ft, it’s clear India is the bright spot in global real estate right now.
📌 CNG cylinder companies face GST notices
The GST authorities have sent notices to several companies supplying CNG cylinders, claiming they’ve been underpaying taxes. These companies have been paying 18% GST, classifying the cylinders as general gas containers. But the authorities argue that since these cylinders are exclusively for vehicles, they should be taxed at 28% - just like other vehicle parts.
This tax dispute isn’t small - it covers unpaid dues from July 2017 to April 2024, with interest and penalties. Meanwhile, companies insist they followed proper consultations and client purchase orders. Experts say the rules are unclear, and in such cases, courts usually side with the taxpayer. Many are calling for a GST Council clarification to settle this once and for all. For now, the companies have 30 days to present their case.
📌 India is coming out as an oil agent
India is taking the lead in global oil demand growth until 2035, according to the IEA. The country is expected to add nearly 2 million barrels per day (mb/d), making it the main driver of growth as China shifts focus to electric vehicles and reduces its oil reliance.
Globally, oil demand growth is slowing, creating challenges for producers who may face oversupply issues. Add to that, geopolitical risks - like tensions in the Middle East - could disrupt supplies.
With India’s growing energy needs, it’s clear the country is set to reshape the global oil game.
📌 This year, startups created 1.6 million jobs
India’s startup scene is on fire, creating over 1.6 million jobs and cementing its role as a global leader in entrepreneurship. With 1.57 lakh startups officially recognized by DPIIT, and 73,000+ led by at least one woman director, the ecosystem is not just growing - it’s getting more inclusive too.
What’s driving this boom? Affordable internet and a young, dynamic workforce have laid the foundation for startups to thrive in areas like fintech, edtech, and e-commerce.
And here’s the kicker: India now has over 100 unicorns and startups like BYJU'S, Zomato, and Nykaa going global, showing the world we’re serious about innovation. It’s no wonder we’re the third-largest startup hub on the planet.
📌 IRCTC app and website face outage
IRCTC is facing a major outage today, leaving passengers unable to access the website or app for bookings. This is the second time in December that the platform has run into issues, and it's all due to maintenance activities.
If you need to cancel your ticket, IRCTC suggests contacting customer care or emailing your details for a Ticket Deposit Receipt (TDR). Unfortunately, this glitch comes at a busy time, right in the middle of the holiday season. On top of that, IRCTC’s stock has taken a hit, dropping nearly 1% today. This outage also follows recent changes in booking policies, like cutting down the Advance Reservation Period from 120 to 60 days, which has had mixed reactions from passengers.
So, that’s it from me today!
See ya 👋
